The City of Cape Town’s Economic Growth Directorate is all set to implement its business retention and expansion programme in areas across Cape Town over the coming year.
The business retention and expansion programme, managed by the Investment Facilitation Branch (IFB) in the Enterprise and Investment Department, will assist large and small businesses with strategies to keep their doors open and, where possible, help to expedite their operational expansion.
‘The pandemic and the related lockdowns had a severe negative impact on businesses. But this is not only about minimising the effects of this situation; we aim to build a stronger, more resilient future for businesses and, ultimately, the people of Cape Town,’ said Alderman James Vos, the City’s Mayoral Committee Member for Economic Growth.
Since its establishment in 2017, the branch has engaged with hundreds of businesses and secured investments with more than 20 companies worth billions of rands and thousands of job opportunities.
These include a renewable energy enterprise in Atlantis, a food and beverage group in Ndabeni, a call centre in Diep River, a clothing and textile business in Bellville, and an electronics organisation in Airport Industria.
‘We need to be responsive to new supply and demand dynamics to ensure our industries are best-placed to emerge from this crisis and receive the support they need to thrive. As part of this, the City’s business retention and expansion programme will be progressively rolled out in Cape Town’s industrial areas over the next 18 months,’ he said.
The programme will include a survey of businesses in key economic nodes that will be conducted in partnership with various enterprise support organisations.
‘The survey will help us to identify and address business environmental issues that fall within the City’s control, and issues that the City can influence that might be holding back economic growth in these areas,’ said Alderman Vos.
The programme is the latest in a suite of City initiatives aimed at supporting businesses across Cape Town as they restore their operations in the post-lockdown period. These other initiatives include the development programme offered by The Business Hub, the Investment Incentives platform, a business rescue programme in conjunction with Productivity SA, and a load curtailment programme to reduce the impact of load-shedding and the industrial areas hotspot action plan.
‘The City of Cape Town stands ready to partner with businesses, other spheres of government, our strategic business partners, and our private sector stakeholders, to devise sustainable and inclusive pathways through this period of economic recovery and re-growth,’ said Alderman Vos.
- To find out how the Investment Facilitation Branch can help your business, email investment.facilitation@investcapetown.gov.za.
