Ithala conducts business training for SMMEs
A total of 20 SMME representatives have received training on financial management at a two-day training workshop co-ordinated by Ithala.
SMMEs from Durban and surrounding areas were taught skills on budgeting, managing operating costs and tax compliance.
The training workshop was facilitated by Business World, a skills development institution.
Divisional Manager for Business Support at Ithala, Phelelani Duma, said the training was aimed at assisting SMMEs gain a better understanding of the financial aspects of running a business.
“One of the identified obstacles to SMME development is that of weak financial management skills.
The workshop covered areas such as accessing start-up capital, the resources required to run a small business, cash-flow management and compliance with tax laws,†he said.
Attendees at the workshop said the training had helped them better understand accounting terms that they had previously grappled with.
Douglas Shandu who runs a company involved in diamond processing expressed gratitude to Ithala for organising the workshop.
“This has been an eye-opener, we left with a better understanding of the accounting needs of a business and the importance of keeping accurate business records,†said Shandu.
Duma said a recent analysis of SMME performance had shown a sharp decline in the number of small businesses nationally.
“This means that we have to offer all the assistance we can to SMMEs, including financial and non-financial support to ensure that they continue to thrive.†he said.
Small business plays a major role in job creation; they account for 68% of employed workers in South Africa.
“This means that we have to offer all the assistance we can to SMMEs, including financial and non-financial support to ensure that they continue to thrive.†he said.
Small business plays a major role in job creation; they account for 68% of employed workers in South Africa.
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For more details, please contact Ithala Business Support on 031 907 8757.