Cape Town: Western Cape companies, as well as intermediaries or organisations that currently assist businesses with exports, are being called on to apply for financial assistance. The provincial Department of Economic Development and Tourism (DEDAT) announced that companies and potential companies can apply for financial assistance and support through the Export Competitiveness Enhancement Programme (ECEP).
According to South African Government News Agency, the ECEP Fund aims to develop and equip business enterprises facing technical challenges to diversify and access international markets. The fund will provide comprehensive support to businesses and intermediaries or organisations dedicated to implementing programmes and projects fostering their export initiative.
The programme support will focus on services such as product reformulation and refinement, international packaging, labelling, and printing requirements, and international product certification and standards for international market access. It also includes product or service registration with relevant international bodies in export markets, international nutritional analysis, special handling services and/or permits required to export products safely and efficiently, and e-commerce platform listing.
The fund is geared toward businesses that are existing exporters or potential exporters in sub-sectors including food, beverages, cosmetics, personal care products, jewellery, transport equipment, computer, electronics, and optical products, rubber and plastic products, machinery and equipment, wearing apparel, and craft and furniture.
Meanwhile, according to the provincial department, several exclusions should be noted when applying for the fund. These include operational and working capital, contributing to production costs or purchase of stock, the building of any sort of infrastructure, and enterprises not based in the Western Cape.
The department stated priority will be given to companies operating in industries with high export potential identified in the Western Cape economy. In addition, planned intervention intends to develop successful exporters meeting client needs professionally.
Organisations, intermediaries, and businesses that qualify must meet the following minimum requirements: be a registered legal entity, be tax-compliant at the time of application, and have audited financial statements independently reviewed or compiled for the two most recent financial years. The business must also be based within the geographic boundary of the Western Cape, even if the main office is in another province.
According to the department, the fund is contingent upon budget availability, which will be made accessible through an open fund. ‘The allocation of funds will be at the discretion of the department based on evaluation criteria and the availability of budgetary resources.’
Application forms for businesses and intermediaries can be accessed online, and only online applications will be accepted. No e-mail or hand-delivered applications will be considered.