Businesses looking to get involved in creating employment and growing productive capacity in South Africa can now access information on government investment incentives through a one-stop portal, www.investmentincentives.co.za.
The government offers a wide range of incentive schemes to encourage the growth of competitive new enterprises and the creation of sustainable employment. However, these have tended to become lost from view within the websites of particular departments.
This week's launch of the Government Investment Incentives portal is set to change all that.
Promoting private sector involvement
A joint project of the Department of Trade and Industry (dti), the Economic Development Department and the Industrial Development Corporation (IDC), the new website pulls together state incentive schemes, including grants and tax breaks, together in one easily navigable package.
"It is important to establish sustainable enterprises to boost job creation and to increase the state's participation in development," Meryl Mamathuba, head of the IDC's development finance department, said in a statement on Wednesday.
"Ultimately, the aim is to promote private sector involvement in both the creation of productive capacity and research and development (R&D) in the country," Mamathuba said.
Three types of incentive
The website helps the potential applicant find the incentive that might fit by dividing state incentives into three categories:
Subcategories of incentives
The first category breaks down into eight subcategories, namely:
The capital expenditure category includes incentives for:
And the competitiveness enhancement incentives are for:
Completing the website's initial offering is a set of answers to frequently asked questions on incentives and the process of applying for them.