The role of incentives in manufacturing
June 2018
News
The fifth annual Manufacturing Indaba will be hosted at Sandton Convention Centre, Johannesburg from the 19 to 20 June 2018. The event will comprise a two-day conference and exhibition and is hosted in partnership with the Department of Trade and Industry, the Department of Science and Technology, the Manufacturing Circle and the NCPC-SA. The event is designed specifically for private and public company representatives to hear from industry experts as they unpack challenges and find solutions for growth across the manufacturing sectors and explore regional trade into Africa. The 2018 event will launch the IoT/Industry 4.0 Conference aligned to the Manufacturing Indaba as an official side event.
The Manufacturing Indaba 2018 will be leading pertinent discussions regarding the various government grants, tax incentives and financing opportunities available to manufacturing-specific enterprises. The symposium will also focus on the requirements candidates must meet to be eligible for such incentives which aim to foster business growth, promote job creation and stimulate global competitiveness within South Africa’s manufacturing sector.
The Department of Trade and Industry and other government institutions are providing several government-backed financing options to incentivise manufacturing entrepreneurs and business persons. This will enable prospective industrialists to enter the field, thereby generating a positive economic and social impact, including uplifting their local communities.
Individuals with business ideas and existing setups that comply with the requirements of funding agencies can benefit from government grant and tax incentives that promote business development. To drive the nation’s economy in the right direction, several priority or development areas that await sustainable progress have been identified. The incentives available to such manufacturing units vary from cash grants, tax breaks, and industrial financing.
Production incentives are offered to advance national priorities with focus on new assets, green technology, resource efficiency maximisation, enterprise level competitiveness enhancement, feasibility research and cluster interventions. This funding option could be up to 50% of the money spent which is available to existing manufacturers. Some of the incentive programmes that will be discussed include the Support Programme for Industrial Innovation, Black Industrialist Scheme, Agro-Processing Support Scheme, Industrial Policy Incentive, Special Economic Zones, Energy Efficiency Allowance and the Strategic Partnership Fund.
For more information visit www.manufacturingindaba.co.za
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