The National Budget Speech 2023

The finance minister, Enoch Godongwana, has given some hope to SMEs in the National Budget Speech. Here are the supportive measures that have been provided to navigate these challenging economic conditions.

• Energy: with the planned Eskom debt takeover, businesses are looking forward to having less loadshedding as the resources which would have gone to servicing debt will now be used to focus on the maintenance of Eskom infrastructure. This will help SMEs to improve their bottom line as less loadshedding means more revenue and less costs on running an alternative energy solution like a fuel-powered generator.

• Bounce Back Loan Guarantee Scheme: the changes to the scheme are welcomed as SMEs will be able to finance their solar power needs on the back of a government guarantee. All solar-related loans are guaranteed on a 20% of first-loss basis. The scheme will launch in April 2023.

• Revenue collection: the zero increases in corporate tax, personal income tax, VAT, fuel levy, and road accident fund levy will go a long way to help ease cash flow pressure on businesses.

• Infrastructure investment: the projected R903 billion to be spent on infrastructure (e.g. roads, power plants and water supply initiatives) creates vast opportunities for SMEs.

Renewed optimism for agriculture



There are several positives for the agriculture sector. The first is required allocation to deal with the energy crisis as loadshedding begins to impact negatively on food production, creating a potential threat to food security.


A total debt-relief of R254 billion will go a long way in enhancing operations and ensure a speedy recovery.


Agribusiness will benefit from being included in the refund of the Accident Fund levy for diesel used in the manufacturing process, given the huge costs associated with operating generators for extended periods due to loadshedding.