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WC regional economy branching out

WC local government said on Friday the regional economy is becoming less dependent on exports to Europe.

The Western Cape local government said the regional economy is slowly becoming less dependent on business exports to Europe.

CAPE TOWN - A Cape Town Entrepreneur has encouraged local government to adjust its criteria for financial assistance to help more small businesses.

Thursday saw the release of the Western Cape Economy Quarterly Report.

Although business confidence has decreased to 45 index points, local government said it is continuing to diversify the local economy.

After the presentation on the economic fitness of the Western Cape, small business owners were able to interrogate the numbers.

Simphiwe Ntkantsana started an auditing business in Phillipi.

He said local government offers financial aid, but he doesn't qualify.

"If they start by saying that they only consider the ones who are making half a million yearly then they are discriminating against those who are not making that money."

Economic Development MEC Alan Winde pointed out that with a limited budget, changing the criteria for financial assistance might unreasonably stretch the department's budget.