New forum to open doors for informal businesses

The Informal Economy Development Forum is set to focus on six areas that concern informal traders, the informal economy and its labour force, and legislation.

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Author: Tebogo Mokwena

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The Informal Economy Development Forum (IEDF) was launched last week to improve the business, labour, and regulatory environment in which informal businesses operate. IEDF chairperson David Venter said that South Africa’s 5.2 million informal workers would benefit from the forum, which was set up to drive growth within the sector, support informal economy workers, and function as the conduit between the government, corporate South Africa, and the informal economy.

The launch was attended by organisations and trade unions including Cosatu, the SA Informal Traders Alliance (SAITA), Parliament’s Portfolio Committee on Small Business Development, the Trade Union of Musicians of SA, and the South African Women in Mining Association. The IEDF is set to focus on six areas that concern informal traders, the informal economy and its labour force, and legislation.

They include the formalisation of the informal economy, and working with the government, labour, formal businesses, and civil society to drive an inclusive economic transformation agenda for informal workers and businesses. Other key areas are youth employment, developing training programmes to drive effective and professional labour practices within the informal economy, and facilitating education, skills development and social protection of informal workers and businesses.

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