The Enterprise Investment Programme (EIP) is an investment incentive offered by The Department of Trade and Industry to increase local and foreign investment, production capacity and employment, and to sustain economic growth. The EIP replaces the Small Medium Enterprise Development Programme (SMEDP) and is effective from July 2008 to 2014.
A number of agric-related projects are able to participate in this incentive scheme, where processing and/or packaging occurs. Success has been achieved, inter alia, with citrus packaging, crop processing & packaging, meat processing, etc., and other packhouse operations. The benefits are such that anyone considering investing in such processing or packhouse facilities really should investigate whether they would qualify. Foreign investment may qualify for significant additional incentive grants.
There are also incentives available to those investing in the tourism sector.
Approved EIP applicants may receive:
• A non-refundable cash grant of between 15% and 30% of their investment in qualifying assets (new project or expansion) including:
- Machinery and equipment / furniture and fittings
- Commercial / tourism vehicles
- Land and buildings
• Paid over 2 or 3 years
• A Foreign Investment Grant up to a maximum of R10m.
There are qualifying criteria that need to be met. Rhino has partnered with the specialist and Alt-X listed iQuad Group, through whom the vast majority of all South African incentive applications are submitted. Please be assured that iQuad is the leading consultancy in this regard, where such experience certainly assists in expediting applications vis-a-vis the requirements.
For more information, please contact Andrew Barton via either firstname.lastname@example.org or 079 891 7668