Business Partners, a leading investment company for small and medium enterprises, has announced record results for the 2005 financial year.

The company’s investment in South Africa’s entrepreneurs is up 47 per cent on the previous year, with portfolios under management reaching R1,066-million.

During the 2005 financial year 538 investments to the value of R660,5-million were approved for investment in entrepreneurial enterprises across all industries and service sectors, up from R449-million the previous year.

Business Partners regional manager in the Eastern Cape Pierre Mey said his unit had done particularly well, approving about R100-million in this period.

“The sectors that have been prevalent are manufacturing, tourism and contracting as well, due to the downstream effect of the Coega project.

“Property also saw a large portion of approvals allocated to the sector due to the buoyant property market. These consisted mostly of shopping complexes, townhouse developments and development of office buildings.”

He said the friendly interest rate stimulated the market. “I think considering the new budget speech, the benefits for SMEs are great for the next financial year. We look forward to the roll out of the current financial year and expect SMEs will continue using the opportunities afforded to them.”