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Upon approval of the grant, if you are employed full time, you could be required to resign from employment and provide grant officer with proof of resignation.This is a requirement so that you can focus an appropriate amount of time on your venture.The aim of the fund is to create self-sustaining black and women owned businesses by offering you primary financial and non-financial support.
Financing a small business, whether you’re starting-up or trying to expand, is a challenge all entrepreneurs go through.
Here are a few examples of government funding that focuses on black entrepreneurs: The NEF is, a part of the government’s development mandate to encourage black participation in business and entrepreneurship.
It also focuses on diverse expertise to drive growth in priority sectors and to take on higher-risk funding projects.
The IDC supports B-BBEE and actively boosts and promotes black-owned and managed business along with those with employment equity.
Small and micro business sectors are the main source of real employment in the economy.
The drop in entrepreneurial activity over the past five years is equal to 2.3 million possible job opportunities lost.The IWF offers support services to improve the success of your business.It targets business that are starting up, expanding, rehabilitating, franchising and those that need bridging finance.Do you have an existing small business or want to start one?SEFA are piloting direct finance to entrepreneurs wanting to start or grow a business.It helps to assist black entrepreneurs in achieving funding.This fund aims to assist black youth, women and men, communities and businesses to achieve sustainable success.The IDC achieves its goals by providing finance for industrial projects, promoting partnerships between and across industries within SA and internationally.It focuses on projects that finance and facilitate, that lead to the creation and innovation of new industries.It aims at developing the skills of black employees and business owners, by supporting local, regional, provincial and national government projects.1. The IDC government funds aims are: Job creation potential, rural development, urban renewal and poverty alleviation, the employment of women and youth as well as up-skilling of employees.All of the projects that the IDC funds, need to show economic viability and sustainability and should target previously disadvantaged groups, women, people with disabilities, low income working groups and marginalised communities.