7 BEST SMALL BUSINESS FUNDING SOURCES IN SOUTH AFRICA

DTI funding for small business

One of the best options to consider is the DTI fund It is a collection of funding schemes that the Department of Trade and Industry (DTI) makes available to South Africans with new business ventures and those with already existing ones

Much of the funding schemes take the form of loans and grants, with a few being set up as cost-sharing incentives Some of the options under the DTI fund include the Agro-Processing Support Scheme (APSS), Automotive Investment Scheme (AIS), Business Process Services (BPS), Support Program for Industrial Innovation (SPII), the Critical Infrastructure Program (CIP), and the Manufacturing Investment Programme (MIP) Those seeking DTI funding for a small business can begin their applications by visiting the department's official website

The NYDA (National Youth Development Agency) Grant Programme is designed to provide young entrepreneurs with an opportunity to access both financial and non-financial business development support to enable them to establish or grow their businesses

Besides the financial assistance, the non-financial services provided by the NYDA include mentoring, cooperative development, business management programmes, and consultancy services The maximum amount of funding for a small business one can receive in a single cycle is R250,000

Small Enterprise Finance Agency (SEFA)

This agency was set up to foster the establishment and growth of Small and Medium Enterprises. SEFA provides development finance to SMEs and Cooperatives that are not able to attract commercial credit.

SEFA grants, loans, and other forms of business development financing range between R50,000 and R5 million

Isivande Women's Fund (IWF)

This is one of the South African government's financial assistance schemes It is an exclusive fund that aims to accelerate women's economic empowerment by providing more affordable, usable, and responsive finance than is currently available The IWF is targeted at businesses that are wholly or majorly womenowned

The fund provides financing ranging from R30,000 to R2 million An individual or business seeking the Isivande Women's Fund begins by making an application that fund managers review before the funds can be released

Khula Enterprise Finance

Khula is a South African state-owned enterprise that was established in 1996 to focus on promoting and developing small and medium enterprises (SMEs) While the body does not give out loans and grants directly, it makes it possible for deserving individuals and enterprises to get funding from other South African financial institutions

Besides providing government small business funding, the body also provides mentorship to entrepreneurs, helping them to manage their businesses successfully

Small Enterprise Finance Agency (SEFA)

You need funding upfront; you need it within hours Funding for your business is one of the most important financial choices you’ll make As a business owner, you know this

But when seeking business funding, you don’t want to risk your assets, right? And you want to use the funding as you need it You want to be able to pay it back in a way that matches your business turnover You want a funding solution that is on your terms, that you can control You want options You want business funding that is unsecured, unrestricted, flexible, and safe – with the support of our expertise

Retail Capital business funding opens your eyes to possibilities and empowers you to seize them