Funding For Your Business
Finding the right funding for your business can be challenging. There are various options you can consider to fund your business, including bootstrapping, bank finance, friends, family, investors and government funding.
The Department of High Education and training has observed a link between Education and Entrepreneurship, this has resulted in the formation of the Entrepreneurial Development in Higher Education initiative. In order to find out more about this initiative go the Entrepreneurial Development in Higher Education website by clicking here.
If you are a student and considering starting a business you can contact your institution to find out what support they can offer.
Below are organisations where you can look for business funds:
The National Empowerment Fund (NEF)
The aim of this organisation is to support B-BEEE and previously disadvantaged individuals and communities. They offer a number of grants to businesses in different sectors.
The Small Enterprise Development Agency (SEDA)
This organisation supports the growth of small businesses. They assist with funding for starting and growing a business, and there is a SEDA branch in every municipality.
The Department of Trade and Industry (DTI)
The DTI provides funding to qualifying businesses from a range of sectors. Visit the DTI’s website for a list of supported sectors, qualifying criteria and grants available.
Isivande Women’s Fund
This fund is an exclusive women’s fund established by the DTI to accelerate women’s economic empowerment through affordable, usable and responsible finance. For more information visit http://www.gov.za/services/business-incentives/isivande-womens-fund.
The National Youth Development Agency (NYDA)
The NYDA provides enterprise funds for young entrepreneurs aged between 18 and 35 years old and aims to assist them in starting a business or growing an existing one.
Enactus
Enactus is an international nonprofit organization dedicated to inspiring students to improve the world through entrepreneurial action. They provide a platform for teams of outstanding university students to create community development projects that put people’s own ingenuity and talents at the center of improving their livelihoods.
Raymond Ackerman Academy of Entrepreneurial Development
The Raymond Ackerman Academy of Entrepreneurial Development is a tertiary level Academy that offers an inspiring and innovative programme in entrepreneurial development for young people between the ages of 18 and 30.
The Small Enterprise Finance Agency (SOC) Limited (sefa)
The Small Enterprise Finance Agency (SOC) Limited (sefa) provides financial products and services to qualifying SMMEs and Co-operatives, as defined in the National Small Business Act of 1996 and amended in 2004, through a hybrid of wholesale and direct lending channels.
