WECBOF is essentially an agent which assists with growing and sustaining already established businesses.
Start-up businesses, on the other hand, initially require a different set of procedures to follow to get its operations off the ground. WECBOF provides assistance in this regard by putting would-be entrepreneurs in touch with the relevant organisations to assist start-ups.
Masisizane Fund, an Old Mutual Initiative
The Masisizane Fund, an Old Mutual initiative, offers tailored integrated and flexible financial and non-financial solutions including financial education, capacity development, and mentoring support to entrepreneurs/small businesses. The Fund takes time to fully understand each enterprise’s needs, challenges and characteristics. This understanding, and the partnership which is created between the Fund and the entrepreneur/small business, adds value and offers innovative enterprise models aimed at ensuring long-term enterprise growth, sustainability and development impact. The Masisizane Fund invests in SMMEs which have registered businesses, clear marketable products or services, and which create and retain jobs. The Fund provides loan financing in productive sectors which have high employment and growth multipliers with a strong rural, township, and peri-urban bias. Sectors include:
- Agri-business (primary & agri-processing)
- Franchising & commercial
- Supply chain & manufacturing
Non-financial value adding services include:
- Capacity development – business management and technical support
- Financial education
- Market development
- Product/service quality standards and compliance
A business must show financial feasibility and the ability to repay a loan.
Website access for more information: http://dogreatthings.co.za/masisizane/
Small Enterprise Develop Agency
The Small Enterprise Development Agency (SEDA) is an agency of the Department of Small Business Development. SEDA was established in December 2004 through the National Small Business Amendment Act, Act 29 of 2004. It is mandated to implement government’s small business strategy; design and implement a standard and common national delivery network for small enterprise development; and integrate government-funded small enterprise support agencies across all tiers of government. SEDA’s mission is to develop, support and promote small enterprises throughout the country, ensuring their growth and sustainability in co-ordination and partnership with various role-players, including global partners, who make international best practices available to local entrepreneurs.
Website access for more information: http://www.seda.org.za/Pages/Home.aspx
Department of Trade & Industry (DTi) Funding
The DTi has identified and prioritised entrepreneurship as a catalyst and means to achieving economic growth and development for South Africa as a whole. To make this happen, the DTi, in conjunction with other government departments and institutions, is implementing and executing a number of schemes and policies to ensure that businesses have access to the necessary finance and non-financial support to make their ventures sustainable and successful. The DTi has a range of funding schemes available to new and existing businesses, ranging from micro businesses to co-operatives to medium-sized businesses. Financial assistance from the DTi can take the form of cost-sharing incentives, loans or grants, and mentorship programmes.
Website access for more information: https://www.thedti.gov.za/financial_assistance/financial_incentives.jsp
Black Umbrellas is a non-profit enterprise development incubation organisation partnering with the private sector, government, and civil society to address the low levels of entrepreneurship and high failure rate of 100% Black-owned emerging businesses in South Africa. The programme focuses on promoting entrepreneurship as a desirable economic path, and nurturing 100% Black-owned businesses in the critical first 3 years of their existence through the provision of nationwide incubators.
Website access for more information: http://www.blackumbrellas.org/
Productivity SA is established in terms of section 31 (1) of the Employment Services Act, No. 4 of 2014 as a juristic person with a mandate to promote employment growth and productivity thereby contributing to South Africa's socio economic development and competitiveness. Productivity SA is managed in accordance with the Public Finance Management Act (PFMA).
Website access for more information: https://productivitysa.co.za/