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NEEDMORE does not do funding but below are some ideas of where to find funding.
In South Africa, many new small businesses struggle to find capital to start-up or expand their businesses.
Although there are many ways to access capital or funding, you need to be aware that there is strict criteria in applying for funding, lots of paperwork
and often a long wait before financial assistance is granted. Even if you meet the criteria, funding is not guaranteed.
It is worth carefully reviewing your options and find the most suitable funding vehicle before submitting an application. This page provides you with basic information to understand the business funding vehicles in South Africa that could provide you with the financial assistance you may require.
Government Funding for
The South African government offers different types of funding for small businesses. And, range from grants to incentives, each offers some form of financial support for entrepreneurs. Government funding is linked to programs such as black economic empowerment, job creation, and developing the economy.
A Government Guide to Funding highlights the types of funding offered by the government. And, here is a list of possible small business development agencies to consider or partner with: Funding for small business development.
Usually, requirements for assistance are based on:
A completed application form and business plan by owner or manager
The ability to repay the loan
The business being registered in South Africa with the CIPC
The business operating in South Africa
Review of your application is often done in the following manner:
Assessment of application is completed at a regional office closest to the business.
After due diligence is done, a committee decides on approval.
Upon approval, before funds are transferred, applicants will be required to sign a contract acknowledging debt.
Certain financial institutions, like banks, give start-up business loans. Like any other bank loan interest is charged and the monies would need to be paid back over a certain period of time as agreed with the lender.
Banks also have specific criteria, which often include:
Providing a detailed business proposal/plan
Providing registered company documents
Having a good credit rating
Showing financial records if you have started the business
For more information, read: 5 Small Business Resources in South Africa.
Another consideration is asset finance for your business.
Other Funding Options
Besides government funding and bank loans the are other financial options like: personal loans, loans from family or friends, crowdfunding; social enterprise funding / impact investing; funding for tech innovation; funding for green initiatives; cash advance for invoice / contract / tender; B-BBEE partner funding; venture funding, etc.
Zhauns Business Opportunity Machines provides this business plan template ( FREE ) to guide you through generating your own company’s business plan. This template serves only to guide you and does not in any way guarantee that you will get the necessary funding
Just Getting Started?
Zhauns does not do funding but below are some ideas of where to find funding.
If you have an idea to start a business with one of Zhauns machines, its always good to start with a business proposal or develop a business plan to ensure that your ideas and thoughts are aligned and makes sense to you and anyone that reads it.
Once you have your plan and if you require funding or support it will be beneficial to register your business with the CIPC, get your SARS tax number and bank account.
Zhauns will soon be able to help you get started with company registration and a business plan for one of a machine you wish to purchase from us. Email us on email@example.com with your contact details, the type of support you require, and the machine you wish to purchase.
We would love to see you succeed even if it means getting your business started or taking your business to the next level with one of our machines. And, when you purchase a machine from us you will get FREE access to Zhauns Business Academy, an online learning platform that will help you improve your chances of running a successful business.