Funding Opportunities For Potential SA StartUp Businesses

Funding opportunities for potential SA StartUp Businesses. Living through the Covid-19 pandemic has made life a lot more difficult for people and businesses in the shower time since the virus first penetrated the economy. However it has also created room for new business ideas and business strategies.

There are organizations that are still steadfast on assisting and nurturing young minds and giving them financial assistance to realize their start up dreams. Here is a list of some of these helpful organizations;

1.Khula Enterprise Finance LTD

Khula helps SMMEs to get loans from banks. It does not lend money itself. Khula also provides mentorship to entrepreneurs, helping them to manage their businesses successfully. The mentorship programme includes the transfer of skills on a face-to-face basis, the development of viable business plans, and pre- and post-loan services.Contact Khula: 012 394-5560/5900 or 0800 11 88 15Website: www.khula.org.za(link is external)South

2.South African Micro Finance Apex Fund (Samaf)

Samaf gives financial services to small-scale entrepreneurs living in rural and outer urban areas. Samaf does not lend money directly to the public. It uses existing institutions within communities to handle the funds and lend to qualifying entrepreneurs. Samaf has three products: the Micro-Credit Fund (gives loans to entrepreneurs), the Capacity Building Fund (gives funds to be used for equipping the institutions with skills, system and equipment) and the Savings Mobilisation Fund (encourages savings).Contact Samaf: 012 394-1805Websites: www.samaf.org.za;(link is external) www.thedti.gov.za

3.Technology for Sustainable Livelihoods

This is a programme of the Department of Science and Technology (DST). It aims to create jobs for communities by helping to establish SMMEs. In particular, it makes use of technologies which can add value to SMMEs and makes them accessible to communities. At the same time, the programme helps to make these SMMEs successful by offering skills development and training.

The DST offers technological assistance in the following areas:

Aquaculture: Communities are trained to farm indigenous fish as a business. They receive technology in terms of infrastructure (production cages) and training to manage a fish farm, including diseases and harvesting.

Essential oils: These are valuable oils that are extracted from the leaves and flowers of plants. Communities benefit from skills development and training, and their businesses are linked to the local essential oils market.

Indigenous medicinal plants: Communities are taught to grow indigenous herbs commercially. These plants have special medicinal properties which have been scientifically proven. Communities receive training in farming methods and in how to start a commercial enterprise and their businesses are linked to local markets.

The DST does not support individuals, only communities and community groups. These communities are then helped to form a viable community business, in the form of a Section 21 Company or cooperative. In order to use these technologies and produce valuable crops in essential oils and indigenous medicinal plants, communities need to have access to suitable agricultural land. Similarly, communities that want to benefit from fish farming must have access to irrigation dams.Contact the DST Technology for Sustainable Livelihoods: 012 843-6421/18

4.Umsobomvu

The Umsobomvu Youth Fund helps youth set up, expand and develop their businesses by teaching them essential business skills. Umsobomvu has the following programmes:National

5.Youth Service

The National Youth Service is about involving young people in the development of our country. It is an opportunity for young people to actively serve their communities. The National Youth Service Programme aims to create a culture of service. It develops the skills, knowledge and abilities of young people. It also improves youth employability by giving opportunities for work experience and skills development, and by providing further learning opportunities.For more information on the NYS, turn to the Expanded Public Works Programme.