5 Ways To Access DTI Funding

The South African government has done incredible work at creating  financial structures that will assist entrepreneurs in various sectors of business. There are several institutions where entrepreneurs can access funding for the development, sustainability and expansion of their businesses. The Department of Trade and Industry (DTI) is one such department where business owners could get financial assistance.

The DTI is responsible for providing financing to businesses that qualify for the funds regardless of their sectors.

1. Forms Easily Accessible:

Business owners are encouraged to utilise the online option of applying for funding at the DTI. The forms are readily available on the DTI website, which makes the application process seamless.

2. Duration:

Entrepreneurs can expect to wait for at-least a period of 12 months before obtaining funding; In addition, factors such as the activities that need funding, must align with the funders mandate.

3. Start Up Funds:

The business owner must have at least one year track record of experience in the said field and must be armed with a solid market.

4. Business In Existence:

The business must be in full operation and paperwork such as financials and tax clearance certificates must be up to date; failure to comply with this requirement could gravely dent the chances of the business owner access to funds.

5. The DTI And DFI:

The DTI ( Department of Trade and Industry) and DFI( Development Financial Institution); These are two different financial institutions and business owners are encouraged to learn those differences, to avoid confusion. According to the government website, the role of the DFI is described as follows.

”The purpose of DFI is to ensure investment in areas where the market
fails to invest sufficiently.”