Many South Africans have business ideas with the potential to earn them a lot of money.
Unfortunately, many lack the financial resources to actualise their ideas.
Many South Africans have benefited frombusinessgrants like DTI funding for small businesses, SEDA, NEF, and IDC.
A picture of time and cash. Photo: pexels.com, @Picas Joe (modified by author)Source: UGC
If you wish to be a beneficiary, you must apply for them.
Many people struggle because they lack adequate capital to start and run operations.
Programmes like DTI funding for small businesses have made many people’s dreams a reality.
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SEDA offers loans and grants to small businesses.
It puts the specific businesses it wishes to issue grants to on the website.
The agency also issues the criteria businesses must meet to receive funding.
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Applications for the SEDA grant aremade online.
you’ve got the option to confirm if your small business meets the criteria for funding.
SEDA normally gives details of the system process on itsofficial website.
A person signing a document. Photo: pexels.com, @Cytonn PhotographySource: UGC
SEFA funding
SEFA is an acronym for Small Enterprise Finance Agency.
It was founded in 2012.
Since then, the government has been funding it to support small businesses.
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As a result, SEFA funding requirements vary depending on the form you wish for.
There is no official IDC funding app form.
Instead, enterprises seeking funding should follow the steps below.
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The fund was established in 1998.
NEF offers financial and non-financial support to black-owned and managed businesses.
It also promotes a saving and investment culture among black people.
A woman counting cash at a work desk. Photo: pexels.com, @MART PRODUCTIONSource: UGC
NEF offers various forms of support, as listed below.
It does this by offering business loans.
The LEDA funding software form is available on the official website.
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Kindly note that these are loans, not grants.
What are non-repayable small business grants?
These are a punch in of development funding the Government of South Africa offers to support small business growth.
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The businesses are not required to pay back the amount received.
How do I get local grants for my small business?
it’s possible for you to get grants by applying for those you qualify for, e.g.
DTI, SEDA, IDC, and NEF.
What does SEDA help with?
SEDA provides support for small businesses in various phases of their life cycle.
SEDA, IDC, and NEF have assisted others.
These agencies promote business development in the country.
DISCLAIMER:This article is intended for general informational purposes only and does not address individual circumstances.
Any action taken upon the information presented in this article is strictly at your own risk and responsibility!
PAYE means pay-as-you-earn tax.
It is a repayment scheme that incrementally makes deductions as paychecks are received in South Africa.
The South African Revenue Service collects pay-as-you-earn tax from employees.
After PAYE is deducted, one receives a net salary.
She has a Bachelor of Commerce & IT from the University of Nairobi and joined Briefly.co.za in November 2019.
The writer completed a Google News Initiate Course.
you could email her at perisrodah254@gmail.com.
She holds a Diploma in Mass Communication and a Bachelors degree in Nutrition and Dietetics from Kenyatta University.
Cyprine joined Briefly.co.za in mid-2021, covering multiple topics, including finance, entertainment, sports, and lifestyle.
In 2023, she finished the AFP course on Digital Investigation Techniques.
She received the Writer of the Year awards in 2023 and 2024.
In 2024, she completed the Google News Initiative course.
Email: cyprineapindi@gmail.com
