South African government funding and grants are focused on providing funding for previously disadvantaged individuals and funding business ventures that can make a difference to the economy.
If you feel that you qualify, browse the list below to learn how you can get business funds:
Business funds: where to look
1. The National Empowerment Fund (NEF) – The aim of this organisation is to support B-BEEE and previously disadvantaged individuals and communities. It offers a number of grants to businesses in different sectors. Visit the website for more information on specific grants.
2. The Small Enterprise Development Agency (SEDA) – This organisation supports the growth of small businesses. It assists with funding for starting and growing a business, and there is a SEDA branch in every municipality.
3. The Khula SME Fund – This fund is designed to provide funding for early-stage businesses and those requiring expansion capital.
4. The Department of Trade and Industry (DTI) – The DTI provides funding to qualifying businesses from a range of sectors. Visit the DTI’s website for a list of supported sectors, qualifying criteria and grants available.
5. The South African Micro Finance Apex Fund (SAMAF) – This organisation grants micro funds to businesses operating in rural or outer urban areas. It does not lend money directly to the public but through existing institutions within a community.
6. The National Youth Development Agency (NYDA) – NYDA provides enterprise funds for young entrepreneurs aged between 18 and 35 years old and aims to assist them in starting a business or growing an existing one.
7. GroFin Africa Fund – A specialist finance company that invests in companies at any stage of their development. GroFin can provide up to $1 million in funding.
8. Black Business Supplier Development Programme (BBSDP) – This is a cost-sharing grant to black-owned businesses to assist them in improving their competitiveness, profitability and sustainability.
9. The Industrial Development Corporation (IDC) – Under the IDC, there are multiple funds and grants available offering financial support to start-up businesses needing capital for equipment, working capital and buildings. It also funds business wanting to expand. Visit the website for more detailed information on specific funds and grants.
10. Isivande Women’s Fund – This is an exclusively women’s fund provided by the DTI to empower women entrepreneurs. With funding, education and training the Fund aims to accelerate women’s economic empowerment with affordable, usable and reliable finance.