Business Opportunities Monthly – June 2020

funding for small business
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funding for small business

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Please note: Visit the organisation’s website for more information.

Call for applications

*** FUNDING ***

The IDC’s Agro-processing and Agriculture Strategic Business Unit (AGRICULTURE)

The IDC encourages new or existing companies within the agro-processing and agriculture sector that plan to create new or expand industrial capacity within the economy to apply for this fund.

Sectors in agro-processing (food and non-food) can apply:

  • Horticulture and high-value field crops
  • Beverages
  • Wheat and sugar
  • Forestry
  • Livestock value chain such as cattle, poultry and pigs
  • Horticulture including fruit, vegetables, nuts, tea and coffee
  • Fishing and aquaculture

More information here

Microsoft’s AgriTech Initiative (AGRI-TECH)

This initiative is looking for AgriTech companies with innovative solutions to partner with, who will develop and roll-out various high-impact solutions in the horticulture and animal production sectors, that will make black smallholder farmers more competitive and improve their efficiencies.

Successful applicants from the AgriChallenge will receive investments to help bring their solution to life. Applications closing date is 25 June 2020.

More information here

Farmsol (AGRICULTURE)

Farmsol is a ‘South African Breweries Thrive Fund’ initiative and a black-owned agricultural services company focused on incubating emerging farmers (Agri-SMMEs) and giving them access to funding. Their incubation model also provides technical training and support to emerging farmers, and provides access to modern production inputs and patient financing to qualifying enterprises.

More information here

The Global Innovation Fund (ALL)

This initiative supports innovators who are committed to evaluating their own success, with plans to collect data and feedback to help inform decisions.

More information here

funding for small business

*** BUSINESS PROPOSALS **

– Call for proposals for the planning, designing, fitting, spacing and furnishing of Walter Sisulu University Centre for Entrepreneurship Rapid Incubator. Closing date is 15 June 2020. More information here

– Apply for IDC COVID-19 Essential Supplies Intervention which is established to provide funding to companies for the acquisition and/or the manufacturing of essential supplies on an urgent basis to combat the Covid-19 pandemic that is facing South Africa. More information here

– Get support from your community online through Facebook and Instagram – South African Businesses can set up a gift card feature with one of Facebook’s partners so people can find and support their businesses. More information here

*** COMPETITIONS AND ACCELERATORS ***

Sasol Business Accelerator (SBA) (SELECTED)

Small, medium and micro enterprises (SMMEs) in the manufacturing, engineering services and recyclables sectors can apply to join this programme. Interested companies must be based in Sasolburg and surrounding areas, notably Metsimaholo, Ngwate and Emfuleni municipalities. The closing date for applications is 17 June 2020.

More information available here

Mentorship Marathon for both mentors and startups (ALL)

Between 18 May – 18 August 2020, the Mentorship Marathon by incubation hub, 22 on Sloane, will take place. It focuses on supporting startups towards rethinking and re-evaluating their business models.

More information available here

Dell Women’s Entrepreneur Network (WOMEN)

Connect with a global community of women entrepreneurs, investors and advisors – in-person and online. You can also get access to technology resources and content.

More information available here

NYDA Hands Up Competition (YOUTH)

This competition asks you to share your ideas on how young people can build a better world. You stand a chance to win data bundles, tablets, Wi-Fi routers and more. The competition is open to participants between the ages of 14 and 35.

More information available here

funding for small business

*** COVID-19 VIDEO RESOURCES ***

Seda (Small Enterprise Development Agency)

Learn about: basic food hygiene awareness, basic business administration, basic bookkeeping for spaza shops and informal traders, and customer service training for informal traders. Watch it here

Wesgro Promoting Cape Town and Western Cape

Learn about: navigating contracts during Covid-19, Africa’s business resilience amid Covid-19, and health and safety requirements for workplaces. Watch it here

GIBS Business School

Learn about: the return on marketing investment, leadership in a COVID-19 world, stress resilience, and managing business disruption and supply chain. Watch it here

Red & Yellow School

Learn about: how to secure SETA funding, managing B BBEE skills development during lockdown, and how to get clients or teams to buy into your solution. Watch it here

*** COVID-19 RELIEF PACKAGES UPDATES ***

Loan Guarantee Scheme Now Open

The Covid-19 loan guarantee scheme announced by President Cyril Ramaphosa in April began operating on 12 May 2020. The initial set of participating banks (Absa, First National Bank, Investec, Mercantile Bank, Nedbank and Standard Bank) are accepting loan applications from distressed businesses which bank with them.

The activation of the loan guarantee scheme follows the finalisation of legal details by National Treasury, the South African Reserve Bank and the Banking Association South Africa.

The loan guarantee scheme is an initiative to provide loans, guaranteed by government, to businesses with an annual turnover of less than R300 million to meet some of their operational expenses. Funds borrowed through this scheme can be used for operational expenses such as salaries, rent and lease agreements, contracts with suppliers, etc.

Government and commercial banks are sharing the risks of these loans. Initially, the National Treasury has provided a guarantee of R100 billion to this scheme, with the option to increase the guarantee to R200 billion if necessary and if the scheme is deemed successful.

More details on the scheme can be found in a frequently asked questions guide available here:  treasury.gov.zaresbank.co.za and Banking Association SA

Further queries should be directed to the individual banks, which are administering the scheme.

Youth Micro Enterprise Relief Fund

The NYDA in an effort to mitigate the impact of COVID-19 will provide a Relief Fund to youth-owned enterprises for a period of three months. This fund is targeted at youth-owned businesses that meet the following criteria:

  • The youth owned enterprise must have been existing and operating for a period of six (6) months prior to the lockdown. Proof of this must be submitted in a form of management accounts (i.e. invoices, orders, etc.)
  • The youth owned enterprises must be able to provide financial statement for three (3) months before the lockdown and statements during the lockdown.
  • The youth owned enterprise must submit CIPC registration documents except for informal businesses.
  • The youth owned enterprise must provide proof of banking details that is not older than six (6) months.
  • Demonstrate how the enterprise has been impacted by COVID-19.
  • The relief fund will cover operational costs only.
  • The relief fund will be capped at a maximum of R10,000 per youth owned enterprise and this will be a once-off amount.
  • The application period is from 20 April up to 30 May 2020.

Download an application form HERE.

*** PREVIOUS ISSUES ***

Business Opportunities Monthly – May 2020

Business Opportunities Monthly – March 2020

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Melissa Javan
Melissa Javan
Melissa Javan is a writer with nine years' experience in the media industry. She enjoys blogging and taking part in Twitter chats. You can find her on Twitter @melissa_nel.