IN: News

Growth Fund for Small SA Businesses

Job-creating enterprises stand to benefit from growth opportunities via the CDI’s Growth Fund.

Share

Are you the proud owner of a promising small business based in South Africa? Stand to benefit from invaluable resources with the Craft and Design Institute’s (CDI) Growth Fund – valued R12.8m!

The CDI recently opened a new round of applications to the revered Growth Fund, which supports SMEs and job creation through proceeds granted by the National Treasury’s Jobs Fund, the Technology Innovation Agency (TIA) and the Western Cape Department of Economic Development and Tourism (DEDAT). More specifically, the Growth Fund aims to assist small businesses needing cash in order to create jobs and further scale up their operations. 

Eligible applicants must own a small business with assets OR annual turnover worth R1m and that has been operating for at least a year. The business must be South African-owned, operate within the country and be fully tax compliant.

Each applicant is additionally asked to demonstrate year-on-year business growth (and/or the potential for sufficient growth) as well as be able to create jobs. Successful applicants must match 20% of the contribution made by the Growth Fund.

The 60 approved applicants will receive cash in addition to a three-year intervention-and-disbursement plan, oversight, support, performance management, inspection and bespoke mentorship.

For more details, and to apply for the Growth Fund, visit www.cdicapital.co.za/GrowthFund.

Applications close on 13 July 2018.

 

Related Articles