The Small Business Growth Fund – As part of the Year of Small Business Development, the Small Business Development Fund exists to empower small business owners and strengthen the overall small business economy by providing the primary need of small businesses: access to capital.
Now in the second round of funding, each recipient will receive a $5,000 grant from Mastercard to help accelerate their growth and make 2022 the Year of Small Business.
The Small Business Growth Fund
Hi Alice is pleased to say that many of the recipients are part of the new majority of small business owners:
The Digital Economy: Finance For Business Growth
Although their businesses span different industries and stages of development, the recipients all share a common commitment to impact. Each owner told us how they create jobs, incorporate social impact, and give to local causes and organizations.
“We’re doing a camp this summer in Antonito, Colorado called Mini Money Runners,” said Lorne Jenkins (pictured above), founder of Mini Money, a financial literacy and educational program for schools. “The median income in the area is $22,000, and it is 82% Latino. The grant money will go towards funding the financial literacy portion of the camp, and six weeks of workshops dealing with money, emotions, budgeting and entrepreneurship. pays the teachers for maintaining it.
See the full list of Small Business Development Fund recipients below, and visit the Small Business Funding Center to find more grant and loan opportunities.
Create a free Hello Alice account or subscribe to our weekly newsletter for small business funding opportunities and inspiration. A new application round has opened for the R12.8 million Growth Fund for SME growth and job creation.
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The Growth Fund is a grant fund for small businesses in South Africa that need cash to grow and create jobs.
The growth fund is managed by CDI Capital, which was established in 2016 as a subsidiary of CDI to provide finance to small and medium-sized businesses. Funding came from the National Treasury Jobs Fund, the Technology Innovation Agency (TIA) and the Western Cape Department of Economic Development and Tourism (DEDAT).
The Growth Fund is open to South African-owned businesses operating in South Africa, which are at least one year old, with turnover or assets in excess of R1m.
All applicants must demonstrate annual growth and/or sufficient growth potential and be eligible for tax credits. Applicants must also contribute 20% of the Fund’s contribution through cash contributions to reach the agreed targets. It is important that the enterprise is able to create new jobs.
About The Programme
SMEs that meet the funding criteria and are able to apply online will go through a rigorous selection and support process, where successful applicants will be contracted for a three-year intervention and payment plan, quarterly reports, monitoring and inspections, training on request. , and business development support.
Respected as one of the most successful and longest running SME development organizations in SA, CDI supports more than 4,300 SMEs, which in turn provide more than 11,100 jobs or create income generating opportunities. In the first funding period (2012 – 2015), CDI exceeded the plans set, 464 jobs were created in 45 initiatives. Participating SMEs increased their total annual revenue by 73% over three years.
Funding is limited to the first 60 approved applicants. Application deadline extended to July 13, 2018 Despite the impact of the coronavirus pandemic and other shocks on our economy, there are green spaces for growth in some sectors – including, for example, small business-oriented on e-commerce and digital services. . Tapping into and funding this growth potential will be key to local economic recovery.
With this in mind, the CDI Capital Growth Fund is now open for grant applications. Small businesses experiencing growth or about to expand in any area that can create jobs are encouraged to apply.
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CDI Capital is an emerging impact funder and subsidiary of Craft + Design Institute (CDI), a non-profit organization with 20 years of success supporting small businesses in South Africa. As an impact financier, CDI Capital seeks to create positive social and economic impact in the SMME sector and the South African economy.
Between 2012 and 2015, the CDI Capital Growth Fund created 464 jobs in 45 enterprises, and participating enterprises increased their annual revenue by 73%, which exceeded the initial plans of the fund. The current round of funding, supported by the National Treasury’s Jobs Fund, aims to support up to 60 businesses to create 600 new jobs by 31 March 2023.
The Fund is ready to repeat the success achieved in the first funding round and in the second funding round, 447 new permanent jobs have been created in 23 initiatives. CDI Capital aims to identify a further 20 businesses nationally over the next three months that will be eligible for this valuable support.
CDI’s Capital Growth Fund provides grant funding to SMEs to overcome barriers to growth and that growth leads to the creation of new permanent jobs. To support these SMEs, CDI Capital will also provide a revolving loan of up to R500,000 to help finance their growth related purchase orders and working capital needs, providing advice and access to funds.
Small/mid Cap Growth Fund
This integrated and targeted approach to supporting SMEs across its portfolio has delivered excellent results over the last 8 months. Between July and December 2020, during the first wave of COVID-19, CDI Capital provided R7 million in grants and soft loans to 23 SMEs in its portfolio and R1 million in grants for technical business and market support. The funds are aimed at protecting businesses and their employees from the effects of the shutdown and the catastrophic loss of income, as well as supporting business owners to develop and implement recovery strategies. As a direct result of this intervention, all 23 businesses survived, more than 900 jobs were safeguarded, and 73% of the businesses measured to date had a pre-tax net profit of 10% or more.
Recent examples of the Foundation’s impact are Barrydale Hand Weavers, a supplier of quality handlooms in the Klein Karoo. The business received CDI Capital Growth Funds in 2020 and has used these additional resources to expand its supply to South African retailers, including developing online retail. This support during the first wave meant that businesses took advantage of the opportunity created by delays in manufacturing and international imports.
Arron Bastable of Barrydale Hand Weavers said: Despite the difficult lockdowns, our turnover has increased by 35% since 2019. This allowed us to increase wages in October 2020 and create five new jobs in 2020… We expect further revenue growth and expect to create 3-5 additional jobs this year. We cannot thank CDI and its partners and supporters enough, it has been such a positive for our business, thank you! “
Another grant success is NCC’s Environmental Services, a team that recently helped stop the spread of devastating fires in Cape Town. “We are very grateful for the collaboration with CDI. We have been able to offer permanent employment contracts to over 100 individuals and we have purchased the necessary clothing, vehicles and personal protective equipment, related to the provision of forest fire fighting services and urban baboon control”, said NCC Linden Roda.
Hello Alice Launches The Year Of Small Business, A Movement In Partnership With Naacp, U.s. Hispanic Chamber Of Commerce, Global Entrepreneurship Network, And Mastercard®
Access to grant money, working capital and business support provided by the CDI Capital Growth Fund will help businesses unlock growth potential and create permanent jobs, as well as contribute to South Africa’s economic development and competitiveness. “We believe that small businesses are essential to growing our economy and creating jobs – even more so after the pandemic and recent social unrest. Through meaningful, socially responsible investment, we can maximize the potential of local entrepreneurs, create a generation of South African innovators and a strong, inclusive economy,” said CDI’s Erica Elk.
Businesses can use grant funding to open up growth opportunities and meet needs such as advertising, marketing, communications, construction and other fixed structures, equipment, machinery, materials, research and testing, professional services, and more. Businesses can apply for between R105 000 and R1 050 000, depending on how many jobs they commit to creating by 31 March 2023. The Business Development Fund (BGF) was established in 2011 to meet the growing need for investment small and medium. -Big businesses in the UK. In 2017, BGF undertook a major rebrand to help better communicate what it offered to growing businesses across the UK. This includes a complete redesign of their website, which we have stepped into here.
BGF needed a digital partner to help bring their new brand identity to life online. Furthermore, they needed help moving from a broken and outdated content management system. They also had hundreds of pages of relevant content that needed to be laid out in a way that would be easily searchable by potential customers. And they had to integrate a range of sales and marketing services.
BGF worked closely with London agencies Brandcap and Blueprint.tv to design the new visual identity, but this required specialist digital skills.