While all businesses nationwide and globally are still in the overwhelming phase, Afristrat would like to encourage our SMME community to start thinking about the new normal. What will your business look like as we return to work and how can you leverage all the grants at your disposal?
The department of small business development, SEDA and sefa has plans in place to help SMME’s through-out South Africa to survive and continue:
- Business Growth Facility
- SMME Relief Finance and
- Restructuring of sefa funded SMMEs
Here is just a snapshot of what you could potentially qualify and apply for to get your business equipped for the new world of business and minimise your losses:
1. Business Growth Facility
This funding is offered to local manufacturers and suppliers as an opportunity to produce and strengthen their place in the market, which may lead to long term contracts post the COVID 19 pandemic.
Here is a snapshot of the qualifying criteria:
- Businesses geared to take advantage of supply opportunities resulting from the Coronavirus pandemic or shortage of goods in the local market
- Company/business must be 100 owned by South African Citizens
- Company must be 51 black owned
- Employees must be 70 South Africans
- Priority will be given to businesses owned by Women, Youth and People with Disabilities
- Be registered and compliant with SARS
- Be UIF compliant
2. SMME Relief Finance
This facility is a soft loan funding that will keep the existing businesses afloat during the COVID 19 pandemic for 6 months from April 2020.
See if you qualify:
- Businesses which are negatively affected due to the Coronavirus pandemic
- Company must be 100 owned by South African Citizens
- Company must be 51 black owned
- Employees must be 70 South Africans
- Priority will be given to businesses owned by Women, Youth and People with
- Disabilities
- Be registered and compliant with SARS
- Be UIF compliant
3. Payment Moratorium/Holiday
This is a payment holiday given to sefa funded SMMEs for a maximum of six months to reduce your instalment burdens during the COVID 19 period.
Funded SMMEs must submit proof of the negative impact of COVID 19.
fdf
If you meet the above criteria, register on the National SMME Database www.smmesa.gov.za
Resource: Small Business Development Department
