Did you know the National Empowerment Fund (NEF) provides financial and non-financial support to black entrepreneurs and groups in support of Broad-Based BEE (B-BBEE) in terms of government legislation? The NEF provides business loans ranging from R250,000 to R75 million.

The NEF Fund has supported many businesses in industries such as food and beverage, tourism and entertainment, retail, property, financial services, energy, construction and materials, agro-processing, manufacturing, the motor industry, transportation, the textile industry, and media.

The criteria for each application that is assessed for funding include the following terms:

• A minimum percentage of black ownership or interest of 50.1% is a requirement

• The business must be able to repay NEF funding

• The business must create a reasonable number of jobs

You can get a quote from four business loan lenders via the SME South Africa website. More info about the solutions here

New This Week (30 April 2024)

• The impact of climate change on SMEs in South Africa

• Exploring export opportunities for South African SMEs

• What SMEs need to know about the rise of mobile commerce in South Africa

Who can apply for Old Mutual’s Masisizane Fund?

Old Mutual’s Masisizane Fund is a non-profit organization dedicated to providing enterprise development support to small, medium, and micro enterprises in South Africa. The Masisizane Fund offers financing from R250,000 to R20 million.

The criteria for applicants include that the enterprise must be majority-owned (at least 51%) and controlled by black South Africans or naturalised South Africans.

READ MORE: Innovative business models for SMEs in South Africa

Get Your Small Business Online Today!
Being found online is critical for any small business.  Imagine potential customers searching for exactly what you offer, but they can't find you because you don't have a website. That's lost business!

A website is your digital storefront, open 24/7. It allows you to showcase your products and services, share your story, and connect with customers directly.  They can learn about you, browse offerings, and even contact you – all from the comfort of their own devices.

Getting started is easier and more affordable than you might think. Here's a roadmap to get your small business thriving online:

• Claim Your Online Address: Every business needs a unique online address, like your own street address but for the internet.

• Find a Hosting Hero: Think of your website as a house, and your domain name is the address.  It would help if you had a place to build your house, and that's where a web hosting company comes in

• Design Your Dream Website: Now for the fun part - building your website! There are user-friendly website builders that require no coding knowledge, or you can hire a web designer to create a custom website.

• Content is King: Tell your business story, highlight your unique selling points, and establish yourself as an expert in your field. 

Spread the Word: Don't build a website and wait for customers to find it! Promote your website through social media, email marketing, and online directories. 

Ready to take the first step? Domain.com offers a user-friendly platform for finding the perfect domain name for your business. It's an investment that will pay off for years to come.