The Growth Fund is a new funding initiative established as part of the CDI’s three-year Jobs Fund project, funded by the National Treasury through the Government Technical Advisory Centre (GTAC), the Technology Innovation Agency (TIA) and the Western Cape Department of Economic Development and Tourism (DEDAT).
The Fund is inviting SME’s experiencing growth or poised for expansion and able to create sustainable quality jobs to apply for Grant funding.
Criteria – the fund is open to:
- Existing businesses (preference will be given to businesses that have been trading for 2 years or more) in the craft, design and light manufacturing sectors, but other industries will be considered.
- Businesses with turnover or assets of more than R1m and a willingness to create permanent employment must demonstrate year on year growth and/or the potential for sufficient growth and be tax compliant.
- The Business must be willing and able to create one permanent employment job per grant investment of R21,000 and prepared to contribute an additional 20% (R4,200) of the grant amount in cash to be used in the business (R25,200). The Fund is open to businesses able to create any number of jobs. The total number of jobs the Fund aims to achieve is 600.
- South African citizens with valid South African Identity Documents or legal entities controlled by South African citizens with valid South African Identity Documents or permanent residents who hold a valid RSA ID document.
- Be owner manager or strong management team.
- The controlling interest of the enterprise for an applicant which is a juristic person (51% of the issued ordinary share capital) must be held by South African citizens with valid South African Identity Documents or a South African Registered legal entity itself controlled by South African citizens with valid South African Identity Documents.
- All business operations, including but not limited to projects, programs or enterprises, must be operated within South Africa
Online applications can be made on this page – see below for application button.
DEADLINE: 29 June 2018
For queries please contact: Ryan Rode – firstname.lastname@example.org