Applications close for current round on 12 July 2019 at 17:00
The CDI Growth Fund offers your growing Small/Medium Business (SME) access to grant funding, working capital and business support, thereby assisting your business to unlock its growth and create permanent jobs, as well as contributing towards the economic development and competitiveness of South Africa.
In its first round (2012 – 2015), supported by the National Treasury’s Jobs Fund, we exceeded targets, creating 464 jobs in 45 businesses. Participating SMEs grew their combined annual revenue by 73% over three years.
Now in its second round, with continued support from National Treasury’s Jobs Fund, our goal over the next three years is to support up to 60 businesses to create 600 new jobs.
If you are an emerging SME who meets the fund criteria, and who is experiencing growth or are poised for expansion that includes creating permanent jobs, then you should consider applying to the Growth Fund.
How Much Grant Funding Can I Apply For?
- You can apply for an amount between R21 000 and R2million rand, depending on how many jobs you commit to creating in the three-year period.
- You can apply for R21 000 for every 1 permanent job created.
- You are also required to match the grant funding amount with 20% of your own cash.
The table below gives you an idea, of how many jobs are required for a given amount of grant funding.
What Are the Other Non-Funding Components Given to Successful Applicants?
Your non-financial support will provide access to:
- Business development training
- Coaching and mentoring
- Prototyping/sampling facilities and expertise
- Market platforms to test market-ready products
What Are the Criteria and Requirements for Applying?
To be eligible to apply your business must:
- Be a South African-owned business, with the controlling interest of the enterprise (51% of the issued ordinary share capital) must be held by South African citizens with valid a South African ID or a South African Registered legal entity itself controlled by South African citizens with valid South African ID.
- Operate within South Africa, including but not limited to projects, programs or enterprises of the business.
- Be an existing business, at least 1 year old (preference will be given to businesses that have been trading for 2 years or more) with turnover or assets above R1m.
- Match 20% of the contribution of the Fund through a cash contribution
- Must create one job for every R21,000 grant investment.
- Be tax compliant
Additionally, you must:
- Not be insolvent or currently under debt administration
- Be willing to provide financial statements and all supporting documents required
- Commit to training new employees
Once your application is successful, you will sign a contract and report on progress and impact to the Fund administrators on a quarterly basis during and for a two-year period after the project completion.
- Only fully completed applications will be considered
- CDI funding decision is final, and no correspondence will be entered into
- No staff member or associate of the CDI, Government Technical Advisory Centre (GTAC) or Department of Economic Development and Tourism may apply
APPLICATIONS CLOSE ON 12 JULY 2019 AT 17:00
For queries please contact: Ryan Rode – email@example.com