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NGGovernment or developing funding is a form of finance provided by either government or private organisations for a specific purpose. The eligibility criteria vary greatly.
There are hundreds of government business funding options available in South Africa at both the national and regional level. They are often sector-specific or tied to a particular product or outcome.
Eligible businesses or social enterprises may benefit.
The South African government has established a number of agencies and funds to support small businesses, including:
- The IDC is a national development finance institution set up to promote economic growth and industrial development. They offer loan amounts of a minimum of R1-million with a maximum of R1-billion per project allowed
- SEFA provides financial and business support to numerous SMEs and cooperatives throughout the country, furthering the development of existing enterprises or the establishment of new enterprises
- SEDA is tasked with developing, supporting and promote small enterprises throughout the country, ensuring their growth and sustainability
- The NEF is tasked with promoting and facilitating black economic participation by providing financial and non-financial support to black empowered businesses and promoting a culture of savings and investment among black people
- The Technology Innovation Agency (TIA) was established in terms of the TIA Act 26 of 2008, with the objective of stimulating and intensifying technological innovation in order to improve economic growth and the quality of life of all South Africans
- The DTIC and its subsidiary agencies are involved in promoting economic development, black economic empowerment, implementing commercial law, promoting and regulating international trade, and consumer protection
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