Make your business idea reality

2008-08-28 00:00

Budding entrepreneurs from marginalised communities have been presented with a vehicle to make their business dreams come true with the launch of the Industrial Development Corporation’s (IDC) R1 billion Transformation and Entrepreneurship Scheme (TES).

TES incorporates five funds:

• Women’s Entrepreneurial Fund (R400 million);

• Equity Contribution Fund (R150 million);

• People with Disabilities Fund (R50 million);

• IDC Development Fund for Workers (R250 million);

• the IDC Foundation Fund for Communities (R150 million).

Shakeel Meer, IDC divisional executive: industrial sectors, told The Witness that these funds provide equity, in this case high risk money, on favourable terms.

He encouraged people living in rural areas and townships with good business ideas to apply for funding.

He also stressed the importance of preparing a viable and thorough business plan.

The funds will also include an investment and business support grant.

According to the IDC, investment criteria for all funds are the following:

• economic viability and financial sustainability;

• funding provided will generally not be less than R1 million;

• operations must fall within one of the sectors or regions in which IDC investment activity occurs;

• provisions must be made for the employment of people with disabilities.

For more information contact the IDC at 031 337 4455, the call centre at 0860 693 888 or visit www.idc.co.za.

kavith@witness.co.za

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