South Africa’s small, medium and microenterprises, or SMMEs, are responsible for employing thousands of people and boosting the country’s economy. Around 40% of South Africa’s GDP (gross domestic proﬁt)is generated by SMMEs and more than half the private sector work-force is employed by small companies.
Statistics reveal that just over 80% of all new jobs around the world have been created by SMMEs. In South Africa there are around 1,5 million self-employed people in the SMME sector who contribute close to 40% of the total remuneration.
Small business start-ups who’ve been trading for less than two years cantake advantage of Nedbank’s specially-designed start-up loan, which comes with a free, two-year transactional business bank account, plus a start-up loan of R100 000.
An SMME start-up loan will give your business the vital kick-start it needs. The package includes free cheques, free cash deposits, free debit orders, and free internet banking for the first two years, which could help you to save up to R60 000 in bank charges alone.
A Nedbank start-up loan is available to all businesses and franchisees with a projectedturnover of up to R5 million per annum. Businesses must be registered as a sole proprietor, partnership, close corporation, or a limited company, and have been in operation for less than 2 years. In addition, the application must include a detailed business plan with capital expenditure requirements and cash flow projections.