Access to funding for growing companies is important as a business of any size and in whichever industry needs financial stability to operate sustainably.
Government grants and funding, banks, alternative lenders, other financial institutions or private investors are a great source of finances when you’re trying to get your business off the ground or expand to new horizons. But it’s not that simple as accessing finance proves to be one of businesses greatest obstacles.
Therefore also consider funding your small business through competitions and the exciting thing is it’s more than just funding. As competitions also provide winners and finalists with business development support of training, mentorship and networking opportunities which can open doors and help leverage more funding and support from other sources.
Is South African Breweries (SAB) 20-year old youth entrepreneurship development programme. Aimed at assisting young entrepreneurs under the ages of 35 years, from previously disadvantaged backgrounds to develop and sustain their youth-owned businesses.
FNB Enablis Business Plan Competition
Takes promising entrepreneurs to the next level with over R10 million in potential funding, valuable prizes and business benefits on offer. Enablis has a team of entrepreneur development experts and accomplished entrepreneurs who will give each business plan a serious evaluation.
The Business Investment Competition
Encourages and rewards entrepreneurship by providing a platform for small and medium enterprises (SMEs) to cross the next major hurdle in business development. In the agriculture, manufacturing or trade and services sectors that have been in operation for at least 24 months.
The Green City Startup competition
Get a head start into Green Startups if your business is innovative, with an environmental purpose with ideas in building, energy, water, and transport or waste.
The R50 million, Jozi My Beginning Community Innovation Fund
With the University of Johannesburg offers grants to the brightest entrepreneurs in the city’s townships who already have an operating startup or have ideas to start one. Present original ideas that can be practically implemented to benefit Joburg residents.
HackJozi R5m information and communications technology-development competition
Run jointly by Wits University and the Johannesburg Centre for Software Engineering. Aims to contribute towards fostering skills, innovation and entrepreneurship in the digital technology space for potential tech-preneurs who come up with technology solutions to everyday Jozi problems stand the chance of turning their digital ideas into viable business opportunities.