Small Business Funding in Western Cape

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Small business in Western Cape

Research into the South African SMME landscape has shown that small businesses are not investing in technology and lack awareness and understanding of the benefits of digital adoption. Studies into digital uptake in the Western Cape have revealed that businesses in the province are not fully embracing the opportunities provided by digital technologies that could make them more competitive in national and global markets.

The Western Cape is currently home to around 230 000 SMMEs, with about 110 000 of these operating in the formal market.

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About Western Cape

History

Western Cape is a province of South Africa, situated on the south-western coast of the country. It is the fourth largest of the nine provinces with an area of 129,449 square kilometres (49,981 sq mi), and the third most populous, with an estimated 6.6 million inhabitants in 2018. About two-thirds of these inhabitants live in the metropolitan area of Cape Town, which is also the provincial capital. The Western Cape was created in 1994 from part of the former Cape Province, The two largest cities are Cape Town and George

Known for

Situated on the south-western tip of Africa, the Western Cape with its wide beaches and breathtaking scenery, complemented by a rich variety of cultures, historical landmarks, world-class restaurants and entertainment, is a world-famous tourist destination.

Table Mountain, the Cape winelands, Robben Island and the Kirstenbosch Botanical Gardens are among the province’s most popular tourist attractions.

Table Mountain, Cape Town’s most famous landmark – A quick spin by revolving cable car to the 1,086m summit, will give the visitor a splendid view of Cape Town, one of the most beautiful cities in the world, and of course the equally famous Robben Island.

The Western Cape is also known for its floral diversity. The Cape Floristic Region World Heritage Site comprising eight separate protected areas, covers an area of more than 553 000 ha stretching from the Cape Peninsula to the Eastern Cape. The Knysna-Tsitsikamma region has the country’s biggest indigenous forests.

Cape Town has proved again that it’s a film-friendly destination and it is reaping the benefits.

The Department of Trade and Industry’s rebate to international productions is also a big incentive for foreign film-makers.

Economy

One of South Africa’s most lucrative provinces, the Western Cape’s abundance of natural assets, established agricultural and tourism industries, broad sector base and a growing pool of young, energetic talent has embedded value, innovation and creativity into the business culture here making it an inspired hub for industry. Good governance provides a stable business environment. Infrastructure forms the gateway to the continent. This is largely due to the second busiest container port in the country being located here, as well as the second busiest international airport. Its expansive agricultural surroundings sees Cape Town acting as a processing, trade and retail hub for a wide range of export-quality produce.

Startup Environment

Different programmes have been put in place to remove unnecessary challenges and assist young entrepreneurs. 

Junior Achievement SA (JASA)

For over 38 years JASA’s in-school and out-of-school youth programmes have provided entrepreneurship, financial literacy and workplace readiness training, reaching upwards of 7 000 learners and young adults annually.

Through experiential learning, participants tackle real issues related to starting up and running small businesses, and the Services SETA has accredited 2 premium JASA programmes at NQF Level 4.

Out-of-school youth

The premium Youth Enterprise Development Programme guides 18 to 35 year-olds through the process of establishing sustainable businesses. For 6 months participants attend incubator- style classes, followed by a further 6 months of support and mentorship.

High school

The Enterprise Programme is the flagship offering for Grade 10 and 11 learners, where learners form companies and go through the entire process of starting up businesses and developing products or services, learning about all the aspects of entrepreneurship, as well as financial literacy and life skills. A longer version is the premium Entrepreneurship Academy Programme. There are other shorter entrepreneurial courses, including programmes focussing on addressing environmental issues, financial literacy, career planning and workplace readiness.

Primary school

Programmes aimed at Grade 4 to Grade 7 focus on entrepreneurship and financial literacy.

National Youth Development Agency (NYDA)

The National Youth Development Agency helps create opportunities for youth employment and youth entrepreneurship by developing, funding and supporting effective programmes. The fund was established by the South African Government in response to the high youth unemployment in the country.

NYDA Grant Programme

The NYDA Grant Programme aims to provide young entrepreneurs an opportunity to access both the financial and non-financial business development support to establish their survivalist businesses. 

The programme focusses on youth entrepreneurs who are just starting out and are displaying signs of future potential but not yet fully developed.

Young people interested in accessing the grant programme will have to commit to participate in the NYDA mentorship and voucher programme for a minimum of 2 years.

Please visit their website for more information.

Business Consultancy Services Voucher Programme (BCSVP)

The Business Consultancy Services Voucher Programme (BCSVP) is an NYDA programme that is designed to provide quality business development support to young entrepreneurs.  The programme aims to enhance the young entrepreneur’s participation in the mainstream economy. 

Young entrepreneurs are able to receive one-on-one business development support from professional companies that have the relevant skills and experience that can assist young entrepreneurs in developing their businesses in areas such as marketing, bookkeeping and financial administration, and due diligence. 

Apply for Small Business Funding in Western Cape

Western Cape Business facts:

Cape Town – SA’s second largest municipal economy, second most important contributor to national employment, contributing 9,5% (EGS – Baseline Statistics 2019). The Mother City really does offer everything needed for sustainable economic growth, like it’s world-class Central Business District (CBD) and established infrastructure across several sectors throughout the Western Cape.

But why exactly does this truly bustling node of commerce and industry offer such excellent value for investors compared to other international cities like New York or Singapore? What is it about Cape Town that attracts a diversity of locals and foreigners who want to live, work, study and play in a promising metropolis brimming with opportunity? For starters, Cape Town is incredibly inclusive. It’s a sustainable, vibrant urban environment with many global brands and local start-ups already thriving here.

Apply for Small Business Funding

Are you looking for Small Business Fanding in Western Cape?

Get approved for up to R1,500,000 today. No fees, no commitments.

CAPITAL CITY

CAPE TOWN

OTHER MAJOR CITIES

STELLENBOSCH
GEORGE
MOSSEL BAY

Its best to explore all financing options in Western Cape, contact Cape Town Capital to find out what loan your business qualifies for.

Our Funding Programs Include:

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