Call for women entrepreneurs to take advantage of available funding

Overview | Available funding

"Entrepreneurial women who are building and expanding businesses with real potential need to know that WEF finance is available." Meryl Mamathuba, Head of Development Funds, IDC

The IDC has set aside funds to finance women-owned enterprises through the Women Entrepreneurial Fund (WEF). This fund applies to businesses with a minimum shareholding by women of at least 50%; shareholding between 25% and 50% will be considered on revised terms.

The funding instruments applied are equity, quasi-equity or loans. Business support in the form of business plan enhancement, training and mentorship may be offered to qualifying applicants by the IDC through grants or partial funding.

The IDC wants to give pre-qualifying businesses a direct channel to review plans, receive feedback and discuss funding opportunities. In order to participate, please follow the steps below.

Step 1: Please answer the questions below to check your eligibility for finance and submit your 1-page business proposal online. If you are not eligible, click here for other funding opportunities.

• Do I have a solid, fundable business plan to start or expand a business operating within an identified market?
• Does my business plan include financial plans detailing required capital expenditure, working capital requirements, resourcing and operational involvement?
• Do I need funding of over R1 million?
• Does my business have a minimum shareholding by women of at least 50%? (shareholding between 25% and 50% can be considered on revised terms)
• Are some or all of the female shareholders of the business involved operationally and/or in management in the business?
• Is my business in one of the IDC priority sectors? (agro-industries, chemicals and allied industries, forestry and wood products, green industries, healthcare, information and communication technology, media and motion pictures, metal transport and machinery products, mining and minerals beneficiation, tourism, textiles, industrial infrastructure)
• Do I have an understanding of the types of businesses the IDC does and doesn’t fund within my sector? Some of the exclusions are franchising, pure acquisitions, construction, import and export, retail, primary agriculture, property development and consulting services for example recruitment and engineering.

Step 2: Receive feedback (on your 1-page submission) by the 1st of November. If you qualify, you will be invited to submit a full business plan for consideration by the 7th of December.

Step 3: Qualifying entrepreneurs will receive feedback (on full business plan submissions) by the 20th of January. You will also receive details of the engagement event taking place from 7 - 8 February 2013.