Results 1 to 6 of 6

Thread: "Start your business with free capital"

  1. #1
    Bronze Member
    Join Date
    Jan 2007
    Location
    Cape Town
    Posts
    123
    Thanks
    13
    Thanked 8 Times in 7 Posts

    "Start your business with free capital"

    This is a so-called gift from the Prestige Bulletin mentioned in another thread.

    The claim made is that anyone (all races) can get capital from the government for free. How to go about doing it will be made known when one subscribes to their Prestige Bulletin. One could get up to R1,5m with no pay back.

    Any one on the forum with experience about this
    Faan Kruger
    +27 82 853 7879
    krugerfaan@gmail.com

  2. #2
    New Member
    Join Date
    Mar 2012
    Location
    Pretoria
    Posts
    5
    Thanks
    0
    Thanked 0 Times in 0 Posts
    I have worked with quite a few agencies that provides funds for start-ups, and I have never come across an offer like this. Unless they are referring to DTI? That is open to everyone I guess, or at least they do not discriminate against racial groups in theory. I am not an expert on the support that DTI gives so I cant say whether it is free or not.

    Khula is another agency that gives support to all racial groups (I have personally helped white people get assistance from them) but they are not free, or cheap for that matter.

  3. #3
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    22,648
    Thanks
    3,304
    Thanked 2,676 Times in 2,257 Posts
    Blog Entries
    12
    I vaguely recall a pretty hefty employment creation grant from the DTI - via a DTI agency, I think.

    Quote Originally Posted by Faan View Post
    One could get up to R1,5m with no pay back.
    Not sure whether to point to some of the examples where that's been happening anyway, regardless of the contract or source of the funds, and on a much larger scale

    How about ripping off the Land Bank, or trade union pension funds.

  4. #4
    Silver Member Greig Whitton's Avatar
    Join Date
    Mar 2014
    Location
    Cape Town
    Posts
    338
    Thanks
    33
    Thanked 105 Times in 86 Posts
    It's also non-existent.

    [Source: my company is certified and contracted by the DTI and DSBD for the Black Business Supplier Development Programmme, and am very familiar with most government funding agencies including the IDC, NEF, SEFA, and SEDA]

    Founder of Growth Surge - Helping entrepreneurs create more wealth and enjoy more freedom.

  5. Thanks given for this post:

    Xplosiv (14-Mar-18)

  6. #5
    Email problem
    Join Date
    Jun 2017
    Location
    east london south africa
    Posts
    168
    Thanks
    41
    Thanked 14 Times in 13 Posts
    Ive worked with a client and seda , they are a member of the DTI, on the business leaders growth forum. They do supply funding to formerly disadvantaged business owners, not R1.5mil though.
    I cant imagine anyone handing out that kind of money without some kind of return in mind. Why is it when people hear "free money" ( and usually the bigger the sum ) the more likely they are to believe it.
    Graphic Design company in East London South Africa | Web design company in East London South Africa
    " A plumbers tap always leaks " - Great advice from a forum member

  7. #6
    Silver Member Greig Whitton's Avatar
    Join Date
    Mar 2014
    Location
    Cape Town
    Posts
    338
    Thanks
    33
    Thanked 105 Times in 86 Posts
    Yes, SEDA does subsidise business development services on a (usually) generous cost-share basis. However, they don't provide funding directly (i.e. they pay service providers to complete a specific project rather than giving cash to applicant entrepreneurs). Certainly nowhere close to R1.5M. Also, like many government funding agencies, their application management is horrendous so expect long delays before your application is processed & approved (typically a year or so).

    SEDA funding is not limited to previously disadvantaged business owners. Any startup / SME can apply. While this is not true of every government agency / program (e.g. the NEF only funds black-owned companies), there are a number of funding options (including non-repayable grant funds) that are available to all.

    Founder of Growth Surge - Helping entrepreneurs create more wealth and enjoy more freedom.

Similar Threads

  1. Zuma Controversy " Cast the First Stone...""
    By sgafc in forum South African Politics Forum
    Replies: 23
    Last Post: 17-Feb-10, 03:02 PM
  2. [Opinion] free copy of "Quick and Dirty Info Income"
    By TomRasi in forum Marketing Forum
    Replies: 0
    Last Post: 27-Oct-09, 08:23 AM
  3. Interesting "risk free" property scheme
    By duncan drennan in forum General Business Forum
    Replies: 1
    Last Post: 03-Oct-07, 09:26 AM
  4. For Business "geeks"
    By duncan drennan in forum General Business Forum
    Replies: 0
    Last Post: 13-Apr-07, 11:09 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •