Umsobomvu Youth Fund
The Umsobomvu Youth Fund is a government programme that facilitates access to business knowledge for entrepreneurs. If you, or your business partner, are under the age of 35 years, you qualify for business development vouchers of which you only pay R200! Each qualifying member (shareholding equal to or more than 25%) in the business can obtain a maximum of four vouchers.
Government has created a skills development initiative within the youth sector. At present the highest unemployment rate is within the youth. The fund is aimed at people of all races who are aged between 18 and 35. Some of the services offered are business plans, business registration, marketing, financial planning, business engineering, product development, accounting and bookkeeping etc. It is focused on new and existing businesses. UYF vouchers are now also available to women over the age of 35, thus broadening the scope.
The Umsobomvu Youth Fund can be investigated at www.uyf.org.za and www.youthportal.org.za.
SEDA – Small Enterprise Development Agency
The Small Enterprise Development Agency (seda) was established in December 2004 in terms of the National Small Business Amendment Act. This law merged the previous small enterprise development agencies Ntsika enterprise Promotion Agency, NAMAC Trust and the Community Public Private Partnerships (CPPP) into a single small enterprise support agency.
The mandate of seda is to design and implement a standard national delivery network that must uniformly apply throughout the country. Its role includes the support and promotion of co-operative enterprises, particularly those located in rural areas. The work of seda is carried out in line with the Department of Trade and industry’ Integrated Small Enterprise Development Strategy, which aims to:
- Strengthen support for SMME’s to access finance;
- Create an enabling regulatory environment
- Expand market opportunities for specific categories of small enterprises
- Localize small business support through a grid of seda-coordinated information and advice access points
- Initiate a national entrepreneurship drive and expand education and training for small business
- Co-fund minimum business infrastructure facilities in local authority areas across the country
In terms of this strategy, seda’s delivery network must reach all regions of the country and integrate government-funded small enterprise support across all tiers of government. Regarding business infrastructure facilities, the strategy expects that the integrated strategy has to link up closely with current local economic development (LED) efforts in all municipalities.
SEDA can be investigated at www.seda.org.za
SA Business Hub
SA Business Hub is a privately owned business that specializes in creating a network of SMME’s and service providers who are in need of specialized services. The network is E-driven and provides extensive products and services to their members.
Non-members are also allowed to shop on the site, but will pay an increased fee for the products and services.
SA Business Hub can be investigated at www.sabusinesshub.co.za