Lesson 2: How to Get Money to Start Your Business

Bootstrap

Bootstrapping means starting a business without getting a loan. This means you’ll have to fund your business using your own money, but this is not always possible. Below is a list of places where you can apply for funding.

Apply for Funding

You can approach your government for low-interest loans given to people who want to start businesses. There are also organisations that provide loans and connect business owners to investors. To find out more, go to your country’s department of trade and industry website.

Funders in South Africa

Isivande Women’s Fund:
011 772 7910

National Empowerment Fund: 
www.nefcorp.co.za
0861 849 633

Industrial Development Corporation Funding: 
Web: www.idc.co.za
Phone: 011 269 3000

Small Enterprise Finance Agency:
www.seda.org.za
012 441 1000

Khula SME Fund: 
www.sefa.org.za
011 807 8464

Black Business Supplier Development Programme: 
www.bbsdp.co.za
071 551 2108

Incubation Support Programme: 
www.thedti.gov.za
0861 843 384

National Youth Development Agency: 
www.nyda.gov.za
0800 52 52 52.

Funding Around Africa

There are around 50 organisations that focus on funding for entrepreneurs and businesses in Africa. They have different requirements and include private foundations and partnerships with American and European funders. Go to www.smallstarter.com for more information.

TEEP

Tony Elumelu Foundation Entrepreneurship Programme (TEEP) is a programme that gives training, funding, and mentoring to business people across Africa. Go to www.tonyelumelufoundation.org for more information.