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My presentation will focus on the following four main topics:
• ABSA Financial Product: Joint SMME Fund
• Challenges we face in funding SMMEs
• Solutions for small business
• Enterprise Development Centre / Chamber SMME Desks
• Joint Venture between Absa and Department of Economic
Development and Tourism- KZN
• Finance between R10 000 and R1 000 000
• Main focus on bridging finance: Tenders
• Main requirements: Letter of award and business profile
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Non SA Citizens
Individuals under the age of 21
Money raising
Enrichment
All trust, Public Companies, All Section 21 Companies
Mining and oil exploration,
Commercial property finance
Vehicle finance
No split Banking is allowed
Multiple ownerships in other businesses
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Comprehensive Business Plan/Profile
Lease Agreements
Financial Statements
CV
Identity Document
Marital Certificate
Assets and Liabilities
Financial Statements (Expansion).
Cash Flow Projections
Bank Statements
Buy/Sell or Purchase Agreement
Fica Documents
Proof of own contribution
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ITC- No arrangements have been made with creditors
Multiple ownerships in other businesses
Documents not submitted in time
Quality of the business plan
Lack of skills in the type business one wants to start
Lack of understanding business financial model
Inaccurate cash flow statements
Clients present their applications late
Clients have arrangement with third parties to do execute tenders
Financial
management ,
records &
management
competence =
Why Small
Businesses Fail!
64%
62%
Lack of management
competence
16%
Poor financial
management
Inflation and economic
conditions
73% Failure is
from these
factors
34%
12%
Sales &
Marketing =
11%
Poor book keeping
and records
12%
Union problems
6%
Sales and marketing
problems
Staffing problems
11%
9%
• How Absa Can Help You Grow Your Business
We are dedicated to helping you grow and succeed in your business
Our Business Essentials and Business Advantage Packages provide
the key tools and services that most successful business customers use.
The Business Essentials and Business Advantage Packages are
perfect for those customers who wish to increase their chances of business
survival, success and growth
QuickBooks have invoice, debtors and creditors journal, monthly
management accounts, income statement, cash flow statement, balance
sheet etc.
3.1. BUSINESS ADVANTAGE
Business Essentials
Business Plan Pro
Marketing Plan Pro
Mind Leaders
R 185 (inc VAT) per month
QuickBooks Pro
Business Advantage
Business Plan Pro
Marketing Plan Pro
MindLeaders
R290 (inc VAT) per month
QuickBooks Pro
Succeed Magazine
Networking Opportunities
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Information Dissemination
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Business plan assessment
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Training workshops
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Advisory services
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Business registrations
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Semi-incubator: Consulting, Internet, printing service
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Maintaining stakeholder relations
1.
Learnership (150 Participants)
12 Months Programme/ R1500.00 Stipend
2.
Enterprise Growth Programme(24 Participants)- KPMG
Business Simulation Training / Quickbooks Training
Sales and Marketing / Financial Intelligence/
Banking Principles
3.
Sector specific interventions: Training and Networking
4.
Normal Banking Products: Bizstart and Cheque Account
These products are backed by Notify Me, cellphone banking and
Internet Banking
• Durban Chamber of Commerce and Industry
190 Stelwart Simelane Street
Durban
4001
Gugu Ngcobo: 031-335 1000
Gugun@absa.co.za
• Pietermaritzburg Chamber of Commerce and Industry
Chamber House
Royal Showground
Pietermaritzburg
3201
Mandisa Jostrey: 033-345 2747
woman@pcb.org.za
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Chris Ngcobo
Manager
Enterprise Development Centre
127 Johannes Nkosi Street/ Alice Street- Seda Centre
Durban
4001
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031 309 5330/1
Email Address: Bhekani.Ngcobo@absa.co.za
OR
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Rem Biyela
Manager
Enterprise Development Centre
204 Peter Kerchhoff Street
Pietermaritzburg
3201
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033-264 3860
Email Address: Remb@absa.co.za
CONSTRUCTIVE
ENGAGEMENT
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