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Western Cape Funding Fair lending a hand to small business

May 08 2018 13:53

Cape Town - Entrepreneurs in the Western Cape will once again have the opportunity to meet with funding organisations, engage with potential investors about their businesses and take part in business masterclasses at the 2018 Western Cape Funding Fair taking place at the Cape Town International Convention Centre (CTICC) on Tuesday 8 May.
 
The Western Cape Department of Economic Development and Tourism (DEDAT), in partnership with Deloitte, will be hosting this event which is free of charge to businesses and entrepreneurs.

The role of small business in promoting sustainable growth is a key topic on South Africa’s economic transformation agenda. Small and medium size enterprises (SMEs) contribute around 34% to the GDP and are a key driver of job creation, with research showing that they provide employment to about 60% of the labour force.

However, one of the reasons frequently cited for business failure is insufficient funding and financial know-how.

“Deloitte developed the Funding Fair determined to help entrepreneurs become more sustainable,” says Marius Alberts, Deloitte Western Cape Leader.

“We have learnt first-hand from those attending the Funding Fair about the challenges they face in securing funding, and we tailor the programme to address this critical issue. Deloitte is in the process of implementing a Digital Venturing Programme designed to establish an exclusive group of high-potential scale-up companies that Deloitte Africa can collaborate with to co-develop new service or product offerings for our market."

Cornerstone

Western Cape Minister of Economic Opportunities Alan Winde said entrepreneurship is a cornerstone of SA's economy and a major driver of job creation.

"The Western Cape Funding Fair is a way for us to connect these start-up businesses with the people who could fund their development and growth,” says Winde.

Alberts says that since 2014 over 3 000 entrepreneurs and business owners have attended the Funding Fair.

“Guided by feedback from previous years, the programme this year has been carefully structured to provide a robust and engaging full-day event,” says Alberts.

In 2018 over 25 funders will exhibit at the Funding Fair and will be available for entrepreneurs to interact with. Entrepreneurs will also have the opportunity to pitch their business ideas via video to potential funders from investment platform PitchLab.

Panel discussions will be held with entrepreneurs that have successfully grown their business ventures, where they share the lessons they learnt along the way.
 
Those attending the master classes will hear from industry experts including Pavlo Phitidis, Aurik Business Accelerator and Hayley Walters, Seed Engine about a broad range of topics including how to build a relevant business into the future and Leveraging digital to drive entrepreneurial success. Investment specialists will provide guidance on how to be investment ready and how to avoid classic entrepreneurial mistakes in managing finances.

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