In our communities, many small business owners are struggling, but GrandWest is here to help those struggling businesses.
GrandWest is calling on local start-up businesses to apply for the 2023 GrandWest Enterprise and Supplier Development Programme (ESD) which aims to give SMMEs a hand-up to take their businesses to the next level.
Applications for start-up businesses are still open until Friday 9 June.
In addition to mentorship and knowledge sharing, the programme also assists small businesses with loans and grants which applicants can pay back over an agreed time. GrandWest’s total ESD programme spend for 2022 included R1,4 million spent in cash on business coaching and grants and the extension of loans to the value of R13,6 million.
The ESD was introduced in 2014 but formalised as a business incubation hub in 2018. Since 2014, the programme has supported over 30 community businesses and many have since been signed up as suppliers, and since 2018 it has granted over R17 million in loans and almost R6 million in grants.
Apply for free
“The application is completely free of charge,” Mervyn Naidoo, general manager of GrandWest says.
Naidoo added that “so many of the small businesses that have graduated from our ESD programme are flourishing and have gone on to make us proud. Many are still with us as suppliers. We look forward to welcoming new businesses to the class of 2023.”
According to Naidoo from the outset, GrandWest introduced the ESD model to address the challenges many small businesses face.
In year one, business owners are taught important subjects like financial control, governance in business, human resources skills, accounting and many more.
The criteria include having a registered business that is 51% empowered, some business acumen (in their field) and the business must have been in existence for at least two years.
Applicants need to submit a business proposal that includes a financial forecast, certified copies of their ID and that of all shareholders, their business registration documents, tax clearance certificate, B-BBEE certificate and a minimum of two years of audited financials. They can either drop off their applications and supporting documents at GrandWest or they can contact Chrissy Dyers on 021 505 7593 or Chrissy.dyers@suninternational.com to make arrangements or to get more information.
