Khulisa Ibiznis Funding Accelerator Programme

Frequently Asked Questions

Q: What is KHULISA IBIZNIS?
A: Khulisa iBiznis which means “grow your business” in isiZulu, is a SAICA ED programme that is designed to assist small businesses based in 3 townships (Soweto, Kathorus and Tembisa) to become funder and investment ready.

Q: What is the application criteria for the programme?
A: 51% Black and South African-owned businesses with a director/directors who are between 18 - 35 years old. The business must be operating in the following townships: Soweto, Tembisa and Kathorus.

Q: If my business operations are outside of Soweto, Kathorus and Tembisa, can I still apply?
A: No. Unfortunately, the programme is only targeted at businesses with operations in Soweto, Kathorus and Tembisa. If your business falls outside these townships, your application will not qualify.

Q: How can I apply for the programme?
A: SMMEs who meet the above-mentioned application criteria can apply online via the SAICA website.

Q: What is the closing date for applications?
A: 10 August 2019.

Q: After submitting my application form, what are the next steps?
A: The SAICA ED team will be sending communication (Email and/or SMS) to qualifying applicants. The qualifying applicants who have submitted pre-qualifying information, will later be called in for an interview to pitch their business to a panel of judges. This will be followed by final selection of SMMEs who will form part of the 2019/2020 programme.

Q: Who can I contact should I have more questions about the programme?
A: Contact: 011 479 0605 OR send an email to khulisaibiznis@saicaed.co.za.
Feel free to also follow #KhulisaiBiznis on social media.

Q: How long will be the programme run and how often do I have to attend the classes should I be selected?
A: The programme will run for a duration of 12 months, starting from the first week of October 2019. Selected SMMEs will have to attend classes and respective training sessions 1-2 times a month (selected SMMEs will have the schedule sent to them).

Q: What are the benefits of the programme?
A: All the qualifying and selected SMMEs will be assisted with some or all of the following:

  1. Compliance, internal control and financial reporting
  2. Provision of a finance coach (Skilled Chartered Accountant) to assist with financial strategy, growth and funding plans
  3. Provision of financial literacy training to understand the fundamentals of accounting and finances.
  4. Provision of finance, funding, legal and business related workshops that will strengthen their knowledge around general business management.
  5. A trained bookkeeper who will be capturing and processing source documents and providing monthly management accounts, tax and payroll services

Q: Is there a commitment fee that I need to pay once my company has been selected to be in the programme?
A: The commitment fee will R250 - R350 per month. The amount is dependent on the level of support that exists within the SMMEs.

Q: Upon completion of the training segment of the programme, what will I receive?
A: Candidates will only receive a certificate of attendance post completing the training. Moreover, funding opportunities will be determined by the readiness of the SMME owner, and his/her business maturity.