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 email@example.com.
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:
- Compliance, internal control and financial reporting
- Provision of a finance coach (Skilled Chartered Accountant) to assist with financial strategy, growth and funding plans
- Provision of financial literacy training to understand the fundamentals of accounting and finances.
- Provision of finance, funding, legal and business related workshops that will strengthen their knowledge around general business management.
- 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.