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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.

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Presentation on theme: "My presentation will focus on the following four main topics: ABSA Financial Product: Joint SMME Fund Challenges we face in funding SMMEs Solutions."— Presentation transcript:

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3 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 INTRODUCTION

4 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 1. JOINT SMME FUND

5 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 1.1.EXCLUSSIONS

6 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 1.2.KEY REQUIREMENTS

7 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 2.CHALLENGES IN FUNDING SMMEs

8 Why Small Businesses Fail! Financial management, records & management competence = 64% Sales & Marketing = 11% 73% Failure is from these factors Financial management, records & management competence = 64% Financial management, records & management competence = 62%

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. SOLUTION FOR SMALL BUSINESS

10 3.1. BUSINESS ADVANTAGE Business Plan ProMarketing Plan ProMindLeadersQuickBooks ProSucceed MagazineNetworking Opportunities Business Plan ProMarketing Plan ProMind LeadersQuickBooks Pro Business Essentials Business Advantage R290 (inc VAT) per month R 185 (inc VAT) per month

11 Information Dissemination Business plan assessment Training workshops Advisory services Business registrations Semi-incubator: Consulting, Internet, printing service Maintaining stakeholder relations OTHER BANK SOLUTIONS FOR SMME 4. ENTERPRISE DEVELOPMENT CENTRES

12 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 4.1. OTHER SOLUTIONS FOR SMME IN OUR EDC/BRANCHES

13 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 4.2.CHAMBER: SMME DESKS

14 Chris Ngcobo Manager Enterprise Development Centre 127 Johannes Nkosi Street/ Alice Street- Seda Centre Durban 4001 031 309 5330/1 Email Address: Bhekani.Ngcobo@absa.co.zaBhekani.Ngcobo@absa.co.za OR Rem Biyela Manager Enterprise Development Centre 204 Peter Kerchhoff Street Pietermaritzburg 3201 033-264 3860 Email Address: Remb@absa.co.za CONTACT DETAILS

15 CONSTRUCTIVE ENGAGEMENT ? SMALL BUSINESS IS BIG BUSINESS


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