The Small Enterprise Development Agency (SEDA) has officially opened applications for its Asset Assist Funding program, offering small businesses the opportunity to access funding for essential tools, equipment, and assets. With applications closing in late January 2025, now is the time for business owners to focus on becoming fully compliant and prepared to take advantage of this support.
One of the key requirements to qualify for SEDA’s Asset Assist Funding is business compliance. Small businesses must be formally registered with the Companies and Intellectual Property Commission (CIPC) and possess a valid tax clearance certificate from SARS to demonstrate tax compliance. These are not just funding requirements but essential steps for businesses aiming to operate sustainably and access growth opportunities.
Many small businesses struggle to secure funding because they are not compliant with legal and financial regulations. SEDA’s program serves as a reminder of the importance of getting business structures in order. By registering your company, ensuring tax compliance, and maintaining updated financial records, you position your business not only for SEDA funding but for other future opportunities as well.
Beyond compliance, small business owners are encouraged to seek business support to improve their operations and strategies. SEDA offers additional services, including mentorship, business development advice, and guidance on preparing robust business plans or funding proposals. These plans are critical for Asset Assist Funding, as applicants must clearly demonstrate how acquiring assets will improve their operations, increase productivity, and drive growth.
Small businesses looking to apply can start by assessing their compliance status. This includes confirming company registration, ensuring taxes are up to date, and organizing financial statements. SEDA offices and business consultants are available to assist with compliance and application preparation, ensuring businesses submit strong, competitive proposals.
With the January 2025 deadline fast approaching, now is the time to act. By becoming compliant and accessing business support, small businesses can unlock opportunities like the SEDA Asset Assist Funding to secure the tools and assets needed for long-term success. For more information, business owners can contact their nearest SEDA office or visit the official SEDA website for guidance and support. enquire for business support solutions by emailing marketing@vmradio.co.za
Columnist
Leigh Ngwane