Funding Fair a chance to raise capital

WESTERN Cape-based entrepreneurs are set to meet with funding organisations, engage with potential investors about their businesses and take part in business master classes at the 2018 Western Cape Funding Fair, at the Cape Town International Convention Centre on May 8.

The event, hosted by the Western Cape department of economic development and tourism, in partnership with Deloitte, is free to businesses and entrepreneurs.

The role of small business in promoting sustainable growth is a key topic on South Africa’s economic transformation agenda.

Small and medium-sized enterprises (SMEs) contribute about 34% to the gross domestic product (GDP) and are a key driver of job creation, with research showing that they provide employment to about 60% of the labour force.

However, one of the reasons frequently cited for business failure is insufficient funding and financial know-how.

“Deloitte developed the Funding Fair determined to help entrepreneurs become more sustainable,” said Marius Alberts, Deloitte Western Cape leader.

Minister of Economic Opportunities, Alan Winde said: “The Western Cape Funding Fair is a way for us to connect these start-up businesses with the people who could fund their development and growth.” Alberts said since 2014 more than 3 000 entrepreneurs and business owners had attended the Funding Fair.

More than 25 funders will exhibit at this year’s Funding Fair and entrepreneurs will have the opportunity to pitch their business ideas via video to potential funders from investment platform PitchLab.

Those attending the master classes will hear from industry experts such as Pavlo Phitidis, Aurik Business Accelerator, Hayley Walters and Seed Engine about a broad range of topics, including how to build a relevant business into the future and leveraging digital to drive entrepreneurial success.