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Services
Service industries can benefit from certain specialized funds and general SME financing.
For instance, if you operate in tourism or hospitality, the Tourism Transformation Fund (blended finance) is geared toward black-owned tourism projects (hotels, attractions, etc.). Creative industries (film, TV, media) have dedicated incentives such as the SA Film and Television Production Incentive (offered by the dtic) and NEF’s Arts & Culture Venture Capital Fund which provides loans to creative sector businesses. Businesses in ICT or business process outsourcing might tap into the Global Business Services (GBS) incentive, which rewards companies for creating jobs in offshore business services. Many service businesses can also access generic programs – for example, a woman-led services firm could seek support from IDC’s Women Entrepreneurial Fund or an NEF loan if it’s black-owned.
Available Funds for the services sector
Spaza Shop Support Fund
The NEF Spaza Shop Support Fund provides financial and non-financial support to South African-owned spaza shops and township community convenience stores to improve their facilities, access bulk purchasing, and build operational capacity in the township and rural retail sector.
Support Programme for Industrial Innovation (SPII)
The Support Programme for Industrial Innovation (SPII) provides non-repayable grants to South African businesses and individuals to financially support the development of technologically innovative products and/or processes. The programme is focused specifically on the development phase — from the conclusion of basic research through to the production of a pre-production prototype.
Tourism Transformation Fund (TTF)
The Tourism Transformation Fund (TTF) is a dedicated capital investment fund established by the Department of Tourism and administered by the NEF, providing a combination of grant funding, debt financing, and equity contributions to black entrepreneurs in the tourism sector.
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