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Young Entrepreneurs Campaign

Stand up

Young Entrepreneurs Campaign

Bulelani Nxumalo Bulelani Nxumalo

Bulelani Nxumalo stood up when he realised that there is no infrastructure development without steel.

In 2007, Nxumalo left a stable job in Johannesburg and moved back to his hometown in Pietermaritzburg to pursue what he had been yearning to do all his life. He used his skills to start the Umzungulu Steel Projects, a company that supplies steel to the construction industry.

Nxumalo tried different avenues to expand his venture, but had a hard time finding financial support until he partnered with the IDC to expand his business. The IDC’s support was not limited to financial assistance; it also provided business mentoring, HR support and engineering consultants to take his business to the next level.

Umzungulu Steel Project’s products are now SABS approved. He has since won a contract to supply steel products for 25 000 houses in Msunduzi Municipality. The company has grown from two to 22 employees operating in a factory on an industrial site.

Partner with the IDC

The IDC plays an important role in growing the economy, creating industries and facilitating job creation. Realising the potential of young entrepreneurs like Nxumalo, the IDC has set aside R1- billion to fund youth-owned businesses.

The IDC offers both financial and non-financial support to youth enterprises. The corporation is calling on all young entrepreneurs to stand up and lead industrial development.

Sectors we fund

The IDC has identified sectors based on the potential to create jobs and contribute to industrial development and will therefore only fund businesses which operate in these specific sectors: For more information and list of these sectors, click here.

Business plan guidelines

To apply for funding, young entrepreneurs should submit a detailed business plan containing as much information about the company as possible, such as an overview of the business, production, staffing, capital structure, market analysis, forecasting, and balance and income sheets. The more facts in the business plan, the easier it is to make a decision on whether or not to invest in a business.

For a comprehensive business plan guideline, click here.

Do you qualify?

If you are a young entrepreneur and have a sound business plan or idea, you are half-way there.  Because the IDC is particularly focusing on the youth, we have developed the following criteria:

  • Over 50% ownership by persons under 35 years of age;
  • Businesses operating or expanding in South Africa;
  • Businesses that demonstrate that they have economic sustainability and are able to derive profits from their operations;  and
  • Broad-Based Black Economic Empowerment certification from an accredited verification agency, where applicable.

How we fund

There are various methods to fund start-up or existing businesses and the IDC will consider the best way to provide funding, which could include debt, equity, venture capital or various other financial instruments. As the IDC wants to help businesses to grow, the best possible solution will be found. 

Contacts

The IDC has offices in all the provinces in South Africa. For all the contact details, click here.

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Our strategic business units work in three distinct areas: the services sector; within the mining and manufacturing sector; and in the agro-processing and new industries environment. MORE >

Our regional support

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Domestic Medium Term Note Programme

The Industrial Development Corporation of South Africa Ltd has established a ZAR15,000,000,000 Domestic Medium Term Note Programme (as amended and updated on 17 July 2012). You can read the memorandum here. MORE >

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