Black Enough? Correct Link included

Dear Successful Entrepreneur!

Sorry for the mistake, the correct link is now included!

Just last week I had a consultation with an Indian businessman, who explained to me that he is not Black enough to apply for a loan and a grant with Government Institutions. He received this information from a banker.

To simplify the matter I asked him, “Did you or your parents reside in South Africa during the Apartheid era and were denied the right to vote?” If you can answer this question with a YES, you are considered Black according to the B BBEE Act. (I understand that the Act involves more complexities, but this serves as a helpful guideline)

The confusion stems often from the Employment Equity Act. In larger corporations meeting specific staff thresholds, is a requirement. The workforce must mirror the demographic makeup of South Africa, distinguishing between Black, Indian, and Coloured categories. This is different from the B BBEE act for businesses.

If you want to apply for funding with any of the Government Institutions or B-BBEE funds feel free to do our free assessment and we will recommend the best next step.

To Your Succes

Your Funding Connection Team

Landline: +27 (0)31 761 8677 or Cellphone +27 (0)61 542 4037

Headquarters: 2 Old Main Road, Hillcrest Office Park, Hillcrest, KZN 3610

Satellite Offices:

Johannesburg: Infinity Venue, 30 4th Avenue, Northmead, Benoni, on appointments only