Are you "Black Enough" to qualify for funding?

Dear Successful Entrepreneur!

I have always had discussions with South Africans about the BEE requirements and entrepreneurs believe that they are not Black enough to apply for a loan and a grant with Government Institutions.

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

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