Cape Town – The Western Cape Funding Fair is the perfect platform for entrepreneurs in the province to secure funding for their business, but they need to register soon.
Deloitte and the department, with a shared vision of supporting economic growth in the Western Cape, have developed an exhibition and conference-style platform where businesses and funders have the opportunity to connect. This year’s event has already attracted more than 15 funders.
Since 2015 the event has attracted more than 1800 businesses seeking funding and has allocated over R12 million in funding by investors and a further R37m in value of deals pending. The rate of deal flow which takes place at the fair is higher than normal at five in 20 versus the general industry standard of one in 10 businesses being funded.
Marius Alberts, Deloitte Western Cape leader, said: “Given the slight upturn in our economy and evolving funding landscape, this year we anticipate an increased level of interest from funders seeking to potentially back those business they believe will succeed.”
Economic Opportunities MEC Alan Winde said the Western Cape government and the department recognise the power of growing enterprises in driving economic growth and job creation.
“Through our dedicated programmes we are committed to helping businesses secure the funding they require to succeed.”
Winde said that the event was one of several key initiatives the department had put in place to bolster businesses in the Western Cape, while another initiative, the Investment Readiness Programme, sees the department working with growing businesses and the private sector to prepare them for investment.
CAPE ARGUS/Iol News