Business Partners, the specialist funding and mentorship company, says that it will make R1-billion available for its 2013-14 financial year to spend on business infrastructure, advice and after-care service for small and medium enterprises (SMEs).
The company’s venture fund which stood at R400 million when it launched last year, will become a major focus. Business Partners hope to attract entrepreneurs with businesses, concepts, products or services with high-growth potential, especially in the in the technology, bio-technology, renewable energy and agro-processing sectors.
According to Christo Botes, executive director at Business Partners, there is still an appetite for SME finance in South Africa despite challenging economic times, reports Fin24.
Business Partners believes that there is room for growth in the IT and communications sector due to its innovation potential. As the economy takes a beating, the company predicts that corporates will tighten their core business focus and outsource non-core functions to SMEs — good news for enterprise facing startups.
Business Partners provides specialist risk finance for SMEs in South Africa, as well as selected African countries, and supports entrepreneurial growth through financing, mentorship and added-value services for small and medium-sized businesses.