The South African government has a range of cash and tax incentives from various departments and institutions which Uzenzele assists its clients to access. Uzenzele will assist to prepare, submit and facilitate applications from initiation right through to claim or drawdown of funds.
During 2016/17 a total of 1 549 enterprises were approved across all the Incentive Development and Administration Division (IDAD) incentives at the Department of Trade and Industry (DTI), totaling an amount of R12.8 billion and attracting an estimated R39.4 billion. This excludes cash and tax incentives through other institutions such as SARS, The IDC and various other institutions.
These incentives and grants are, by nature, long term strategic financial solutions and are not for short term cash flow requirements. These solutions incentivise growing businesses to grow faster and more sustainably and, in most cases, require that the business is able to contribute matched funding between 10% and 90% with that of the granting institution.
The allocation of these funds is to businesses that are able to show viability in their growth and bankability. Whilst they are for both startup and expansion phased businesses, startups have a higher responsibility to show the probability of the return on the investment, i.e. economic activity, job creation and tax incomes, in order to unlock these incentives.
Uzenzele focuses on a set core of incentives from the various institutions, including but not limited to: