For small and medium-sized enterprises (SMEs) to thrive, access to a financial base, mentorship, and markets are critical. These allow entrepreneurs to innovate, improve efficiency, expand to new markets, and provide millions of jobs.
Globally, SMEs account for the majority of businesses and serve as important contributors to job creation and global economic development. In Nigeria, they contribute 48% of the national GDP, account for 96% of businesses and 84% of employment, according to a PwC survey.
Smartpreneur looks at seven ways SMEs can get grants to scale their businesses in 2021:
1. Tony Elumelu Foundation Entrepreneurship Programme
The Tony Elumelu Foundation (TEF) is empowering a new generation of African entrepreneurs, through the TEF Entrepreneurship Programme. Successful applicants receive world-class business training, mentorship, non-refundable seed capital up to $5,000, and global networking opportunities. The Programme is open to entrepreneurs across Africa, both new start-ups and existing young businesses, operating in any sector.
You can read more via www.tefconnect.com
2. Seedstars Africa
In April 2019, Seedstars announced a $100-million fund to invest in African startups in collaboration with Paris-based First Growth Ventures.
The fund aims to make between $250 000 to $5-million in Series-A and Series-B deals.
You can follow the conversation here: https://www.seedstarsworld.com/
3. Root Capital
Root Capital invests in the growth of agricultural enterprises that support these smallholder farmers. The company seeks enterprises whose credit needs are too big for microfinance and too small or risky for commercial banks.
It offers loans ranging from about $200,000 to $2 million tailored to harvest and sales cycles. It adds highly-customized training to strengthen their financial management, governance, and agronomic capacity.
Follow the link to apply for the grant: https://rootcapital.org/how-to-apply-for-a-loan/
4. VC4 Africa
VC4A is Africa’s startup community. Started in 2007, the network building organization, is now one of the leading communities working to build high growth high impact companies globally. It connects entrepreneurs with the knowledge, support programs, mentors, and investors they need to succeed.
Join the community for timeline opportunities and networkings: https://vc4a.com/
5. Savannah Fund
Savannah Fund is a seed capital fund specializing in US$50,000—US$1,000,000 investments in early-stage high growth technology startups in sub-Saharan Africa.
To apply to Savannah Fund’s Accelerator Programs, visit: http://savannah.vc/accelerator/
6. Lundin Foundation
Lundin Foundation is an organization founded in the year 2005 by a Swedish family named Lundin. However, Its headquarters is in Canada, with its regional offices in Ghana and Kenya.
Also, several businesses and entrepreneurs in over 15 African Countries have benefited from SME grants funded by the Lundin Foundation.
Write to them: firstname.lastname@example.org
Tshikululu is South Africa’s leading social investment fund manager and advisor, working alongside investors and other development partners to achieve sustainable social impact. It offers opportunities from grant-making to impact investing – that seeks to drive and measure social impact.
Follow the link to apply for funding: https://tshikululu.org.za/apply-for-funding/