LED Growth Fund

LED Growth Fund

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If you’re running a business in a rural or less developed area of the Western Cape, you’re just the person who should be reading this…

IN OUR travels around the province, we’ve met dozens of people like you … ambitious, innovative, hardworking – and desperately keen for their businesses to succeed.

We know how difficult it has become to build a successful enterprise in many parts of the platteland – or even in townships not all that far from our bigger cities or towns.

And we’re well aware of how a stubborn global recession has multiplied your challenges.

We know that you will appreciate all the help that you can get from government.

That is why we think you will support the thinking behind – and the implementation of – our Local Economic Development (LED) Growth Fund.

Set up especially for you, its aim is to provide opportunities for enterprises like yours – in rural and other less developed areas of our province.

Accessing the fund could not be easier….

All that is required is for you to buy into the notion that cooperation among enterprises can open up a range of exciting possibilities – even if yours is one of the smallest businesses in your town.

The formation of a business ‘group’ in your area could put you on a pathway to success that you might never have previously thought possible.

Once you’ve formed your group, your next step becomes simpler still….

Go to your municipality and ask for an application form for the LED Fund. Officials there will give you all the information you need to fill it in correctly.

Your municipality is well aware of the fund’s potential to promote economic growth, and to deliver on development priorities in your region.

We believe that government assistance will increase the productivity and competitiveness of your business (and of others) – and that this, in turn, will promote growth and create more jobs.

Local government is as eager as the provincial government to see the process work well.

The fund is geared towards lending a hand to a number of businesses disciplines, including, infrastructure, research and development, training, fast-tracking of bureaucratic procedures, property rights, market studies and market access needs, and innovative ideas and proposals.

Government will, however, not be prescriptive about which businesses it will support.

But remember the success or otherwise of your application will depend on three things:

  1. Your application form must be accompanied by a proposal explaining how government support will increase the productivity of your business;
  2. You will need to partner at least one other business in this venture; and
  3. For your application to stand a chance of being successful, it will need to be co-financed by at least one private sector party (which will be expected to match government’s contribution Rand-for-Rand).

How to access the fund

What is required from you:

  1. Collect and complete an application form;
  2. Submit it to Casidra at the following address:
    Attention: Lieneke Thyssen
    P.O. Box 660
    Southern Paarl
  3. Be available during the assessment process for an on-site interview with the assessors;
  4. Make available any additional information that may be absent from the application form, or be required in addition to the information on the application form; and
  5. Be able to track the progress of your application by contacting the Department at (021) 483 9295 or aventer@pgwc.gov.za

What Government will do:

  1. Host information sessions across the province over the coming months to ensure access to detailed information of the fund is available;
  2. Make available brochures and application forms at the local information sessions, the Department and Casidra offices, as well as on the website: www.capegateway.gov.za
  3. Carry out two levels of assessments on the proposals by:
    • Firstly, verifying information and evaluating the business potential of the proposals you submitted;
    • Secondly, performing a more technical assessment aimed at addressing the sector/industry potential or impact of your proposal with the required government support
  4. Appoint an independent committee to carry out the final adjudication of your application, based on the above assessment results.
  5. Formally advise you if your application has been successful or not; and
  6. Notify you if your application has been unsuccessful; in the event of your application being unsuccessful, you may request reasons and advice regarding other options that may be explored.

More information on the LED Growth Fund is available at www.capegateway.gov.za

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