Black Industrialists Scheme powering black industrialists…
The Black Industrialists Scheme (“BIS”) is an incentive programme of the Black Industrialist Policy provided by the Department of Trade and Industry (hereafter referred to as “the DTI”). The grant aims to promote the participation of black industrialists as manufacturers in key sectors as identified in the Industrial Policy Action Plan.
Grant Offering
The Black Industrialists Scheme offers a cost-sharing grant ranging from 30% to 50% to approved entities to a maximum ofR50 million. The quantum of the grant will depend on the level of black ownership and management control, the economic benefit of the project and the project value.
The Black Industrialists Scheme offers support on a cost-sharing basis towards:
- capital investment costs;
- feasibility studies towards a bankable business plan (to the maximum of 3% of projected investment project cost);
- post-investment support (to the maximum of R500 000); and
- business development services (to the maximum of R2 million).
The maximum grant of R50 million may be fully utilised on capital investments or can be split between capital investment and other support measures (i.e. investment support, business development services and working capital).
Black industrialist entities wishing to apply for funding should contact the dti for guidance on completing the assessment form and supporting documents. Fully completed assessment forms must be submitted to the dti for pre-assessment and consideration for approval before commencement of the investment project.
Should there be no financial closure for the black industrialist project within 90 days after grant approval, the grant approval will be cancelled or withdrawn.
Going forward, Business Grants and Dream Team Capital can play an even more important role in the co-ordination, integration and reporting on the consolidated performance of the various fragmented energy efficiency initiatives in the country. Contact us today for professional assistance in streamlining your application for the Black Industrialists Scheme.