What form of business is best?

One of the most important things you need to do is to decide what form of business your SME will be? There are many forms of businesss: from sole proprietorships, to partnerships, to CCs, to PTY LTDs. The most likely form for your small business will either be sole proprietorship or a close corporation.
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Home Financing Facilities Innovation Fund

Innovation Fund

The DBN identified a need to provide financial support to entrepreneurs with original business concepts and technology that may not have been fully tested and harnessed, but that have potential to deliver new or improved products and services to the market. To this end, the Bank established an Innovation Fund through which it avails finance to entrepreneurs who meet the stated criteria related to its characterisation of innovation and in terms of its overall investment guidelines.

The purpose of the Innovation Fund is to foster implementation of concepts that will enable delivery of new products and services to the market.

Project identification
  • The DBN will identify projects that meet stated criteria related to its characterisation of innovation and in terms of its lending guidelines, using the following guidelines:
    • The invention of a new product or services; or
    • The improvement of a new product or service; or
    • A new process of adding value to a Namibian-sourced raw material.
    • The products, services or processes should be able to find a market or use in the local or export market.
    • There is no application form, for this product line. Requests can be made in writing to DBN and such requests must be accompanied by a business plan. Further information may be requested by DBN.
Eligibility
  • Applicants should be Namibian citizens or businesses with a majority Namibian ownership.
  • The funds availed should go towards implementation of a business concept and not for research and development.
  • The business concept should be implemented in Namibia.
  • Beneficiaries will only qualify once for financing under the Innovation Fund.
Funding
  • The maximum amount available to a project under the Innovation Fund shall be N$ 50,000.
  • Beneficiaries shall be expected to repay the full capital advanced, but no interest or fees shall be charged on advances made through the Innovation Fund.
Security
  • Security requirements are relaxed in order to advance finance for groundbreaking ventures.
Repayment period
  • The maximum repayment period shall be three years.
Grace period
  • Determined on the basis of the project’s cash follow. The maximum grace period shall be 12 months.

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2010-09-05
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