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Business Investment Competition

Overview | Prizes | Sectors | Application

Overview

The Business Investment Competition encourages and rewards entrepreneurship by providing a platform for small and medium enterprises (SMEs) to cross the next major hurdle in business development.

Black-owned small or medium enterprises in the agriculture, manufacturing or trade and services sectors that have been in operation for at least 24 months are eligible to enter.

Business Investment Competition Toolkit

Prizes

Altogether there is R1.3 million worth of prizes up for grabs for winners and runners-up, as well as finalists to improve their businesses. The overall winner takes away R150 000 worth of prizes. Winners in each category receive R100 000 worth of prizes each; the first runners-up in each of the categories receive R50 000 worth of prizes while the second runners-up in each sector receives R25 000. All other finalists each receive R5 000 to improve their businesses.

Sectors

Agriculture

The BIC adjudicators are looking for agricultural candidates, who show not only perseverance and bravery by starting their own businesses, but also a keen understanding of farming systems and the agricultural environment. If you have been operating in the agricultural sector for at least two years and are a registered business enter and you could win.

Manufacturing

If you operate a business in the manufacturing sector and have shown determination and dedication to build a sustainable business in your community why not enter the Business Investment Competition? The adjudicator’s are looking for outstanding companies that run efficient and effective manufacturing companies that produce high quality goods that cater to the consumer or industrial markets.

Trade

The BIC adjudicators are always on the lookout for successful South African companies operating in the trade sector. If you have a firm grasp on the South African trade landscape and have built a robust business enter the Business Investment Competition and you could win R100 000 to take your business to the next level.

Services

Operating successfully in the services sector is a challenging task and the BIC adjudicators are on the hunt for small black-owned businesses that are providing quality services to the South African market. If service is your forte then enter the Business Investment Competition and you could walk away with R100 000 in prizes to take your business to the next level

Application and adjudication process

Applicants are able to submit an online application or fill out an entry form and submit it by email. This is followed by two rounds of adjudication to select the winners and runners-up.

First round adjudication: Following the submission of all entries our panel of adjudicators review the businesses entered and draw up a short list of successful entrants.

Second round adjudication: All short listed businesses are invited to Johannesburg to make a presentation to a panel of adjudicators about their business and showcase why they are deserving of the prize. At this second round of adjudication all applicants are interviewed by a team of writers.

Awards: All finalists are invited to Johannesburg where the overall winner and category winners are announced, after which they all exhibit as part of their prizes, at the annual Business Entrepreneurship and Franchise Expo.

Business Entrepreneurship and Franchise Expo: Following the BIC Awards all finalists remain in Johannesburg for 5 days to attend and exhibit at the Business Entrepreneurship and Franchise Expo as well as attended several business training workshops.

To enter online visit: www.eskombic.co.za or enter by email or fax: Call Nqobile Dlamini on 011 544 1900 or email bic@groundedmedia.co.za

Entries for the competition opens in April

Who may enter?

  • Registered, South African, black-owned small or medium enterprises that:
    • Have been in operation for 24 months or longer
    • Operate in any of the nine provinces, and
    • Operate within one of the following sectors:
      • Agricultural
      • Manufacturing
      • Trade
      • Services
What documents are needed?
  • 3 Year Business Plan from current year
  • 3 YearMarketing Plan from current year
  • Copy of business registration certificate
  • Copy of partnership / joint venture agreement (if applicable)
  • Copy of latest audited financial statements, if (Pty) (if applicable)
  • Copy of VAT certificate (if applicable)
  • Copy of SARS tax clearance certificate
  • Copy of employee tax registration certificate
  • Copy of UIF registration certificate (if applicable)
  • Copy of COID registration (if applicable)
  • Copy of identity documnet/s of owner/s
  • Copy of latest bank statement, and
  • Map and/or directions to business premises, even if business operating from home/GPS coordinates
  • Marketing material/photographic