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R100 Million in capital for SMEs to get South Africa working

Article provided by Profitshare Partners

Johannesburg, 1 June 2020 – Today, ProfitShare Partners launches an exciting year-long initiative designed to get small businesses working and creating jobs. In partnership with award-winning local community radio station, Hot 91.9FM, and the all-new ‘getlion’ mobile app designed to support SMEs in managing and growing their businesses, the disruptive Fintech provider will invest R100 million in capital to support SMEs to deliver on their contracts this year. The sweetener is a prize of R1 million for the small business that has created the most net jobs during the period of the campaign from 1 June 2020 to 31 May 2021.

The Get South Africa Working campaign is an initiative that was introduced by ProfitShare Partners’ founder and CEO, Andrew Maren to help small and medium-sized businesses create jobs and to keep them going, and this has become even more relevant now during these challenging times.

“This is an initiative to help boost our economy by accelerating SME business growth and development. With our high unemployment rate and the steep rise in job losses over the past few months, we want to encourage entrepreneurship and assist small business owners in need of capital to start or get going. Unfortunately, many of these businesses do not have the financials, security or track record and are turned away by the banks. How do you develop this track record or get a set of financials if you cannot access capital? Our model is to provide this capital to get them going so they can get a track record, cash in the bank and ultimately, financials so that they can graduate to getting capital from traditional funders such as banks,” says Maren.

SMEs and entrepreneurs have the power to change the status quo, especially in challenging times. Starting today, 1 June 2020, the Get South Africa Working initiative will be providing up to R10 million in capital to SMEs per month to grow by partnering with them on their contracts or valid purchase orders that they have or are trying to get with large corporates and certain Government Departments.

To enter, SMEs and entrepreneurs must download the ‘getlion’ mobile app, available for iOS and Android devices, to track their business performance and apply for capital support via the ProfitShare Partners website. Full details are also available on the Get SA Working website. “The getlion app is a purpose-built platform of services, tools and resources from various industry-leading companies, all in the interest of helping small businesses

Profitshare Partners is a proud Partner of the NSBC