Everything you need to know about "SAve A Business"

Updated: Sep 8

Saveabusiness is a platform that works simply and fully transparently in collaboration with citizens to save small South African business that have been hardest affected by COVID-19. The raised funds will be purposed to avoid layoffs; non-payment of workers and expenses that would impede continuation when South Africa returns to business as usual.

Donations over R1000 can choose to receive a tax exemption certificate as the initiative operates with NGO status.

There will be multiple donation phases. 10 qualifying and deserving SME’s per phase will be selected. Each fundraising phase will run for 5 days consecutively.

AT the end of each 5 day fundraising phase, the total donation pot for that phase will be evenly distributed to the 10 companies. Raised funds will be shown in real-time.

To date the fund has raised R905 552.00 and a goal of R1 000 000.00

The public has two options:

1. Donate directly to the listed business of your choice

2. Donate to the SAveabusiness COVID-19 Relief Fund to be evenly distributed at the end of each phase.

The public may nominate a business of their choice. Small businesses may also apply to qualify for acceptance on the following link https://www.saveabusiness.co.za/small-business-applications/.

Qualification Criteria:

· Business must have an established track record for a minimum of four years whereby their core operations (majority revenue generation) has remained unchanged.

· Business must have generated a minimum of R300 000.00 (three hundred thousand Rand) in revenue for each of the prior four financial years leading up to the COVID-19 outbreak in South Africa – March 2016 – February 2020.

· A minimum of 3 permanent staff members are employed by the business.

· Recent three-month bank statement must also be sent through.

· All businesses must indicate what they will use the funds for, and they must sign to confirm understanding and agreement with T’s & C’s.

© 2018 AIF Business Consulting.