Nedbank makes small business goals attainable
Starting a business is a daunting experience, with a constant reminder that most businesses fail within the first two years, due to, amongst other reasons; lack of support in terms of skills training and limited access finance.
To address some of the challenges faced by the small medium enterprise (SME) sector, Nedbank Small Business Services offers a holistic approach to support small owners during this critical start-up phase.
Support takes the form of a unique offer for businesses and franchises younger than 24 months with a projected turnover of R7,5 million per annum. This offer not only provides support by means of business registration, free financial training for franchise clients and mentorship, but free banking for two years. What this translates to is a saving in terms of transactional fees which frees up much needed capital, thus improving cash flow - an imperative source of business sustenance in the start-up phase.
The proposition includes free transactional banking on the following most common items:
- Free unlimited cash deposits
- Free unlimited cheques from own chequebook
- Free unlimited debit orders
- Free unlimited Internet banking transactions
The savings attained will depend on the type of business and the transactional volumes it generates.
Nedbank Small Business Services focuses on understanding the needs of the SME sector and responding by providing access to finance, affordable banking and practical added value services based on these requirements.
‘We are also cognisant of the fact that as a bank, we do not necessarily offer an end-to-end solution to optimally assist small businesses, hence we partner with experts in the field to provide support networks,’ says Sibongiseni Ngundze, Managing Executive of Nedbank Small Business Services.
Some of these partnerships include mentorship with Business Partners, Khula Enterprises, business registration with SwiftReg and expert hosts at the popular Free Business Management seminars.
