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At The Business Place we are constantly broadening our understanding of the SMME environment and developing new strategies to adapt to the changing needs of entrepreneurs. Some new initiatives that have been adopted recently or are being developed are:
The Business Place has formulated a strategy to link our clients directly to business opportunities within key industries. This programme enables The Business Place to form strategic partnerships with leading private and public sector companies that are interested in supporting small business.
The Business Place clients can also access support and information in procurement processes and requirements to enable them to place themselves in strategic positions to secure contracts.
Anglo Zimele (AZ) is a micro-funding company within Anglo American Corporation. They have selected The Business Place Philippi and The Business Place eQonce as their pilot branches in which they will place "financing desks" to offer loans to approved small businesses at 6%. The micro-loan facility offers loans from R20,000 to R1 million to small businesses. In terms of this relationship, each branch will have a full-time loan officer, employed by AZ, stationed within the branch. If the partnership is successful at the two pilot sites then it is possible that other branches will enjoy the presence of a micro-loan facility too.