Help for struggling businesses

Grant scheme aims to help SME’s in need

04 September 2020 | Business

Gerlinde Sauer; German Embassy; “We are happy to extend the targeted support for start-ups and young SMEs…”

Small and medium enterprises (SMEs) especially are feeling the economic brunt of the Covid-19 pandemic with many being forced to close their doors in the face of unfavourable economic circumstances.

With the country remaining in Stage 3 lockdown, the pressure on businesses is extended – evident in the number of closures and retrenchments.

To mitigate this situation, StartUp Namibia announced a second round of providing assistance via their Covid-19 start-up grant. The first round assisted 200 SMEs, while the next round aims to provide 500 Namibian start-ups with a N$15 000 cash injection.

However, recipients from the first round do not qualify for the next #StartUpSurvivalGrant.

“Looking at the massive impact Covid-19 has had on the private sector, we are very happy to extend the targeted support for start-ups and young SMEs,” says Gerlinde Sauer, the counsellor for development cooperation at the German embassy in Namibia. “Additional funding for this project is provided by the German Federal Ministry of Economic Cooperation and Development.”

She expressed the hope that innovative entrepreneurs, especially women, will be able to continue their businesses with this support, laying the basis for their growth to make an impact for a sustainable and inclusive economic recovery of Namibia.

Female-led or female founded start-ups, SMEs in the Erongo region and tourism and hospitality businesses are encouraged to apply.

Applicant businesses must be younger than 5-years and have a business bank account registered in their name.

The following must be submitted along with the application:
Founding statement from BIPA;
MSME certificate will be an advantage’
Bank statements for June-August 2020 of business bank account; and
Business continuity plan to detail the use of funds and strategies to save jobs.

Applications can be submitted online at www.startupnam.org.

Applications are open until 16 September, after which an independent committee comprised of StartUp Namibia stakeholders will assess the applications received.
Beneficiaries will receive the grant in a single payment at the beginning of October 2020.

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