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Ithala development Finance Corporation Limited (“Ithala”), KwaZulu-Natal’s Provincial development agency, boasts a rich history of 60 years of development and empowerment among the historically disadvantaged communities of KwaZulu-Natal. As a development finance institution with an established history of empowerment, Ithala is well-placed to provide financial and supportive services to communities in KwaZulu-Natal.  In delivering its development mandate, Ithala continues to find development and empowerment solutions to address the needs of the historically marginalised people of the province.  Ithala Group engages in a wide range of activities including funding of SMMEs and Co-Operatives; provision of entrepreneurial support and skills development aimed at creating meaningful Broad-Based Black Economic Empowerment; provision of commercial and industrial property development and management; provision of transactional services such as savings, lending, insurance and banking services; as well as  provision of funding for infrastructural projects.

Why is Ithala partnering with the IFE Franchise Expo?

As a development finance institute, our primary focus is the development and empowerment of PDI’s through our tailormade funding solutions promoting entrepreneurship and stimulating job creation in the province.

Franchising offers aspiring business owners a standardised proven business practice with access to certain centralised services such as supply chain, marketing, training, financial support and value of the trade-name or trademark. This form of business has a proven track record, mitigating many risks associated with starting a new business.

Franchising is highly favourable to funders as most of the business and financial risks are minimised provided the entrepreneur adheres to the stipulated business practice standards. It is a great way to get the much-needed exposure in entrepreneurship especially the youth who have challenges with getting access to business or funding opportunities.  This would increase the economic activity in the province providing much- needed business opportunities for SMME’s and Co-operatives who are hungry for opportunities.

 

Ithala is a funding solution, can you tell us what you have to offer visitors at the Franchise Expo seeking funding solutions?

As a development finance institution, our role is to empower end develop our SMME’s through our extensive business loan products. Ithala will have a stand available throughout the Franchise Expo to answer any and all queries to funding available to businesses wishing to start or expand. Our funding solutions offer highly competitive lending rates to ease the financial burdens of our SMME’s. We therefore hope to engage with those in attendance and provide them with critical insight on funding available to take their businesses to the next level

As a development finance institute our primary focus is the development and empowerment of PDI’s through our tailor-made funding solutions promoting entrepreneurship and stimulating job creation in the province.

Franchising offers aspiring business owners a standardised proven business practice with access to certain centralised services such as supply chain, marketing, training, financial support and value of the trade-name or trademark. This form of business has a proven track record, mitigating many risks associated with starting a new business.

Franchising is highly favourable to funders as most of the business and financial risks are minimised provided the entrepreneur adheres to the stipulated business practice standards. It is a great why to get the much needed exposure in entrepreneurship especially the youth who have challenges with getting access to business or funding opportunities, and increase the economic activity in the province through providing much needed business opportunities for SMME’s and Co-operatives who are hungry for opportunities.

What opportunities does Ithala see for visitors who visit the IFE Franchise Expo?

There are opportunities for the people of KwaZulu-Natal to get in-depth exposure into the franchising industry. We aim to link people with business opportunities to either grow their existing businesses into franchises, become suppliers to some of the franchisors who will be attending and get an opportunity to own a franchise. The critical success factor for Ithala are the linkages that will be created and converting those into real business opportunities. We also want to expose in particular SMME’s and Co-operatives into the world of franchising (the ins and out, what to do and not to do), so that they can start preparing themselves for the various opportunities available. We intend on making this an annual event, which will keep growing year on year, making a significant contribution in growing our SMME’s in the province.

 

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