FAQ

Frequently Asked Questions

1. 1. HOW DO I BECOME A SEDA CLIENT?

A: You must register at a branch nearest to you, where you will meet a staff and they will assist you through the registration process.

A:  You can register online on E-services, then visit your nearest branch with the obtained online reference number, Seda staff will assist you further.

2. I HAVE A BUSINESS IDEA - WHERE DO I GO FROM HERE?

A: Before you start working on the detailed planning of your idea, you need to do a quick viability study. This will help you with the following:

• The first thing that you need to do is to narrow down your idea into something workable. Chances are that you are thinking big at this stage. Perhaps you even have two or three ideas. But your chances of success will be much better if you focus on something manageable and realistic. Above all, do not attempt to start more than one venture at the same time.

• Coming up with an idea is probably the easiest part of becoming a business owner. Turning it into a business is much more difficult. Although some innovative ideas can give you an advantage in the short term, a successful business owner is not necessarily the one with the best idea, but one who can successfully execute a viable idea. A viability study will force you to investigate what you need to make an idea work.

• It is easy to become emotionally attached to your idea, to the extent that you refuse to accept that it is not working. The same passion that sets you off on a path of hard work and high risks, that keeps you going until you reach success, is the one that can blind you to the fact that you have made a mistake. A good business owner needs to know when it is time to withdraw from an idea and move on to the next. A viability study can help you do this before you have invested a lot of time and energy and money in an idea.

• If you are thinking about copying someone else's idea then you also need to do a viability study. Just because it works for them does not mean it is going to work for you. There is nothing wrong with copying someone else's idea - most businesses start that way. But it is not necessarily viable to start exactly the same business in exactly the same area as an existing business. There might not be enough people to support your business as well as the existing one. The viability study will help you decide how you need to change the existing business to make it workable and whether the same idea can work in a different area.

3. I DON'T HAVE A BUSINESS IDEA, WHAT BUSINESS SHOULD I START?

A: Choosing the kind of business that will work for you takes a lot of thought, as there are a number of important factors to consider. To ensure that the business is viable, you need to find product or service with a market that you can develop. In other words, you need to be selling something that people want or be providing a service that people need. But to be competitive in your business, you also need to have the necessary skills. The business should also suit your personality, otherwise you will soon lose enthusiasm for the venture.

4. WHERE DO I GO TO REGISTER MY BUSINESS?

A: You may go to Companies and Intellectual Property Commission (CIPC) to register your business www.cipc.co.za

5. WHY DO I NEED A BUSINESS PLAN?

A: A business plan is the firm’s résumé and lists its goals and objectives. Develop a business plan as much for yourself as for the partners, investors, and bankers involved with the business.

The business plan identifies the product or service, the market, the management team, where the business will operate, and your business experience. Parts of the plan include a market study, promotional strategies, current and projected balance sheets, income statements, and cash flow analyses. It outlines how, when, and where financial support will be obtained, and how to repay any loans made to the business. The plan provides general operating information, along with information about where the business is now, where it has been, and where it is going.

Business plans have three distinct uses: (1) feasibility and marketing plans; (2) operating (procedural) plans for financial needs, production schedules, and marketing goals; and (3) tools to secure loans or outside capital. In addition to SBA and SCORE, many other resources are available to business owners for developing business plans, such as software programs, professional workshops, and training

6. HOW DO I COMPILE A BUSINESS PLAN?

A: Refer to Business Plan Tool link on the E-service portal

7. I NEED FINANCIAL ASSISTANCE / SUPPORT FOR MY BUSINESS, WHERE SHOULD I START?

A: a provides non- financial business support services, however you may visit a Seda branch nearest to you, whe Seda staff will refer you to institutions that offer financial support service in accordance to their rules.

A: You may also go to the Access to Finance link on the E-service portal for institutions that offer financial support.

8. HOW DO I MARKET MY PRODUCT/SERVICE?

A: Sales do not just happen. Sales happen because of marketing. Businesses use market research to identify their customers and what it is that they want to buy. Marketing involves six issues, which are defined as:

• Product or service: what are you producing and what benefits does it offer?

• Production: how is your product/service produced, at what rate, and what raw materials and time are used?

• Price: at what price can the product or service be sold?

• Promotion: how will potential customers know about the product or service?

• Place: where is the business located and what distribution channels will be used?

• Perception (or brand image): how should the customer see the business and the product or service provided?

9. WHAT SECTORS DOES SEDA SUPPORT?

A:

10. HOW CAN I PARTICIPATE IN SEDA’S TRAININGS?

A: Please go to the nearest a branch for more information.

11. HOW DO I APPLY FOR SEDA TECHNOLOGY TRANSFER FUNDING?

A: Clients needs to work with their nearest Seda branches or Seda-supportedcubators nationwide in obtaining and submitting TTF application forms and accompanying documents.

The Technology Transfer Fund (TTF) of the a Technology Programme annually opens a window of opportunity for small enterprises to start the application process for assistance in growing their business through the funding of technology.

Please use this link http://www.seda.co.za/MyBusiness/STP/Pages/TT.aspx for more information regarding Technology transfer funding requirements and criteria.

12. HOW DOES SEDA ASSIST CLIENTS IN RURAL AREAS?

A: Seda has Cooperatives and Commuy Public Private Partnership (Coops & CPPP) e. The Programme supports non-traditional enterprise organisational forms with a special focus on rural areas and use of local resources.

13. DO I HAVE TO REGISTER EVERY TIME I WANT TO ACCESS SEDA E-SERVICES?

A: You will only be required to register once.