Financial Services Company news South Africa

Bank on us to crowdfund small business

Standard Bank has established a partner page on the crowdfunding platform Thundafund to assist small businesses that continue to try and get back on their feet post the civil unrest in Kwazulu-Natal and Gauteng in July, amidst already being disadvantaged due to the impact of the Covid-19 pandemic.
Bank on us to crowdfund small business

The events in July placed significant strain on small businesses located in both the KZN and Gauteng province. Impacted businesses that were uninsured or under-uninsured have found it unlikely to fully recover. “The protracted and slow process of reconstruction, and once again building up stock to meet consumer demands, particularly for micro- and small-enterprises, is often overlooked and unsupported,” says Jenine Zachar, head of enterprise and direct banking.

Standard Bank has partnered with crowdfunding platform Thundafund to help businesses recover, rebuild and restart their operations. Business Recover, Rebuild and Restart is a crowdfunding initiative that will enable small enterprises to set up campaigns on the Thundafund platform to raise funds that will go a long way in helping them replace or repair their assets, compensate for lost revenue, or get back to business.

Donors will be able to visit the Standard Bank partner page at Thundafund, select a campaign they want to support and make their donation via the platform.

“There are many reasons to uphold the belief that South Africa is in the process of recovery. As Standard Bank, we are in full support of remarkable initiatives such as these as it encourages South African citizens to give back to our own. We are hopeful that the ongoing rebuilding of the business sector will continue to present opportunities for businesses, and, in turn, contribute to uplifting surrounding communities. Let’s spare a thought, and a few rands, this December, to help these businesses get back in the game and build towards this,” adds Jenine.

Link to the ThundaFund Standard Bank partner page here.

Let's do Biz