FNB MasterUp SME development programme calls for applications

Heather Lowe, head of SME development at FNB | image supplied

"This 10-month business development programme is specifically designed for small to medium enterprise owners, with the primary aim of helping accelerate business growth and successfully increasing investment potential," FNB described the programme in a press statement.

Heather Lowe, head of SME development at FNB, said:

"We strive to provide contextual and relevant support to SMEs in the economy across business stages and sizes. We do not adopt a one-size-fits-all approach to business development support.

"The programme is designed to address unique, contextual business needs, and to provide a customised growth strategy for each participant, supported by appropriate content, mentorship, and masterclasses.

"Participation in the programme also enables access to our bespoke funding offerings designed to address funding needs not traditionally filled within the funding landscape."

Programme structure

The key programme objectives are focused on driving:

• Funding readiness – assistance in the compilation of effective business plans, financial projections and pitch assets to improve business investability, and enable access to growth finance to support growth.
• Growth acceleration – assistance in enhancing operational efficiencies and fostering innovation, whilst boosting business valuation.
• Operational and business support systems transformation – utilisation of tech-enabled systems to cut costs, improve efficiency and increase customer satisfaction.

The blended programme approach will encompass the following key interventions:

• Enterprise diagnostics and benchmarking reports to ascertain business strengths, weaknesses, and gaps.
• Online modular learning customised to address gaps in each business.
• Virtual masterclasses covering an array of business-related topics, aimed at strengthening your business and fostering connections with fellow business owners.
• Investability screening report and virtual funding readiness sessions.
• Provision of specialist support, including accounting services and website development assistance.
• Ongoing monthly mentorship to support online modular learning.
• Specialist mentorship within areas of need.

To qualify for this opportunity, you need to be a business leader in any business sector running a business with the following minimum qualifying criteria:

• Turnover between R10m and R50m.
• At least 51% black ownership in accordance with broad-based Black economic empowerment definitions.
• A business-to-business operating model.
• High growth potential.
• Tax compliant and,
• Not a participant in another business development programme.

There is only space for 60 qualifying SMEs to participate in this development program for a period of 10 months. Applications can be submitted at www.red3-sixty.com/fnbmasterup and click on 'Apply Now'.

Applications will close on 31 October 2023. Once applications have closed, the vetting and selection process will take two months, and accepted businesses will be informed in December 2023.