NEF committed to providing financial and non-financial support to black entrepreneurs
In 2009 the National Empowerment Fund (NEF) launched an online business plan tool that helped over 20 000 users to compile their business plans and financial projections, but the service provider has now disabled public access to this valued business-support solution.
By logging on to the NEF website, individuals and businesses of any size could create a business plan through an interactive step-by-step question and answer process. The business planner also included a financial projection feature which could be used to understand and manage all aspects of a business’ cashflow, including revenue and operating expenditure, capital expenditure and working capital as well as the financial obligations of the business. The tool was available in five languages, namely xiTsonga, seSotho, isiZulu, English and Afrikaans, and is written for business owners and managers who do not have a financial background. An easy ten-step process enabled users to create cash flow projections, income statements and balance sheets for up to a three-year period.