 What are the requirements for applying for a Raizcorp ARIZE bursary?
Do I have to be profitable to apply for a Raizcorp ARIZE bursary?
Can Raizcorp provide my company with finance?
Do my books need to be up-to-date in order to apply for a Raizcorp bursary?
Do I need a business plan to apply for a Raizcorp bursary?
Does Raizcorp belong to any governing body?
Do I have to have a minimum education level to be part of Raizcorp?
Has Raizcorp been successful?
How do I apply for a Raizcorp bursary?
What can I expect when I go for an interview?
Who sponsors the Raizcorp bursaries?
What are the requirements for applying for a Raizcorp bursary?
You must be the owner of a small business (minimum 51% black ownership) and be active in it;
You must already have been trading for at least three months;
Your business must have a turnover of no less than R10,000 a month ;
You must have a cell phone
You must have access to a computer and an e-mail address;
You must be responsible for your own transport;
You must be 18 years or older.
Do I have to be profitable to apply for a Raizcorp bursary?
No, profitability is not a requirement – you will probably want to join us in order to become profitable.
Can Raizcorp provide my company with finance?
No, ARIZE is not a Venture Capital Business and therefore does not provide capital.
Do my books need to be up-to-date in order to apply for a Raizcorp bursary?
No. Very often, small businesses don't have any decent record-keeping systems when they join. Provided you supply us with all your financial inventory, our accounts department will generate monthly management accounts for you.
Do I need a business plan to apply for a Raizcorp bursary?
No. Raizcorp believes in backing people, not businesses. A great business can dissolve very quickly with a bad entrepreneur, and a bad business can quickly succeed with a good entrepreneur. We will be looking at your entrepreneurial drive, not at the soundness of your business plan (which can be fixed later).
Does Raizcorp belong to any governing body?
Yes. Raizcorp is a member of SABTIA (South African Business and Technology Incubator Association). In fact, Raizcorp was on the founding board of this organisation.
Do I have to have a minimum education level to be part of Raizcorp?
No. Raizcorp supports entrepreneurs - no matter what their educational level. However, you do need basic computer skills. We have beneficiaries - who do not have a matric, and partners - who have PhDs and MBAs. It is the blue heart® of the entrepreneur that concerns us.
Has Raizcorp been successful?
ARIZE is a programme offered by Raizcorp, the only unfunded, for-profit incubator in Africa. Since 2002, we have had many success stories and have turned small one-man bands into multi-million rand businesses. It is important, however, to note that we have had failures as well. ARIZE is not a miracle cure – it is simply a well-designed support process for entrepreneurs who display a high potential for success.
How do I apply for an ARIZE bursary?
You complete an online application form – click here.
A Raizcorp Entrepreneurial Scout will then contact you.
What can I expect when I go for an interview?
At your first interview, you will meet with a Raizcorp Entrepreneurial Scout who will ask you questions about yourself and your business and explain the selection process. After that you will have to:
Write an online assessesment which assesses your entrepreneurial potential and drive (you will be charged a subsidised fee for this test);
Complete information documents about your business
Attend a second interview;
Present your business to our selection panel; and
Wait for Raizcorp's decision.
Who sponsors the Raizcorp ARIZE bursaries?
Sponsors of the Raizcorp ARIZE bursaries are companies that want to invest in enterprise development. Some companies recommend their own candidates for bursaries. Others ask Raizcorp to recommend beneficiaries for bursaries. Bursaries are awarded subject to the sponsorship that is available. Successful applicants may need to go onto a waiting list, until bursaries become available. Successful applicants should also be prepared to meet with, and report to, their sponsors.
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