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In South Africa, small businesses contribute significantly to job creation and inclusive growth – especially in the local communities. Despite tough trading conditions, small businesses remain the backbone of the economy as they account for 60% of employment and contribute 34% to the gross domestic product (GDP). As financial experts who do good, Nedbank has long been on a journey to serve and support this critically important small-business sector in South Africa. We enable small-business owners to manage their businesses more effectively by offering them the right business account for the stage they are at.
Nedbank Small Business Services (SBS) has extensive experience in serving start-ups, small and growing, and established businesses with an annual turnover of up to R30 million. We offer tailored small-business banking accounts for each business owner’s unique needs. For example, our Startup Bundle is tailored for sole business owners with a turnover of less than R3 million a year. It offers zero monthly service fees for the first 6 months, as well as up to 20 free transactions, eNotes and more.
In fact, our support for small businesses goes beyond affordable banking solutions. We have been at the forefront of the development of banking products, relief programmes and innovations to alleviate the strain on microenterprises and small businesses.
- Our networking platform, SimplyBiz.co.za, which is free-to-join for all entrepreneurs, whether they are Nedbank clients or not.
- The Essential Guide for Small-business Owners, a valuable tool that offers expert discussions and helpful tips for start-up and small-business owners so they can learn more about what it takes to start and run a business.
As a bank that facilitates and fuels the entrepreneurial aspirations of all South Africans, we have been deliberate in identifying unserved and underserved non-metro areas across the country and in gaining a deep understanding of their specific business needs.
We realise that access to human relationships in the form of dedicated relationship bankers remains a critical resource in underserved communities for small-business owners who require practical help and guidance.
We are excited to announce that Nedbank will be expanding its small-business offering and introducing a new mobile SBS relationship manager in the Port Alfred, Grahamstown and surrounding areas to serve the needs of the local business owners. The new SBS relationship banker will fulfil a dual role of maintaining existing client relationships and driving client acquisitions. We invite all business owners in these local communities to grab this fantastic new offering and achieve their small-business financial aspirations.
We look forward to expanding our small-business offering in the Eastern Cape and providing a best-in-market relationship banking experience to business owners. As financial experts who do good, Nedbank remains committed to helping small businesses grow and thrive. In fact, we were recently recognised as the Best Bank for Small and Medium Enterprises in Africa at the Asian Banker Excellence in Retail Financial Services International Awards 2022. The award validates our leadership in the SME banking space thanks to our holistic approach, which includes flexible and affordable transactional-banking solutions, digital enablement and a comprehensive business support ecosystem.
Join the bank that’s best for your small business. To find out more about how Nedbank can help you do big things with your small business, please contact Athenkosi Boyana on 067 419 5557 or at athenkosib@nedbank.co.za.
This post and content is sponsored, written and produced by Nedbank.
