FINANCIAL SOLUTIONS
SAFI members can explore a range of financial assistance opportunities tailored to support and empower businesses within the furniture industry. From funding opportunities to financial advisory services, this section provides valuable resources to help members navigate financial challenges, access capital for growth initiatives, and optimise their financial management strategies.
FURNITURE INDUSTRY CHALLENGE FUND (FICF) - IDC
Industrial Development Corporation (IDC)
The FICF is available to qualifying furniture manufacturers in the following sub-sectors:
- Case Goods
- Kitchen and built-in cupboards
- Mattresses and bedding
- Office furniture
- School furniture
- Upholstered furniture
The purpose of the fund is to assist qualifying furniture manufacturers to:
- Improve their competitiveness.
- Survive the current economic downturn.
- Increase localisation of production activities within the value chain.
- Promote economic inclusion to support equitable economic growth, and
- Maintain and increase current employment.
Funding can be applied to:
- Capital equipment
> Increase capacity.
> Modernisation of plant.
> Upgrade to meet quality requirements.
- Working capital
Process and system improvements
> Efficiency and productivity optimisations.
> Industry quality certification and standards.
> Environmental standard adherence.
For further details of the fund email Thabo Moloi at thabom@idc.co.za