Announcement BizAP - DHI

In line with the mandate to "promote and encourage entrepreneurship and business development through venture capital and other required institutional support", DHI has been generally supporting Entrepreneurship through the DHI Business Acceleration Program (DHI BizAP). 

The ongoing COVID-19 situation has impacted economic activities in the country in various ways. The disruption and constraints also present opportunities for innovation and enterprise. DHI invites proposals from Entrepreneurs/Businesses seeking financing under the Cottage and Small Industry Category from the DHI Business Acceleration Fund. Selected Entrepreneurs/Businesses will be provided Financing is provided under the following terms;

1. Maximum Financing: Nu. 500,000
2. Collateral: No requirement
3. Administrative charges: 5% per annum
4. Repayment Term: Maximum of 5 Years

DHI encourages proposals especially targeted towards addressing the constraints posed by the present COVID situation. Shortlisted entrepreneurs will pitch their proposals to the DHI Business Acceleration Fund Panel to secure the funding. Please submit your application before the 30th June 2021 by 5 PM.

How to Apply?

1. Businesses must fall under the Cottage and Small Industry category (any business with less than total Nu.10 Million) to apply.
2. Business must have a valid Business License in applicant's name.
3. Download and fill the Application Form.
4. Submit the following required documents:

     a. DHI Business Acceleration Fund Application Form (Download) 

     b. Business Proposal (Annexure I)

     c. Copy of valid Citizenship Identity Card.

     d. Two professional recommendations/ customer testimonials (Annexure II)

     e. Copy of CV of the entrepreneur and team members.

     f. One recent Passport size photograph of the entrepreneur.

     g. Copy of valid business license

     h. Copy of recent CIB report (Consumer self-inquiry report and if you have a business submit Commercial Self- Inquiry report as well).         

     i. Valid online security clearance certificate.

     j. For entrepreneurs with existing businesses:

• Current account statement of the business for the past 2 years.
• A recent tax clearance certificate from the Department of Revenue and Customs.

 Annexure I: Business Proposal Template

Annexure II: Professional Recommendation or Customer Testimonial Template

5. Either email the filled application form with other supporting documents to dhibizap@dhi.bt OR submit it to Enterprise Development Unit, DHI during office hours.

Note:

Applicants are advised to read and ensure they fully understand all related instructions before completing the application form.

Applicants are to note that submission of incomplete documents may result in application not being processed.

For any Clarification: Please contact 336257/58 during office hours or email us at dhibizap@dhi.bt.

Annexure I: Business Proposal Template

1. Proposed name of the business
2. Business ownership and location
3. Business Description (What is your final product/service?)
4. Potential Benefits of the business
5. Market interest (market opportunities, target and strategy)
6. Market competition
7. Risks, barriers and mitigation plan
8. Number of employees and their role
9. Technology used in the business
10. Financial analysis to include:

a) Total investment cost (breakdown of how the investment will be utilized also to be shown)

b) Profit and loss statement for 5 years

• Past two years financial performance.
• Projections for next 3 years.

c) Sales pipeline (this indicates future sale prospects).

Annexure II: Professional Recommendation/Customer Testimonial Template

Professional Recommendation Template

1. Length: One page only
2. Format: To be written in the form of a formal letter.
3. Addressed to: DHI
4. Introduction: Explain your relationship with the entrepreneur for whom you are writing the letter. You may include how long you have known the entrepreneur and why you are writing the letter.
5. Body of the letter: Provide your personal view on the entrepreneur's specific skills, traits, achievement and abilities.
6. Letter Closing: Provide your details and contact information. (Name, Designation, Contact number and Email address)

Or,

Customer Testimonial Template

1. The customer testimonial shall:

• Provide authentic feedback/review on the entrepreneur's product or service/company.
• Be concise and direct.
• Include the customer's name, designation, contact number and email address. 

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