The Slow Fund was launched by obsessive entrepreneur Nic Haralambous “to help other people, entrepreneurs, founders, side-hustlers and business owners realise that you can build things of value slowly, patiently and consistently”.
For South Africans wanting to build a legitimate side hustle, every day - for 365 days - the Slow Fund is giving away R1,000 together with a 30-minute coaching call. The aim is to give both financial and coaching support to South Africans who want to join the slow hustle revolution that has already seen more than 50 entrepreneurs benefit since it launched mid-February 2021. Other partners that have joined the Slow Fund include Yoco, offering a Yoco Go machine to every successful applicant and Bridgement.co.za
offering a R20,000 loan to one successful applicant per quarter for the next year.
South Africans who would like to apply for the Slow Fund can now also use the SMMEstart small business recovery resource on WhatsApp to apply by sending the word ‘slowfund’ in WhatsApp to +27 600 110 110. From there they will be prompted through the automated application process.
Applicants can also read up on how to choose a side-hustle, how to identify customers, how to understand their competition, how to create an online presence and how to reach customers as well as tap into many different side hustle ideas.
“I’m incredibly excited to partner with SMMEstart to make it even easier to apply to the Slow Fund. As more people apply we gain more traction, start more businesses and pave the road to financial independence for more people,” said Haralabous.
Small business owners can also instantly access the menu of additional business recovery resources that have been especially created for SMMEs in South Africa and available on the free chat service. How to apply for the slowfund on SMMEstart:
- Save the SMMEstart number to your contacts on your phone +27 600 110 110
- Give it a name i.e. SMMEstart
- WhatsApp the word ‘slowfund’ to the number to access information about the fund
- WhatsApp the word ‘apply’ to the number to apply for the R1,000-a-day fund for your side hustle
SMMEstart is a chat-based business recovery service on WhatsApp providing micro-, small- and medium-sized businesses and entrepreneurs in South Africa with free, actionable information, guidance and resources to restart and grow in the Covid-19 recovery period – and beyond.
The service provides up-to-date, credible content and resources on finance, marketing, legal, tax, business and health, the latest news and inspirational stories, free business resources and a helpdesk.
SMMEstart is a live service that will be updated and added to weekly. It is built using Turn.io technology, the Praekelt.org-incubated cloud-based application that integrates directly with the WhatsApp Business API to enable organisations to engage efficiently at scale with AI assistance.
SMMEstart has been developed in South Africa by Praekelt.org in partnership with Arifu and Jozihub and with funding support from Google.org.
All SMMEstart content and resources are free but the usual user WhatsApp data charges will apply.