IN AN effort to grow the moribund start-up and small business sector in South Africa, the first operational venture capital fund incorporated under section 12J of the Income Tax Act begins to raise capital on Monday.
Venture capital funds have grown to become a successful multimillion-pound industry in the UK as high-income earners look to reduce their tax bills and a similar result is expected in South Africa. South Africa lost 440,000 small businesses in the five years to 2012, with start-up activity hitting a record low despite government ambitions to create millions of jobs.
To read the full, original article click on this link: New venture capital fund to give little guy a lift | Business | BDlive
