Industrial Development Corporation (IDC) - Clothing and Textiles

The IDC's Strategic Business Unit (SBU) for clothing and textiles offers support to a variety of businesses across the sector, ranging from creators of home decor to leather goods producers, to manufacturers of natural or synthetic fabrics. 

The aim of this programme is:

• To build a locally and regionally competitive industry through strategic partnerships that promote entrepreneurship and social and industrial development.
  
• Expand and extend existing industries in order to create and/or preserve jobs and drive sustainable economic growth.
  
• Enable the local clothing and textiles industry to achieve its potential and become globally competitive.

The IDC will give preference to projects that fit into any of the areas listed below:

• Clothing manufacturing. 
• Dyeing, printing and finishing of fabrics.
  
• Footwear manufacturing.
• Household textiles production.
• Leather tanning and leather production manufacturing. 
  
• Natural fibre production, including wool and mohair beneficiation.
  
• Non-woven textile.
• Synthetic fibre production.
• The spinning of yarns, knitting and weaving of products.

They also look for manufacturers who wish to expand and/or modernise their production capacity, manufacturers in distress due to global economic trading conditions, as well as entrepreneurs wanting to start a small to a medium-sized manufacturing facility.

Every business is considered on its own merit but the IDC gives preference to funding proposals that require:

• Financing fixed assets and the fixed portion of the growth in working capital requirements.
  
• Supporting projects and/or businesses that have a high developmental impact such as rural development, empowerment, job creation, township development and value addition.
  
• Supplying distress funding for troubled companies that have a clear turnaround plan.

Eligibility criteria

Your company must be compliant with international environmental standards as well as being compliant with the relevant bargaining council regulations, and you will be expected to make a sizable contribution to the financial requirements.  

In general, the expected own contribution is:

• 35% of total assets for profitable businesses.
  
• 45% - 50% for startups. However if you can show that your businesses will have a significant impact on job creation, the IDC may be prepared to lower this percentage.

Application process

• Draw up a well-researched business plan, stating a compelling case for funding. To assist you with your application please read IDC's minimum requirements and their business plan guidelines.
• Register online.
• Upload your application.

Should you be unable to submit your application electronically, applications can also be submitted at your nearest IDC office.