The fund was established by Edge Growth in 2011 to provide medium-sized corporates and other businesses with a reliable vehicle for their Enterprise and Supplier Development contributions; one that maximises the socio-economic impact of their contributions through responsible investment and ensures that companies remain compliant with the requirements of the revised Codes.
The Edge Action Fund Trust is a pooled fund that combines the contributions of all investors in the form of either ring-fenced or non-ring-fenced agreements.
Growth funding of up to R1 million is channeled into high-potential SME beneficiaries who receive on-going non-financial growth support post-investment to ensure that they remain on a path towards sustainable growth and the long-term success of business operations.
Straight to Your Door was established in 2010 to deliver fresh bread to households in Alexandra township. Without his own vehicle, Chris travelled on foot or used public transport to distribute to his customers and his capacity was severely limited to what he could carry.
Edge Action financed the purchase of a delivery vehicle.
The business has expanded to include Tembisa and Rosebank and now also delivers cold meats, sandwich fillers and airtime to households, spazas and schools. Additionally, Straight to Your Door supplies fresh bread and fruit to the Lunch Box Fund, a non-profit organisation that provides a daily meal to disadvantaged students. Revenue has since increased by 102%, and profits by 94%. Five new jobs have been created and operations continue to help other businesses in the community that would otherwise be unable to sustain their trade independently.