The Durban SBU incubator, just recently launched, is hosting an open day on 17 November for aspirant and existing entrepreneurs to gain an understanding of the services it provides. It will also holding a procurement workshop where the SMMEs will be able to hear first-hand, in a practical 'how-to' manner on understanding the procurement process and how to procure business through some of South Africa's giant companies.
Business Partners SME Toolkit is holding the 'SME Toolkit Young Entrepreneur Business Plan Competition Awards Evening' and has invited the SBU Johannesburg incubator as a co-sponsor. SBU will be donating a period of incubation for one of the selected businesses. Lumka Mhlahlo, regional manager, will give a 5-minute presentation on the services offered. It will also be represented at the South African Breweries panel at Gallagher Estate and participate in a roadshow organized by the Innovation Hub, which includes a visit to an FET College in Johannesburg.
Its Cape Town incubator's regional manager, Phindile Tshabangu, will focus on Entrepreneurship Skills and participate at the Cape Town's Entrepreneur Week 3-day exhibition at the City Hall. It will also host a satellite event on Wednesday 16 November at the Strand Tower Hotel in Strand Street, Cape Town. The focus of this workshop is on building sustainable businesses where three successful Cape Town entrepreneurs, Vinny Lingham, Noor Parker and KK Combi, will interact with the audience.
Papepae Malatji, enterprise development manager of the Pretoria incubator will be speaking at an NYDA event to be held on Wednesday 16 November on the benefits of business incubation.
There are currently four SBU incubators, in Cape Town, Johannesburg, Pretoria and Durban, and more than 50 SMME members are enrolled in the programme. The rationale to kick-start the project was based on South Africa's low level of entrepreneurship (35% of GDP compared with 60% in countries like India and Brazil), despite SMMEs comprising 97.50% of businesses in SA which are among the largest providers of formal and informal employment in the country.
"By and large, there are more success stories than setbacks. Provincial managers laud the benefits of the programme, which enables members to realise their dreams of becoming sustainable enterprises whilst addressing the low levels of employment in South Africa," says Mark Frankel, CEO of SBU.
"For a business to succeed, it is key that it is driven by an entrepreneur who has a clear, well researched niche market. Initiatives such as Global Entrepreneurship Week are imperative where thoughts, ideas and messages inspire would-be entrepreneurs to take the plunge and start their own businesses in an informed manner.
"Incubation is a first step towards success. We plan to raise R100 million and to have 10 centres nationwide in the next few years. The effects are tangible. This is a programme that is already making a difference in South Africa," he concludes.
