Enterprise development: WHY AND HOW TO INVEST

WHY AND HOW TO INVEST

Understand the context of ENTERPRISE DEVELOPMENT

In South Africa, the Broad-Based Black Economic Empowerment codes of good practice support and promote small businesses, and corporates are required to invest at least 3% of Net Profit After Tax  towards the development of transformed businesses. Enterprise development (ED) is one of the priority elements of the Broad-Based Black Economic Empowerment (B-BBEE) Scorecard, along with supplier development (SD). ED contributions can be financial or non-financial – for example, corporates could assist entrepreneurs with training and mentorship, legal support, HR support, customer management, counselling, and assistance with a business strategy. 

Potential models of intervention

Small to medium enterprises (SMEs) are powerful tools to create jobs and lift people out of poverty. Investing in enterprise development in South Africa helps to stimulate the growth of black-owned SMEs and draw them into the broader economy, usually through supply chains. There are numerous ways to assist small businesses, including training and mentorship, providing access to markets, funding social programmes, and helping companies to promote their goods and services. 

Where to from here?
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