header entdev

New initiative to Focus on Youth and Women-Owned SMEs

"The Jobs Fund has partnered successfully with Black Umbrellas in the past, previously known as Shanduka Black Umbrellas, and has announced a new project that will focus predominantly on youth and women-owned SMEs

The Jobs Fund, a R9 billion fund established by the South African Government to facilitate sustainable employment amongst previously disadvantaged South Africans, youth and women, recently announced an innovative project with Black Umbrellas. This partnership will drive sustainable inclusion in South Africa’s small and medium enterprise (SME) sector by integrating skills development and practical business mentorship with an online application that will offer virtual support to a broader cohort of entrepreneurs."

Read more on BizCommunity

Another society would have been up in arms over unemployment, says expert

"According to Statistics South Africa, the country’s unemployment rate has risen to 27.6% at the end of the first quarter of the year, the highest level since the third quarter of 2017. There are now 6.2 million South Africans who are actively looking for a job but can’t find one. To unpack what the unemployment rate, Eusebius McKaiser chats to Institute for Economic Justice policy director Neil Coleman, economist Dr Thabi Leoka and Studies in Poverty and Inequality Institute director Isobel Frye."

Listen to the interview on Cape Talk

Samsung SA unveil plans to fund previously disadvantaged ICT entrepreneurs

"The company says its initiatives are set to strengthen black economic empowerment through enterprise development which will stimulate economic growth and boost job creation. Samsung SA’s focus is on women and youth in the Information and Communications Technology (ICT) sector and will drive the project through its Equity Equivalent Investment Programme (EEIP).

The programmes are reportedly aligned to the overarching objectives of the National Development Plan (NDP) Vision for 2030 and the Gauteng Township Economy Revitalisation Strategy."

Read more in The South African

Fem-in-Tech Development Programme to Empowers Female Startups

" The Small Enterprise Development Agency (SEDA) has collaborated with the SA Innovation Summit (SAIS), to empower female entrepreneurs with the skills and network to grow their businesses and increase their exposure to receive investment funding. The Fem-In-Tech Development Programme is open to South African start-ups in tech and tech-enabled sectors that have female representation as founders or top management. Fem-In-Tech aims to grow female entrepreneurship in South Africa and bridge the gap for women entrepreneurs in the investment market."

Read more on IOL.com

The role of enterprise development as driver of S.Africa's economy - CNBC Africa

The NDP states that about 90 per cent of jobs will be created through small and expanding companies by 2030. On this episode, CNBC AFRICA will hone in on enterprise development from its role in the South African economy to whether or not the country has the right regulatory framework in place to help drive this sector with Nomvula Makgotlho, chief director of the Ministry of Small Business Development, Roy Ross, chief executive of Business Banking Africa for Barclays Africa, Miriam Altman, National Planning Commissioner and Matsi Modise national executive director of the South African Black Entrepreneurs Forum. CNBC Africa, 2015

Boosting Township Economy for Post-Covid-19 Growth

'Getting township economies to boom in the post-Covid-19 trade environment would require the township based businesses that depended on foot traffic to become more digitally focused to access wider markets. Youth Employment Service (YES) chief executive Dr Tashmia Ismail Saville said that South Africa must make township entrepreneurs part of a new competitive mindset and model that harnessed every opportunity to re-invigorate the stagnant township economies.

“One such opportunity is the power of platforms in enabling small businesses to get a piece of the big action. A second is the weak rand exchange rate. But there is a third opportunity which has not been exploited, and that is the power of our story,” said Saville.'
 

Enterprise Development in South Africa - CNBC Africa

Only 2 percent of South Africa's population start businesses that survive the three year mark. Growth in these numbers is important, however, as it will benefit the economy by providing jobs thus reducing social grants issued by government. Interview on CNBC Africa, 2013.

Resilience and Creativity to Expand Amidst the Covid-19 Pandemic

'"Leaders become great not because of their power but because of their ability to empower others.” - John Maxwell

In an online interview with Anoty Africa’s co-owner, Mr Vhutshilo Nemutshili, he shared this wonderful quote by Maxwell speaking about leadership and the power of shared knowledge. As we follow his entrepreneurial journey we recognise his resilient efforts to rise above the current crisis and still come up with fresh ideas to do business. We also get to see how he leaned on other expertise to increase his own knowledge during this time as well as his ability to share skills with others, even creating new jobs within the online shopping industry.'

Read more on Bizcommunity

 

10 Ways to Invest in Enterprise Development

10 ways to spend Enterprise Development are:

  1. Provision of training or mentoring by suitably qualified entities or individuals to SMME’s which will assist the SMME’s to increase their operational or financial capacity; A Good example of this is How2Tender.com’s Enterprise Development package!
  2. Investments in beneficiary entities (SMME’s);
  3. Loans made to beneficiary entities;
  4. Guarantees given or security provided on behalf of beneficiaries;
  5. Direct costs incurred by a measured entity in assisting and hastening development of beneficiary entities;
  6. Contributions made to settling service costs relating to the operational or financial capacity or efficiency levels of beneficiary entities;
  7. Relaxed security requirements or absence of security requirements for beneficiary entities unable to provide security for loans;
  8. Settlement of accounts with beneficiary entities over a shorter period of time in relation to the measured entity's normal payment period, provided the shorter period is no longer than 15 days;
  9. Providing training or mentoring to beneficiary communities by a measured entity;
  10. Payments made by the measured entity to suitably qualified and experienced third parties to perform Enterprise Development on the measured entity's behalf.

Read More: http://www.sa-tenders.co.za/content/hints-tips-and-news/10-ways-do-enterprise-development

Source Details:

http://www.sa-tenders.co.za

Trialogue and Eskom partner to promote enterprise development

Enterprise development involves investing money and time in small enterprises, so that they can become sustainable and grow. It can help people to escape poverty and earn a living, and in the process contribute to economic growth in South Africa.
Corporate social investment consultancy Trialogue has accordingly launched an Enterprise Development topic on its Trialogue Knowledge Hub, which now spans nine topics addressing subjects ranging from financial literacy to school leadership. It brings together local and international research, examples of best-practice projects, news and opinions, and many more tools. 

Read more: Trialogue and Eskom partner to promote enterprise development

Skinny Sbu Socks get much-needed boost from SEDA

'Skinny Sbu received customised financial and non-financial support from Small Enterprise Development Agency (SEDA) for business growth and sustainability.

“Over the past seven years, I have taken a simple sock idea and turned it into a national brand loved by many. As a young person in South Africa, my vision of creating Africa's number-one sock brand is to create jobs for thousands of youth while building a sustainable business. Skinny Sbu has reached a point where it is now bigger than me and my pocket,” said Skinny Sbu Socks founder Sibusiso Ngwenya.
 
SEDA is an agency of the Department of Small Business Development which is on a mission to be the centre of excellence for small enterprise development in South Africa.'
 

Sasfin introduces digital banking platform for SMEs

Financial services firm Sasfin is the latest banker to add a small-and-medium sized enterprise-focused digital banking platform, which aims to help entrepreneurs to accelerate their businesses by making finance-related administration seamless.

A study by research firm Javelin Strategy & Research, titled 2018 Small Business Digital Banking & Payments Trends, states that access to viable mobile and digital banking technologies will also help boost financial inclusion of small to medium sized into any economy.

Read more in ITWeb

Entrepreneurship Report Reveals How Startups Can Drive Growth in a Disrupted World

"USB launches Global Entrepreneurship Monitor South Africa (GEM SA) report in partnership with GEM SA and Seda.

The economic and social upheaval caused by the COVID-19 pandemic underlines the need for a collective, and robust national strategy to unlock entrepreneurship in South Africa. Already before the pandemic, many aspects of the country’s entrepreneurial ecosystem needed a major overhaul. This is highlighted in the Global Entrepreneurship Monitor South Africa (GEM SA) 2019/2020 report.

The University of Stellenbosch Business School (USB), the Global Entrepreneurship Monitor (GEM) and the Small Enterprise Development Agency (Seda) launched the report on Monday, 8 June 2020.

GEM’s research output is considered the world’s most authoritative annual report on the global state of entrepreneurship. USB is the new custodian of this research in South Africa. The study included a survey sample of 3 300 people, and the national expert survey involved the input of 36 experts from diverse fields."

Read more in this article by University of Stellenbosch Business School

ENTREPRENEURSHIP IS ON THE AGENDA AGAIN: More hype or real action?

If entrepreneurship is really to be reinvented in South Africa it needs to be part of a larger paradigm shift at the level of the market economy. This includes:

  • A robust and interactive entrepreneurship ecosystem that offers equal access to opportunities, development tools and comprehensive access to resources.
  • A functioning ecosystem that connects everything, from suppliers, distribution channels, universities, to venture capital.
  • Improving access to entrepreneurial finance and market access for small businesses to ensure there is a level playing field for opportunities.
  • Long-term investments need to be made in developing entrepreneurial capital, which is a function of individuals with a high quotient of human and social capital.  

Small businesses are not simply just smaller versions of big business; instead they are vulnerable as they are small and new and consequently need a supportive environment and a mix of responsive policy interventions.

Read more in BBG Online

Women's Entrepreneurship Development (WED) Programme

"The Women’s Entrepreneurship Development programme of the International Labour Organization (ILO-WED) works to empower budding and existing women entrepreneurs who want to start, run and grow their business and to create conducive conditions for inclusive, resilient and sustainable economies. It does so by addressing gendered imbalances in enterprise development in order to scale women entrepreneurs’ contributions to growth and sustainable development and to enable their meaningful participation in entrepreneurship ecosystems."

Read more in the article by International Labour Organization

Eskom Foundation pays visit to business competition finalists

The Eskom Development Foundation visited three Port Elizabeth-based small and medium enterprises at the end of March, to see how the businesses have been performing since participating in the 2017 Eskom Business Investment competition (BIC).

Ductile Plastics and Extruders, LBN Hygiene Solutions and Lungisupreme Brands SA all featured and were finalists in the competition.

Read more in News24

Sanlam ESD Programme Committed to Helping SMEs Succeed

"Small Medium Enterprises (SMEs) operating on the African continent face several challenges that threaten their growth and sustainability. These include limited access to markets, informality, financial inadequacies, and a lack of vital business skills in planning, financial management, marketing, and operations.

In response, diversified Pan-African financial services group, Sanlam together with the Association for Savings and Investment South Africa (ASISA) Enterprise and Supplier Development Initiative have developed a programme to help entrepreneurs gain access to markets, funding, and skills. Sanlam’s support for entrepreneurship is driven through the Sanlam Enterprise Supplier Development programme (ESD), which offers a tailored solution for business owners that caters exclusively to their needs.

Started several years ago, the group’s ESD programme has been advocating and supporting the acceleration of the growth of small and medium businesses in their supply chain."

Read more on Social-TV

EU supports South Africa to boost job creation, small business development and improved governance with €62 million

The new EU programme 'Employment Promotion through small, micro and medium enterprises Support Programme for South Africa', worth €52 million, will help to boost job creation in South Africa by supporting the country's National Development Plan 2030, which foresees that 90% of new jobs in the country should come from small and emerging business by 2030. Implemented by the South African Department for Small Business Development, the new programme will help reduce the cost of doing business for small enterprises, improve business, production and marketing skills, increase access to funding by de-risking enterprise development lending and keeping the interest rate at reasonable levels.

Read more in the European Commission Press Release

[Watch] Absa, Experian and Township Fleva join forces to drive financial inclusion

"Joining forces, Experian South Africa, Absa and Township Fleva, on Thursday launched project Spana, an annual programme developed to provide small business loans to local entrepreneurs in Gauteng townships. Small, medium and micro-sized enterprises (SMMEs) are the ‘unseen sector’ of the South African economy and the challenges facing these businesses are evident, according to a 2018 report by the World Bank Group’s International Finance Corporation (IFC). 

The IFC report estimates that the total size of South Africa’s SMME market, including formal and informal enterprises, is 5.78 million of which only 14 percent are formalised. The SMME sector only grew in population by 15 percent between 2008 and 2017 according to the World Bank report, which is a reflection of the low survival rate, and almost stagnant growth rate of these entrepreneurs within this sector."

Read more on IOL

Eskom commits to business development with SME competition

As part of Eskom’s corporate social investment programme, the Eskom Development Foundation, through the BIC, is

encouraging and rewarding entrepreneurship by providing a platform for small and medium enterprises (SMEs) to conquer the next major barrier in business development.

The BIC is an annual entrepreneurship competition by Eskom. Black-owned small and medium enterprises in the agriculture and agro processing, construction and engineering, manufacturing and trade and services sectors that have been in operation for at least 24 months are granted entry into the competition.

Read more in IOL Business Report

Focus on Enterprise Development with Zandile Njamela, Accenture Global

 

"Enterprise development has been growing in South Africa since entrepreneurs have been called on to come up with more innovative ideas. Our business development programs effective? As part of entrepreneur month, we focus on this subject that seeks to celebrate young entrepreneurs for their efforts in developing business, contributing to GDP growth and creating those much-needed jobs."

Amazon to Incubate Black Entrepreneurs as Part of R365m Equity Equivalent Initiative

"Amazon Web Services, the cloud computing subsidiary of global technology giant Amazon, announced on Monday that it would launch a R365m investment in black-owned cloud computing businesses in South Africa through an equity equivalent investment programme.

The equity equivalent programme is an initiative of the Department of Trade and Industry aimed at allowing multinational companies to take part in the development of local black-owned small businesses and contribute towards the broad-based black economic empowerment of South Africa."

Read more on News24

Bay SMEs graduate from enterprise programme

FIFTEEN small businesses, drawn from across the Nelson Mandela Metro, recently graduated from a six-month Eastern Cape Development Corporation (ECDC)/Nelson Mandela Bay Business Chamber (NMBBC) enterprise development programme which has attracted R1,052 million in funding from the ECDC in the last four phases.

Besides receiving a certificate during the graduation ceremony, graduates will receive a year’s free membership of the Nelson Mandela Bay Business Chamber.

Read more in News24

Study: Average Salary in SA is R6,400 & it's Not Enough to Live On

"While unemployment in South Africa was at an alarmingly high rate at 27.6%, some employed South Africans faced many challenges including earning salaries that weren't enough to get by on, despite being part of those fortunate enough to have a job. According to a new study by automated recruitment platform, Giraffe, 29% of working people earned less than the national minimum wage of R3,500 a month. For those earning above the minimum wage, the average salary was R6,400, which was not quite enough to get by on a monthly basis."

Read more on EWN

 

Youth Entrepreneurship and Leadership

The latest matric pass rate for 2017 is around 75%, meaning that at least a quarter of all leaners who wrote their matric exams in December 2017 cannot be admitted to further their studies at any of the mainstream further education institutions, that is, TVETs, Colleges, Universities of Technology and universities. That is despite the fact that these institutions can only admit a limited number of students for formal academic programmes due to limited capacity and resources. Thus, further painting a gloomy picture regarding the future of young people in the country. Entrepreneurship and leadership are some of the key areas that our country needs to focus a lot more on. A career in entrepreneurship should not be seen as a career of last resort when everything else has failed.

Read more in News24

6.2 million South Africans are actively looking for a job but can’t find one

"The rate of unemployment in South Africa rose to 27.6% at the end of the first quarter (Q1) of the year. It’s the worst figure since Q3/2017, a nearly 15-year high. About 237 000 fewer people had jobs in Q1/2019 compared to Q4/2018. There are now 6.2 million South Africans who are actively looking for a job but can’t find one.

The Money Show’s Bruce Whitfield interviewed Kevin Lings, Chief Economist at Stanlib Asset Management."

Listen the the interview on Cape Talk

THE KNOWLEDGE HUB IS A logo INITIATIVE. (C) 2017-2020.