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Chamber’s 7th phase of enterprise development programme kicks-off to develop future SMMEs

2020-07-27

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A group of 35 young businessmen and women kick-started their journey towards realising their goal of running successful businesses in the future when they recently attended a virtual induction of the enterprise development programme which is aimed at developing sustainable small, medium and micro enterprises (SMMEs) in Nelson Mandela Bay.

Chamber’s 7th phase of enterprise development programme kicks-off to develop future SMMEs

A group of 35 young businessmen and women kick-started their journey towards realising their goal of running successful businesses in the future when they recently attended a virtual induction of the enterprise development programme which is aimed at developing sustainable small, medium and micro enterprises (SMMEs) in Nelson Mandela Bay.

This year, a total of 23 candidates graduated from the programme and are now spread across the City implementing lessons they have learnt to develop their businesses.

The programme, which is now on its 7th phase, is run by the Nelson Mandela Bay Business Chamber (NMBBC) in partnership with the Eastern Cape Development Corporation(ECDC) and offers creative interventions to SMMEs through an effective combination of skills development, coaching and mentoring, and using lessons learnt from phase 1 to 6.

The combination of offerings on the enterprise development programme will empower the SMMEs to run financially sustainable enterprises to unlock socio-economic development, through structured multi-level training, mentoring and linkage support.

Some of the programme’s objectives include the:

  • Creation of Business-2-Business Platforms that aid SMME’s to be prepared for finance, sales and

market opportunities.

  • Increased awareness of SME’s on government procurement opportunities.
  • Utilisation of the Business Chamber networking and Business-2-Business platforms to promote their businesses.
  • Providing pipeline SMMEs for funding and support by ECDC.

The 7th phase will continue being structured around Nelson Mandela University Business School sessions which are mainly focused on soft skills training at the Business Chamber and mentorship based on International Labour Organisation’s Expand Your Business programme framework, as the kick-start solution to the various permutations of interventions. 

The EYB framework is a great tool for collating a baseline with key performance indicators while performing an independent assessment of the growth potential of entrepreneurs in development.  Facilitated by professionals, it forms the basis of a definition of the nature of future interventions with an entrepreneur and provides an independent review of key growth indicators. 

EYB has been implemented in Jordan, Sri Lanka, Uganda, Zambia, Zimbabwe and China. Results of the preliminary assessment conducted in Zambia, Zimbabwe and Sri Lanka. And six months after the programme started, evidence showed that 80% of the entrepreneurs realised growth based on developed indicators; 38% increased sales by more than 50%; 51% increased profits by more than 5% and on average each enterprise created 10 new jobs.

Jeannine Dickie from Hire Power who too part in the 6th phase said:

“The programme brought a contemporary entrepreneurial lessons and tools in order to improve processes within my business. It also empowered me in relation to product offering, both to clients and candidates. But more importantly, especially as a woman, to cement my place in the space I occupy.”

With the South African economy taking a knock from the novel COVID-19 pandemic, the success of these new candidates will go a long way in creating much-needed employment, which in turn will impact the local economy and help spur its growth.

 

Nomkhita Mona

Chief Executive Officer

 

 

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