Train manufacturer Gibela has created a one-stop shop where budding entrepreneurs can access markets, professional counsel, and business mentoring and funding, all in one place.
This is part of an effort to grow the economy and increase the rate of youth employment in South Africa.
Gibela business incubator, Justine Mogashoa asked, “How can small, micro and medium enterprises (SMMEs) thrive and create jobs when they are not equipped with the resources to help build successful businesses?”
In response to her question and to address the growing rate of start-up failures, Gibela Rail Transport Consortium partnered with the Small Enterprise Development Agency (SEDA) to create the Gibela Business Incubator.
“We were compelled to create a platform that could help entrepreneurs get off the ground and we have set it up in a way that entrepreneurs can be assisted from a grassroots level.
“Sometimes we are approached by individuals who have good, viable business ideas but lack the resources to execute them. Other times, we deal with entrepreneurs with fully-fledged businesses that need help dotting the i’s and crossing the t’s,” said Mogashoa.
She added that the incubator was established in 2019 but started operating in 2020.
“We had a rough start because of the global pandemic, but I’m happy to say that despite the challenges, we currently have a total of 150 clients accessing our business development services daily.
“We have managed to incubate 66 ‘incubatees’ by the end of 2021/22 financial year and create 32 jobs across various industries in the past two years,” she added.
To achieve this, the Gibela Business Incubator made an effort to prioritise the growth of the entrepreneurs by training them on the fundamentals of running a business. They were also offering them accounting services and legal advice for incorporation and taxation issues, teaching them about ownership and employee option plan structures and providing management coaching and mentorship.
The training sessions are open to the general public at no cost.
Gibela gearing up to become the world’s fastest train-makers
