A mutually beneficial relationship is consolidating between Alexandra businesses and future international business leaders.
This through an experiential business skills training programme of final year students from the London Business School working with local small, micro and medium enterprises (SMMEs).
The programme is a partnership between the school and local tourism company, Khavho Travel and Tours, and small business development support agency, Reciprocity. The programme has been implemented only in Alex and Mumbai, India, and has been running for four years.
Sixty-eight students from the school were in the township recently to learn how the business environment in a developing country works, while also giving them the opportunity to mentor SMMEs on businesses management skills to enhance their sustainability, profitability and competitiveness. The beneficiaries included information communication technology and catering companies, and early childhood development centres.
Reciprocity’s Nico Bascarel said, as future business leaders, the students would better understand business and market issues in low-income environments.
Khavo’s Rachel Phasha said Alex was lucky to be part of the programme. “To qualify as a beneficiary, the SMMEs should have been in business for two years, kept records and have clear business objectives. The programme also helps to expose local youth to the tourism industry, which may be their business option,” Phasha said.
Beneficiaries, Lenny Tsepe, Bongiwe Nopote and Lerato Khasake said the programme had improved their attitudes and commitment towards their businesses. “We acquired professional skills in marketing, record keeping, the use of spreadsheets and how to manage credit. We now also understand the importance of having structured salaries and drawing them, provided we make a profit.
“We will also explore diversifying our businesses to other geographical areas, focus on single product services to improve concentration, and comply with regulations so that they could be included in the government’s database of service providers,” they said.
The school’s Tony Joyce said despite time constraints, the beneficiaries helped the students immensely. “Alex is an incredible place full of small businesses in a highly competitive and densely populated environment. This offered the students massive learning opportunities,” he concluded.
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