THE eThekwini Municipality is encouraging co-operatives in eThekwini that have innovative and economically viable ideas to participate in the 2023 Lions’ Den Business Plan Competition. Participants will stand a chance to benefit from exciting business-development prizes to the value of R500K. This includes providing business equipment, training, and mentorship.
Applications for the competition are open until March 24 to allow enough time for businesses to enter.
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The competition categories are as follows:
– Emerging businesses with a viable business idea with a turnover of less than R100K per annum.
– Established businesses in need of venture expansion with a turnover of more than R100K but below R500K per annum.
– Businesses that have demonstrated entrepreneurship excellence with a turnover of more than R500K per annum.
The purpose of the competition is to stimulate good business ideas and encourage sustainable entrepreneurship, innovation and competitiveness among entrepreneurs.
eThekwini mayor Councillor Mxolisi Kaunda said supporting small, medium and micro enterprises (SMMEs) continues to be important to the municipality.
“As we strengthen local enterprises, it is a win for the local economy, which translates into more jobs created. We have various programmes spearheaded by municipal units aimed at enterprise development. This particular programme has proved to have a positive impact on SMMEs as past beneficiaries have grown exponentially. The programme is led by the Business Support, Tourism, Markets and Agri-Business Unit which is mandated to provide a support function to SMMEs to enable a conducive environment.”
Liat Madinane is the founder of Sika Creative Agency which provides marketing services. She was one of last year’s winners and said she will forever be grateful for the assistance provided by the Lions’ Den competition. “The equipment in the form of laptops we received helped the business become more productive,” said Madinane.
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Application forms are available at Sizakala Centres and from the Business Support, Tourism, Markets and Agri-Business Unit offices based on the 7th Floor, Embassy Building, 199 Anton Lembede Street (or from the security desk on the ground floor entrance). They are also available at the SEDA eThekwini office at 127 Johannes Nkosi Street.
Interested businesses can also request an application form by emailing: mbuyiselwa.ngobese@durban.gov.za or yolanda.fenele@durban.gov.za.
For more information, call 031 309 8280 or 031 311 4500.
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