J&B Hive helps entrepreneurs take their business to the next level

Successful business development, entrepreneurial support and innovation are the cornerstones of leading global economies, such as China, Britain and America.

Yet a fundamental question remains: why, then, does South Africa lag behind when we have an undeniable hub of talented and creative business minds?

And, furthermore, what constitutes the ongoing exponential growth of some countries, while others remain in a permanent state of regression?

Local investment group Citadel, says South Africa was ranked 82 out of 190 countries in the June 2017 World Bank Group ease of doing business index. However, if we consider that, just 10 years ago – in 2008, we were ranked at number 32, we can see how far and how swiftly we have fallen.

Montso Solutions. Picture; Emmanuel Croset

Citadel says much work lies ahead to remedy this and advises that making it simpler for potential new investors in South Africa to start ventures, register properties, enforce contracts etc, will improve our rating.

This is why initiatives such as the J&B Hive are important. It is both a catalyst for creative entrepreneurs wishing to accelerate their business endeavours and a space facilitating creative collaboration between upcoming business minds and well-established industry leaders.

J&B Whisky senior brand manager Nana Akua Twerefoo said during a panel discussion on Wednesday: “Over the past five years the Hive has worked hard to create a space for budding creative entrepreneurs, so that we provide them with an opportunity to accelerate their businesses from the early phase into the mainstream economy.”

Among the many success stories coming out of the Hive is Montso Solutions, a virtual reality production company offering 360 video and animated advertising options to various brands.

Speaking to The Citizen, Montso Solutions’ business development director Bonang Nkiti said: “We joined the Hive in 2017. After an initial phase of pitches, we were also awarded seed funding to help get our first round of Virtual Reality (VR) equipment and helped a great deal in attaining new clients.”

Montso Solutions founder Itumeleng Montso and business development director Bonang Nkiti. Picture: Emmanuel Croset

The VR company currently manages a diverse client portfolio that includes reputable brands such as Eagle Air, Future Space and Dynasty Property Group.

“The Hive provides training and advice on various business aspects and has helped us a lot in business administrative practices, as well as refining our approach to gaining new clients and tailoring our service offering to the clients’ needs,” said Nkiti.

The space is a great enabler for collaborations to take place and this is ultimately key to the country gaining a firm economic footing to eventually be ranked among some of the global leaders.

For more information on how creative entrepreneurs can benefit from the J&B Hive’s services, visit www.thehivejohannesburg. com.

Applications for the recruitment of new businesses into the J&B Hive are open until October 11.

For more news your way, download The Citizen’s app for iOS and Android.