Entries for the Business Plan Competition close on 30 August. Picture: iStock
Some start their entrepreneurship journey with the purpose to lead, make more money or because of unemployment.
The Global Entrepreneurship Monitor report reveals that many South Africans have resorted to starting their own businesses in response to unemployment.
David Morobe, executive general manager of impact investing at Business Partners Limited, said the 2021/2022 report shows unemployment was used as motive to start a business, as the number grew from 84.7% in 2021 to 89.5% in 2022.
Thus they and various stakeholders continue to run the small and medium-sized enterprise (SME) toolkit competition, which is also known as the Business Plan Competition.
Winners will get access to the tools and training needed to explore the feasibility of their business ideas.
“Platforms that promote entrepreneurship can play a pivotal role in changing lives and livelihoods. This in turn, ties in with the United Nations’ Sustainable Development Goals,” said Morobe.
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Morobe said the competition enters its 15th year running. The competition also showcases the country’s entrepreneurial talent.
“Entrepreneurship holds the key to addressing several economic, social and educational aspects of sustainable development.”
He emphasised that SMEs are important because they make a visible contribution towards alleviating poverty through job creation, innovation and social empowerment. Throughout the years, the competition has given entries a way to develop their skillset and acquire the fundamental knowledge to turn their dreams into reality.
Entries from all members of the society are welcome, as this can help address social inequalities.
“Some members of society have previously been overlooked. People from marginalised communities, youth and women.”
He said aspiring business owners between the ages of 18 and 35 are welcome to enter and participate in the 2024 SME Toolkit Business Plan competition.
“The competition will kick off with a series of in-person and online training sessions and culminate in a competition which will require entrants to submit a business plan for their chosen idea.”
Entries close on 30 August.
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