Growing the economy, one SME at a time
The SAB Foundation Tholoana Enterprise Programme is looking for entrepreneurs who are passionate and dedicated to growing the economy and creating jobs
WITH a shrinking economy and unemployment at an 11-year high, it is critical for local small, medium and micro enterprises to step in and provide the fuel we need to fire up growth and create jobs in South Africa.
Statistics show that as many as 80 percent of small businesses fail within their first five years.
“South Africa is full of young, inspired, and passionate entrepreneurs who are working tirelessly to change the path the country is on. We have found that through the provision of funding as well as business training and mentorship, we can improve the success rate of businesses to over 75 percent,” said Bridgit Evans, SAB Foundation director.
The SAB Foundation does this through a number of business development programmes, including its flagship Tholoana Enterprise Programme, which is open for applications until September 26.
The structured 18-month programme invests in entrepreneurs, particularly women, youth, people in rural areas and persons with disabilities. It offers entrepreneurs skilled mentorship, business development tools and training, powerful peer networks, access to finance and support throughout their time on the programme.
So far, the SAB Foundation has provided over R35-million in grant funding and business support to 168 entrepreneurs in Gauteng. This has helped them grow their collective turnover from R51-m at inception to over R132-m in 2018, and allowed them to employ a total of 623 people, of which 408 are new jobs.
With funding and business support, WhyCook, a catering business based in Gauteng, increased its turnover from R100 000 to R3.5-m. It now caters for high-profile clients, including Absa, eTV, Giorgio Armani and L’Oréal South Africa.
“What sets the Tholoana Enterprise Programme apart from others is that the entrepreneurs are not just another number, they are individuals, and there is a personal touch throughout the programme,” said Evans.
To find out more or apply to the SAB Foundation Tholoana Enterprise Programme, visit https://sabfoundation.co.za/tholoana-enterprise-programme
