Vodacom empowers SMEs in SA to thrive

Small and medium-sized enterprises (SMEs) play an important role in the South African economy by creating jobs and fostering company growth.

These companies, however, confront various hurdles that impede their growth and viability.

Some of the most major obstacles that SMEs encounter include access to capital, regulatory compliance, limited market access, skill shortages, and infrastructure limits.

Alternative finance, government assistance programmes, industry groups and networks, collaboration with educational institutions, and utilising technology and innovation may all help SMEs overcome these obstacles and grow.

This is why telecommunications giant, Vodacom launched its first-ever SME Summit, dubbed the #SME Thrive Summit.

On August 18, this free and influential meeting at Vodacom World Midrand gave vital tools, expertise, and networking opportunities to assist small companies prosper and contribute to the economy’s long-term growth.

The day was jam-packed with events designed to assist SMEs in growing their enterprises. It included a number of educational sessions, displays by local and non-local small company entrepreneurs, keynote lectures, live master classes, and panel discussions.

Mandisa Mpeko, Cheslin Denman, Brian Gadisi, and Palesa Mazibuko discussed funding and opportunities in the first panel discussion of the day, while Innocentia Motau and Nastassha Dook discussed networking and business growth in the second discussion of the day, among many others.

“It’s important to network intentionally and immerse yourself in people so that you can shape your product offering and value for them,” Motau recommended.

Expert speakers and industry experts offered their perspectives, experiences, and best practices in order to encourage and support SMEs in overcoming obstacles and grabbing opportunities.

Topics that were covered included access to finance, how to leverage digital marketing tools, tips on how businesses can protect themselves against cyber security threats, and more.

Not only did the attendees gain knowledge and skills, but two entrepreneurs also received a full-day business consultation with Vodacom SA CEO Sitho Mdlalose and other executives, as well as an R50 000 cash give to help them grow their businesses.

Keletso Lekwakwe, one of the cash winners, stated that the money, as well as the information he will gain from the experts, will be critical in establishing his company, Passwordkid.

As executive head of Vodacom SA’s small to medium-sized enterprises, Buhle Vilakazi expressed her thanks to the attendees and stated that SMEs remain critical to the economy.

“We recognise their vital contribution to fostering innovation, creating jobs, and spurring economic growth throughout the country. With the introduction of this summit, we are hoping to foster financial change and help SMEs grow their business, which will influence the country’s economic performance,” said Vilakazi.

“We’d like to call on small business owners to collaborate with Vodacom to co-create the solutions required to address their business challenges. Fuelled by our dedication to small business growth, an ever-evolving portfolio of financial services and digital solutions as well as a broad local and global reach, we are confident that we are the right partners to unlock their potential,” concluded Vilakazi.

Gifts and lessons at #SME Thrive Summit

Small to medium-sized enterprises (SMEs) generate employment and contribute to business growth.

Despite their pivotal role in South Africa, SMEs continue to face challenges preventing them from fulfilling their potential.

As a result, telecommunication giant, Vodacom recently held a successful first-ever Vodacom Business #SME Thrive Summit, which aims to empower SMEs to turn adversity into opportunities to succeed.

The event on August 18 at Vodacom World Midrand provided industry insights, live masterclasses with business experts, exhibitions of local enterprises and an important platform for networking.

Aside from the information and skills obtained, entrepreneurs were given prizes, with Keletso Lekwakwe receiving the largest of the day to help build his business.

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Small business owners urged to register for Vodacom’s #SME Thrive Summit