SMALL and medium enterprises were described as the backbone of boosting the local economy at the Esayidi TVET incubator launch held last Thursday at the Oslo Beach campus.
Speaking at the launch, Esayidi TVET Rector, Dr Sipho Nzimande, said the incubator centre was created to ensure ambitions were turned to reality to provide a place where young people could gain new knowledge.
“The incubator launched here today will be a centre for assisting the youth in being better businessmen. Business incubators are important in making a difference by creating employment opportunities,” said Dr Nzimande.
He added that strong partnerships with entities such as the small enterprise development agency can help realise the vision of SMMEs. Through the incubator people will know what small businesses to find and where.
Ugu District Municipality manager DD Naidoo issued a stern warning to the youth who enter into business for hand-outs.
“If you want to base your business on what the government offers, then you are doomed to fail. We need businessmen that will stand alone and generate income without the assistance of government.”
Mr Naidoo added that the biggest mistake businessmen made was indulging in expensive luxuries rather than saving their profits.
A plaque unveiling ceremony took place and guests had a first-hand look at what the new incubator centre offers.
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