The Nelson Mandela Chamber of Commerce’s Entrepreneurship Desk has grown exponentially since its launch in April last year and has now surpassed the 200 mark of qualifying small, medium and micro enterprises (SMMEs) that have been registered.
The Desk currently has 220 registered businesses of which 51% are women-owned and 65% black-owned, and have a combined annual turnover of over R200 million between them, employing over 1000 people. The group has already gained much-needed business knowledge and skills, advisory support and networking opportunities through their participation in this platform.
Sponsored by Borbet SA and Standard Bank, the Desk acts as a single platform where business support, growth and sustainability initiatives are housed. This support, growth and sustainability, is achieved through four pillars namely access to funding and professional banking advice, access to entrepreneurial and business skills development, access to one on one advisory support, and market access opportunities.
“Small businesses remain the backbone of the economy through innovation, problem solving, job creation, contribution to the GDP, imports and exports, and local economic development.
Through the Entrepreneurship Desk pro bono interventions, we have managed to support a cohort of sustainable and growing SMMEs who have received advisory support, skills enhancement, business-to-business linkages, and have been connected to various opportunities.
While we had targeted to support 200 small businesses by December 2023, we have surpassed that target and are well on our way towards 300 SMMEs registered with the Desk. This is a testimony to the importance of the desk and its related interventions,” says Lunga Mjodo, Chamber’s Business Intelligence Manager.
The Desk is an important tool that connects SMMEs with various opportunities, from procurement and supply chain, to various funding opportunities, organisational capacitation through establishment of internal systems and controls, entrepreneurial skills training, facilitation of partnership and networking engagements, to masterclasses and workshops.
As part of the Desk’s services, the Chamber has included Enterprise Development, access to funding opportunities, access to markets, advisory support/help desk, access to business intelligence, tender documentation support, mentoring programme, access to skills development and training, webinars and topics of interest to SMMEs and exposure linkages.
The SMME sector forms the backbone of the South African economy and plays a significant role in job creation as well as economic growth. As such, the World Bank estimates that this industry accounts for 90% of the all businesses globally and 50% of employment.
In South Africa, which is currently beset by record unemployment of 32,9%, stagnating growth, and flip-flopping economic policy, the SMME sector is nothing short of essential to the country’s future growth trajectory. They currently contribute an estimated 34% to South Africa’s Gross Domestic Product (GDP) and continue to play a significant role in the economy as drivers for reducing employment. Job creation is most likely to come from the SMME sector, as large manufacturers are not creating the scale of jobs they used to generate.
The country’s unemployment is among the highest in the world and according to the Quarterly labour Force Survey, this in an increase of 0,2% compared to the fourth quarter in 2022.
“For the remainder of 2023 leading to 2024 and beyond, we will mobilise Chamber medium to large sized members to continue supporting our SMMEs, while we add more innovative interventions designed to grow and unlock the potential of SMMEs in NMB. As such, we would like to thank our various pro bono service providers and supporters as we could not have achieved this milestone without their support.”
From left to Right: Nicole Coetzee (Sprout Chefs), Carmen Davis (Ndivuka and Django Skills Development), Pumeza Kate (Ilinge Labafazi), Brenda Moduka (Atlega For Women Projects Enterprise) and Xola Speelman (Konvenient Media Hub).
Alan Straton
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