The Nelson Mandela Bay Business Chamber and Standard Bank have extended their partnership for the Entrepreneurship Desk.
The entrepreneurship accelerator project was launched in 2022 and has already assisted 250 micro, small and medium enterprises (MSMEs) which are registered with the desk.
They receive tailored support to sustain their businesses for further growth and job creation.
According to the chamber, the businesses are 65% black-owned, 52% female-owned, and employ 1,507 employees, with a combined annual turnover of more than R338m.
Lunga Mjodo, the chamber's business information manager, said they were extremely delighted that anchor tenant Standard Bank remained committed to supporting the Entrepreneurship Desk, which he labelled as a landmark intervention providing support for businesses in the city.
“This is pivotal as MSMEs have a significant role to play in SA.”
He further highlighted that the challenges MSMEs faced were well-documented and these included a high failure rate among new enterprises, restricted access to finance and a skills deficit.
“These inefficiencies and challenges prohibit these MSMEs from taking their rightful place by addressing high unemployment, the widening poverty gap, high crime levels and an economy that is growing slower than the required pace.
“Therefore, developing and supporting MSMEs cannot be overstated,” Mjodo said.
Standard Bank’s executive head for business clients coverage in the Eastern Cape, Leigh-Anne De Witt, said there was an increasing need to inform and empower business owners with information that would enable and grow their businesses.
“The programme is aimed at addressing key challenges faced by small businesses in areas of management, compliance and information on how to access funding as well as other financial solutions to ensure business sustainability,” she said.
“The workshops expose the entrepreneurs to our wealth management specialists who elaborate on topics such as succession planning, investment management as well as risk management.
“MSME’s can also look forward to a free financial needs analysis including information on our business solar loan offering, Thinkubate mentorship programme and enterprise development solutions.”
Brenda Moduka, managing director of Atlega for Women Projects Enterprise which is registered with the desk, said her company had joined the Entrepreneurship Desk in July 2022.
“It’s one of the best decisions I have taken to date to affect the growth of my company,” she said.
“Through the desk, we have had access to the Thinkubate programme, received assistance with our IR compliance and also restructured the company’s strategy and expanded our clientele in the process.
“We also moved from a 200m² space to 500m² space through linkages secured through the chamber.”
HeraldLIVE
Nelson Mandela Bay Business Chamber and Standard Bank extend partnership
Image: SUPPLIED
The Nelson Mandela Bay Business Chamber and Standard Bank have extended their partnership for the Entrepreneurship Desk.
The entrepreneurship accelerator project was launched in 2022 and has already assisted 250 micro, small and medium enterprises (MSMEs) which are registered with the desk.
They receive tailored support to sustain their businesses for further growth and job creation.
According to the chamber, the businesses are 65% black-owned, 52% female-owned, and employ 1,507 employees, with a combined annual turnover of more than R338m.
Lunga Mjodo, the chamber's business information manager, said they were extremely delighted that anchor tenant Standard Bank remained committed to supporting the Entrepreneurship Desk, which he labelled as a landmark intervention providing support for businesses in the city.
“This is pivotal as MSMEs have a significant role to play in SA.”
He further highlighted that the challenges MSMEs faced were well-documented and these included a high failure rate among new enterprises, restricted access to finance and a skills deficit.
“These inefficiencies and challenges prohibit these MSMEs from taking their rightful place by addressing high unemployment, the widening poverty gap, high crime levels and an economy that is growing slower than the required pace.
“Therefore, developing and supporting MSMEs cannot be overstated,” Mjodo said.
Standard Bank’s executive head for business clients coverage in the Eastern Cape, Leigh-Anne De Witt, said there was an increasing need to inform and empower business owners with information that would enable and grow their businesses.
“The programme is aimed at addressing key challenges faced by small businesses in areas of management, compliance and information on how to access funding as well as other financial solutions to ensure business sustainability,” she said.
“The workshops expose the entrepreneurs to our wealth management specialists who elaborate on topics such as succession planning, investment management as well as risk management.
“MSME’s can also look forward to a free financial needs analysis including information on our business solar loan offering, Thinkubate mentorship programme and enterprise development solutions.”
Brenda Moduka, managing director of Atlega for Women Projects Enterprise which is registered with the desk, said her company had joined the Entrepreneurship Desk in July 2022.
“It’s one of the best decisions I have taken to date to affect the growth of my company,” she said.
“Through the desk, we have had access to the Thinkubate programme, received assistance with our IR compliance and also restructured the company’s strategy and expanded our clientele in the process.
“We also moved from a 200m² space to 500m² space through linkages secured through the chamber.”
HeraldLIVE
Would you like to comment on this article?
Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Trending Now
Latest Videos