SMMENEWS 8 Land of Opportunity February 2018 INVESTEC youth entrepreneurship programme INVESTEC supports the growth of young South African entrepreneurs by providing global exposure and support initiatives, in order to grow the South African economy and create employment opportunities. Investec wants to grow the South African economy and society. To achieve this they focus on two key areas, education and entrepreneurship. Their Global Young Entrepreneurs’ Programme provides a platform that exposes South African entrepreneurs to global business thinking. Exposure trips abroad Every year Investec, in partnership with En-novate, sends a group of young entrepreneurs from various sectors to specifically selected countries in order to gain global exposure. Each itinerary provides them with opportunities to network and to engage with venture capitalists, funders and captains of industry. The aim is for entrepreneurs to return back home not only stimulated and inspired, but also with a list of potential partners, funders and markets for their product or service. Upcoming trips in 2018 Israel Target: Social entrepreneurs 1 – 8 March 2018 Berlin Target: Textile Manufacturing 20- 27 April 2018 Singapore Target: Financial Services 13 - 20 July 2018 Helsinki Target: Education 12 - 19 October 2018 Programme objectives at a glance 1. Grow entrepreneurial networks by creating business contacts between South African entrepreneurs and their international counterparts. 2. Facilitate access to people of inspiration and industry-specific knowledge. 3. Showcase social and for-profit entrepreneurship approaches which provide insights into how businesses can be a force for good in society. 4. Expose how technology and new methods of thinking can be applied to improve business. 5. Showcase the best of South African entrepreneurs and initiate engagement with potential investors, companies and other stakeholders. Interested? Check if you qualify: South African citizen or permanent resident under the age of 40. attended a previous Investec trip within the past 12 months. entrepreneur/owner of the business and not an employee. entrepreneur. based, for-profit business from the sector in which the trip is focused. least six months and not in the ‘idea’ phase. R50m per year. For enquiries contact: shaun. firstname.lastname@example.org Enterprise development programmes for enterpreneurs JUNIOR Achievement South Africa Enterprise Development Programme Junior Achievement South Africa is a unique intensive incubator style entrepreneurship skills programme. The aim of this project is to address the unemployment challenge amongst the youth. This programme provides practical entrepreneurial skills and traditional workplace readiness skills. This will solve the challenge the youth face when entering the job market with insufficient experience. The programme consists of 20 four hour sessions which runs for three to four months. The students are expected to start running a real business, with the intention that the businesses are sustained after the programme is completed. Who should apply? This programme is targeted at young adults between the ages of 18 and 25, who are not in school and are currently unemployed. Participants are chosen based on: entrepreneurial activity skills development. To contact Junior Achievement South Africa The Women’s Enterprise Development Initiative This is a niche private equity and Technical Assistance Programme that creates superior returns for investors by investing in women entrepreneurs. This fund supports wealth and job creation, while providing support to women in developing countries, helping them to build viable and sustainable enterprises. Who should apply? Dynamic women with a record of achievement in businesses? that support women To contact Women’s Enterprise Development Initiative Standard Bank Enterprise Development Programme Standard Bank is offering a specialised Enterprise Development programme. The aim of this programme is to offer financing solutions to primarily BEE businesses that have achieved access to superior earning opportunities from corporates or the public sector. Who qualifies? ownership become more BEE viable. How to apply Standard Bank has a different approach to enterprise development programmes. A business will select or choose a supplier and then contact Standard Bank, the bank will then offer the supplier financial assistance, which will enable them to meet their obligation to fulfil the contract. For more information 5980 co.za First National Bank – Vumela Enterprise Development Fund This initiative was developed in 2010 and has already invested R186 million into alternative SME financing tools. The aim of this programme is to unlock explosive growth in SME businesses and for creating optimal conditions within these businesses to help them to achieve success. Who qualifies? “Our solution will help corporates meet the new B-BBEE requirements which could see some companies downgraded if they do not empower their supplier base. More importantly, the holistic nature of our model could yield a sustainable economic growth model among the participating companies,” says Head of Enterprise Development at FNB, Heather Lowe. This programme also targets highimpact SME’s and is open to all industries. How to apply Fill in the application form which is readily available and send it in to FNB or Vumela. To find out more For more information on the Vumela Enterprise Development fund, please email Heather.Lowe@fnb.co.za or JGoldberg@edgegrowth.com. Nedbank Enterprise Development Programme This programme offers you growing business flexible financial solutions along with business strategy mentorship programmes. By joining this programme you get access to a number of resources, including: you to purchase fixed assets, maintain your inventory and meet your ongoing operating needs your businesses industry and cash flow cycle will take place through seminars and accredited institutes business expertise you to meet like-minded entrepreneurs in your area. How to apply and find out more Apply through the Nedbank website or contact them directly: Absa – Enterprise Development Fund Absa host a R250 million Enterprise Development fund, which finances SMME’s in the value chains of these corporates or government entities. This Enterprise Development Programme will also involve corporates and government entities that are interested, allowing them to meet their ESD obligations. Who qualifies? (SME). This includes start-ups and existing businesses. from normal banking channels permanently in South Africa operations relevant to your business historical financials or a realistic cash flow forecast account is held with Absa, no split banking is allowed R3 million with a maximum loan term of five years the finance application resides in the province where your SME resides. How to apply Complete an application form and bring it in to your nearest Absa branch, along with the supporting documentation listed on the last page of the form. The Royal Fields and Job Funds’ Enterprise Development Programmes Royal Fields Finance is a financial services group that focus on funding small and medium enterprises; in partnership with the Jobs Fund they have launched an enterprise development program worth R 100 million to support SME’s. Who qualifies? This programme focuses on SME’s that are unable to raise funding from banks or traditional funding institutions, due to a lack of trading history, security and risk capital. The target of this programme is small and medium sized enterprises, that have an annual turnover of less than R60 million and that require funding between R 70 000 and R2,5 million. The following sectors will be emphasised for this programme as they have been identified as high growth businesses: How to apply? You will need to complete a telephonic interview, face-to-face interview, credit assessment, compilation of credit reports. Your application will then be considered by the Credit Committee and an onsite due diligence is conducted to assess your business. For more information Please contact Royal Fields Finance at: Siyakhula Enterprise Development Programme Total South Africa launched the Siyakhula programme, which is part of Total’s commitment to transformation through the development of black entrepreneurs and enterprises. Total South Africa CEO and Managing Director, Mr. Christian des Closières explains: “Although enterprise development has been a component of Total South Africa’s transformation strategy for some 60 years, it is time for the company to put more effort and resources into our enterprise development projects, start consolidating on the remarkable gains, and expand our enterprise development footprint into one consolidated programme, Siyakhula.” Who qualifies? This enterprise development programme focuses on three specific sectors, namely: enterprise development How to apply To find out more send your enquiry or application to: customerservice@ totalcustomercare.co.za. The Small Enterprise Development Agency (SEDA) The Small Enterprise Development Agency is an agency affiliated to the Department of Small Business Development. The mandate is to implement a standard and common national delivery network for small enterprise developments as well as integrate government-funded small enterprise support agencies across all tiers of government. For more information 703
February 2018SMMENEWS 9 Franchising opportunities SMME Staff Reporter STARTING a business from scratch and trying to build its base to make it as reputable as it can possibly be is a very hard thing to do. It is due to this reason that some people resort to buying franchises and utilize their business management skills to make a known entity thrive while also raking in a reasonable amount of profit. Franchising continues to grow as more and more big corporations look to invade all corners of the country and beyond. If you are looking to buy a franchise, here are a few household name franchises which are ranked among the low costing franchises in South Africa. The information provided here is from whichfranchise.co.za. The Bed Shop: The Bed Shop is South Africa’s largest independent bed retail franchise stores. The business is a division of Dynamic Bedding who manufactures the products for the store. Finance Details King Pie: King Pie was established in 1993 and has been part of consumers’ lives for over 24 years with a strong South African heritage. King Pie products are known for its quality, taste, wholesomeness and value pricing. The King Pie franchise is without a doubt the biggest and most successful pie franchise with over 280 outlets in South Africa and African countries like Mozambique, Namibia, Swaziland and Ghana. Finance Details Concept: King Pie Store: 000 & R550 000 (Depending on size and layout) turnover Concept: King Pie Express Unit (Site dependent) turnover Concept: King Pie Kiosk (Site dependent) turnover available as unencumbered funds The Fish and chip co: Fish & Chip Co. Franchises bring old England’s national food of battered-fried fish escorted by huge fries to our shores to satisfy South African appetites. Finance Details Unlike the traditional franchisee model, the low royalties and marketing fees are fixed and not based on a percentage of turnover, making this model attractive to potential franchisees. VAT (Included in set up cost) ex VAT per week (subject to annual escalation) week (subject to annual escalation) Kumon: A Kumon centre is a supplementary Maths and English franchise. With centres in more than 46 countries around the world, this internationally recognised franchise focuses on the development of students through the Kumon programme. Finance Details minimum investment of R40,000.00 which includes your licence fee to operate your Kumon Centre monthly royalty tables, chairs, shelves etc. in accordance with Kumon guidelines marketing and rental will be offered Costs relating to starting up a new business and preparation of a suitable venue will be variable depending on location and the minimum investment and working capital have been calculated using base figures. These amounts may need to be increased to ensure financial stability while growing your business. Street Vendors – around office parks hoping to get people who left home too early to have breakfast. In the afternoons the same containers can be seen with people walking around with lunchtime meals such as rolls and meat. Whichever way one chooses to do it, it is important to understand the products you are selling, and know the people you are selling it to. How to get it right SMME Staff Reporter BEING a street vendor is very lucrative if you play your cards right – this is an observation made by our reporter who embarked on a walkabout in the streets of Durban, just to observe the street vendors and see which ones get more customers and which ones don’t. From our offices at Smart Xchange on Walnut road to The Playhouse Theatre through to Workshop Centre. Street hawkers working in and around office parks have an advantage of having loyal and regular customers, they form a relationship with their customers. This enables them to provide exactly what the customers need, and if the customers want something that the vendor doesn’t have – there is room for negotiation. Around areas of tourism such as the Playhouse where people come in from different places just for a period of short time and leave – it is all about opportunity. Vendors have a limited amount of time with customers and have to make sure they are visible and sell things that are appealing, that ensures that the customers are taken and immediately want to buy. Most people may think that in and around busy areas, that’s where street hawkers make a lot of money. But out of observation, that might not be the case. It depends on what people are busy doing really. The Workshop for instance has a lot of people who are just passing by or waiting for someone. Buying for them isn’t really an option. There are also a lot of hawkers selling similar things to one another, customers are spoilt for choice. Out of ten customers, one hawker may end up with two or none. It is important for street hawkers to identify their working zones strategically. You might be selling good products to the wrong people. Another form of hawking which is becoming popular in Durban is being mobile. A lot of hawkers carry visible containers with whatever it is that they are selling. In the mornings – they can be seen with cupcakes walking Free membership at the BEE Chamber The BEE Chamber is offering FREE Associate Membership to everyone involved in B-BBEE. As part of your membership, you will: 1) Have access to the Daily BEE News, compiled to keep practitioners informed of everything B-BBEE in the media 2) Receive this daily email showcasing the headlines and other BEE related events 3) Have access to all future BEE Chamber events. The Entrepreneur of the Year competition sponsored by Sanlam and Business Partners is an annual competition that recognises and honours South African entrepreneurs in the small and medium enterprises (SMEs) sector. The competition celebrates excellence in entrepreneurship with the aim to inspire others to venture into and succeed in the world of business. Prizes You will always gain access to some of the paid-for services of the BEE Chamber, including: 1) Learnership management 2) Bursary management 3) SED Projects 4) Ownership Assistance (Trustees & Equity Partner) For more information: http://www. thebeechamber.co.za/newmember Entrepreneur of the Year (EOY) Awards open on 5 March 2018 Finalists stand the chance to win prizes worth a total value of R2 million, which includes cash prizes of R500 000. Finalists and winners are able to expand their networks and receive invaluable media exposure for their businesses as a result of the competition. For more information contact Fax: 011 713 6655 Telephone: 011 713 6600 Email: email@example.com http://www.eoy.co.za/contact-eoy/
The first issue of TourismTattler’s quarterly magazine features the Magic of Kenya, the Secret Season of South Africa’s Whale Coast, the rehabilitation of Pendjari National Park in Benin, and a whole lot more about travel and business tourism in Africa.
Insight Magazine is Sierra Leone's most authoritative business and investment magazine. It is part of the stable of business and investment products and services which make up Insight Media and Communications (www.insight.sl).
In this issue:
We feature AYV’s Anthony Navo Junior – the man who is redefining the media landscape in Sierra Leone; Beatrice Chaytor, AUC trade advisor, brings her authoritative eye to the African Continental Free Trade Area; Fadi Bassir – our new contributor and expert in SSA investment discusses the benefits of equity finance; and Mariama Seray Barrie, agriculturist and writer, makes the case for an integrated approach to agricultural policy.
The Mistake That Made Me – our new series dips into the wisdom of making mistakes; The Future is Female – a look at the changing landscape of African entrepreneurship; Did you make money during the elections? Most of you say no!
Find more on www.insight.sl