Young entrepreneurs and small business owners from Katlehong
will now have access to infrastructure, networking and mentoring through the
newly launched Ekurhuleni West Centre for Entrepreneurship Rapid Youth
Incubator (CfERI).
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The centre seeks to assist budding entrepreneurs. Credit: Enfield Council
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The centre seeks to assist budding entrepreneurs to overcome
barriers identified in their entrepreneurial journey. “Through this centre, we
seek to provide students and participants with the theoretical knowledge and
entrepreneurial skills that will enable them to start and run successful
enterprises.
“This launch is another milestone in our collective efforts
to create a nation of entrepreneurs. This is, indeed, a significant milestone
towards meeting the objective of pushing back the frontiers of poverty and
unemployment in our country,” said Small
Business Development Minister Lindiwe Zulu.
The Minister was speaking at the official launch of the
Rapid Incubator centre in Katlehong township in Ekurhuleni.
Minister Zulu was flanked by the City
of Ekurhuleni Mayor Mzwandile Masina, Small
Enterprise Development Agency (Seda) CEO Mandisa Tshikwatamba and the Ekurhuleni West Centre TVET College Principal
Manakedi Ntlatleng, as she cut the ribbon and opened the doors to the centre
for the first time.
About the centre
The centre is a joint partnership between the Small Business
Department through Seda and the Ekurhuleni West Centre TVET College. Furnished with state-of-the-art equipment, an ideas lab and
a co-working space, the centre aims to provide support to youth owned enterprises,
who often have little to no capital or funding.
“The model has some unique support
instruments like idea pitching and polishing and a dedicated seed fund for
viable ideas or business models with sound market traction,” said Zulu.
While the Rapid Incubator will focus on universities and
colleges, it will also service all sectors and small businesses in the
Katlehong catchment to unearth new ideas and business ventures run and owned by
the youth.
According to the Minister, it is envisaged that the Rapid
Incubators will build a strong link to the schools or faculties of Visual Arts
and Design to support enterprise creativity and design support.
The first phase capacity building will also be aligned to
the Technology Innovation Agency (TIA)
creativity and idea generation programme.
The Rapid Incubator is a bid by government to curb the high
failure rate of small businesses.
“The high mortality rate of small, medium and micro enterprises (SMMEs) is a matter of concern for us as government. Given their sheer numbers and propensity to fail, it is critical to have interventions that seek to ensure that SMMEs are self-sustaining.
“Centres for entrepreneurship are dedicated to promoting
entrepreneurship, venture-creation, and economic development through
universities and TVETs. It achieves these objectives through its extensive
research, teaching, and service activities and drives the creation of early
stage youth-owned enterprises,” said the Minister.
CfERI beneficiaries
Beneficiaries earmarked to benefit from CfERI include
businesses such as Cosfire, a charcoal manufacturing company owned by Dephney
Uguelo. The business uses natural raw materials to manufacture coal,
which it sells to people residing in Soweto including vendors and hawkers, who
in turn use it for their small businesses.
The newly registered Magatammogo Ladies company, which
registered with the Companies and Intellectual Property Commission (CIPC) in
May 2018, is also in line to benefit from the centre.
Owners of Magatammogo Ladies -- Sonto Malinga, Lerato Letau,
Glory Mokhele, Dorcas Mabelane and Jeanette Phoshane, who hail from Palmridge
-- manufacture and sell blankets, shoes and doeks and provide skills
development training.
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