YOGAVELLI NAMBIAR SMEs need to be supported to be sustainable, to grow and to thrive
Small business development received a boost with the launch of the Gordon Institute of Business Science’s (GIBS’) Enterprise Development Academy (EDA) at the business school’s campus in Illovo, Johannesburg, last month.
“Government’s National Development Plan stipulates that 90% of new jobs have to be created by small and growing firms by 2030. If we are to achieve the goal of having the small and medium-sized enterprises (SME) sector produce the most jobs, these enterprises need to be supported to be sustainable, to grow and to thrive,” notes GIBS EDA director Yogavelli Nambiar.
She tells Engineering News that, as a leading business school in South Africa, GIBS is committed to building the business and leadership skills of entrepreneurs by helping them to develop sustainable, efficient and profitable enterprises that can employ an increasing number of people.
Nambiar notes that the GIBS EDA was, therefore, created as a centre of excellence to develop new and existing SME businesses.
She adds that business creation needs an enabling environment, where entrepreneurs have access to funding, best-practice tools and skills development. The academy aims to provide practical and relevant business education and leadership training for entrepreneurs, which will be followed by comprehensive support services to ensure that learning is applied to the business environment.
To ensure that this education is accessible to those who would usually be unable to afford it, Nambiar says the EDA will function primarily on a scholarship basis, offering education to all participants through the contribution of public- and private sector partners that are committed to enterprise development. These contributors include retail giant Massmart, State-owned freight logistics group Transnet, pharmaceutical company GlaxoSmithKline, beer giant SAB and regulation body of the home building industry the National Home Builders Registration Council.
Small Business Development Minister Lindiwe Zulu delivered the keynote address at the launch.
“South Africa needs an entrepreneurial revolution to spark a shift in direction towards entrepreneurship and SMEs that will take the country forward. Entrepreneurs need support to. . . develop their enterprises in an environment that nurtures. . . these enterprises and enhances their job-creation potential,” she said.
Zulu noted that, if significant job creation was to be achieved, the common problems that SMEs faced needed to be dealt with; therefore, partnerships and initiatives, such as the GIBS EDA, were important in creating a conducive environment for those looking for information and tools to help them make their businesses thrive.