Photo by: Duane Daws
The final selection for the first batch of 200 high-potential businesses in a new Department of Small Business Development growth acceleration programme is currently under way.
Every year for the next ten years, 200 promising, high-potential entrepreneurs would be selected through an open application process under the auspices of the Small Enterprise Development Agency (Seda) to undergo a comprehensive range of business growth-oriented programmes, activities and partnerships.
Over 500 applications were received by the close of the application process in October, with the 40 best of the 200 high-potential candidates to be selected by December to participate in a high-care platform, which Seda acting CEO Lusapho Njenge described as an “incubation on steroids” programme to develop a new breed of successful entrepreneurs.
Speaking at the second National SMME Policy Colloquium, in Sandton, on Friday, he said that, in partnership with KPMG, EY and Sizwe Ntsaluba Gobodo, an integrated package of benefits, business opportunities and incentives and practical and effective business training and support would be provided to the qualifying businesses.
The selected participants would have access to supply chain, procurement and market access opportunities, development and commercial funding, customised business and managerial training, mentorship and coaching and virtual incubation.
The entrepreneurs would also participate in government-led international trade and business visits.
The programme focused on ten sectors, namely manufacturing, information and communication technology, construction, transport and logistics, tourism, agriculture and agroprocessing, mining and beneficiation, media, communications, and creative industries, health and bioscience and energy and the green economy.