Prior to the free #BuyaBusiness expo to be held at Ticketpro Dome from the 8th to the 10th of September 2016, Eskom Development Foundation (EDF) has expressed concerns over South Africa’s vision to 90% of employment opportunities established by Small and Medium Enterprises (SMEs) by 2030, then there should be development by responsible governmental departments to provide an enabling environment for SMEs to enlarge their network in order to facilitate growth of their businesses and startups.
More so, small enterprises in impoverished and rural settlements must be empowered to upgrade their activities and market to a better level to attract investment that will spur scaling up and employment of new staff. Entrepreneurs and business gurus are all of the view that the SMEs in Africa signifies a pressing opportunity for market growth in all sectors if well trained to pursue right partnerships with existing larger businesses and even to have a hub where SMEs could network and provide insight and experience to each other.
Speaking from experience, Xhanti Payi – who works with EDF mentioned that “In a thriving economy, everyone wins.And helping small businesses to their feet is key to developing a thriving economy”. Most often, providing loans and other investments for startups and SMEs are regarded as cooperate social responsible by some private businesses while others identify that as a charitable favor. However, Payi disregards that. According to him, investing in SMEs in Africa is really a win-win activity which strengthens the economy of both sectors and the continent at large.
With access to funding and most atoms a good capital to launch ideas being the real problem, Payi commented that, Eskom Development Foundation has initiated several programs to aid the development of startups and to enhance the growth of the SME sector as well creating employment opportunities. These initiatives includes business management trainings as well as contests and challenge for upcoming entrepreneurs.
Additionally, experts from Eskom Development Foundation added that franchising could be a very great opportunity for some investors as big franchises mostly offer a lower level of risk for true entrepreneurs and investors.