Giving business a head-start
Pair on a mission to inspire new entrepreneurs
TWO business partners are on a mission to inspire entrepreneurs and reduce the unemployment rate in Mdantsane.
Olwethu Salayi and Mandisa Ngonyama founded Sifunukwazi Services, a network which aims to keep aspiring business owners informed – and updated – on new developments and initiatives in the sector. The pair hosted their first session yesterday at the Mdantsane Sun.
Their inventiveness is creating a platform for state entities such as the Eastern Cape Development Corporation, the National Empowerment Fund (NEF) and the National Youth Development Agency to share what they have to offer emerging businesses in the sector.
Other stakeholders included the department of labour and the South African Revenue Services.
Salayi who holds a diploma in nursing and business management, said: “The Eastern Cape has the highest unemployment rate in the country. There are so many people who are sitting around, waiting to be employed however there are not enough jobs for everyone.
“We want the people here to change their mindset and to see themselves as employers and play their role in the transformation of the economy,” she said.
“There are many opportunities to venture into businesses, or get mentorship and training if one has the willpower to start a business, but our people need to know the right doors to knock on.”
Ngonyama said she first learnt about the NEF in 2012, when she was in the market to buy a house in Baysville for her business.
“These agencies are there, but not many people know about them and it makes you wonder how they are fulfilling their mandates when they do not have a broader reach, which is something we’d like to see change,” she said.
NEF regional investment analyst Viwe Nqebe said they only used 10% of their funding in the region. “We offer loans from R250 000 to R75-million for businesses that have the potential to create job opportunities.
“We also give guidance to entrepreneurs who may not have the business acumen with regards to operations and cash flow for example,” Nqebe added. The ECDC’s Zoliswa Mgandela said they offered loans to small, medium and micro enterprises from R50 000 to R5million within the Eastern Cape.
“We fund businesses that cause no harm to the community, meaning we don’t fund taverns, taxi owners and brothels, but we have a strong interest in the creative industry to promote artists and crafters whom we then help to find markets for their products,” she said, adding that these markets were both local and abroad.
Ngonyama said while the pair had to charge attendees for this first session to cover the cost of the venue hire, they hoped to offer it free in the future.
Funding beneficiary, Aristopix CEO Vuyisa Mfaka, who runs a fleet management company, shared her experience of how she had managed to grow her business out of the R43-million she and her two brothers received in 2011.
“It was difficult, but our determination kept us going and we had to give of ourselves to our business because we couldn’t let our business fail nor could we do anything else until we settled our debt, which we did.” —