Top awards for small business owners
TWENTY-two small business entrepreneurs across the Cape Flats were awarded certificates following the completion of an eight-month University of Stellenbosch Business School (USB) programme yesterday.
The entrepreneurs demonstrated the power of enterprises to improve the economy and contribute to alleviating poverty.
Sponsored by Distell, Absa and De Beers, the programme empowers small business owners in low-income areas with knowledge to grow their businesses, become more sustainable thereby increase the potential for creating employment.
The programme, launched in 2013, aimed to bridge the gap and has trained 236 small business owners, equipping them with relevant business education.
According to a 2017 research study by Global Entrepreneurship Monitor and the Banking Association of SA, the small and medium enterprise sector is estimated to contribute between 35%-45% and 50%-60% towards Gross Domestic Product (GDP).
Head of USB, Dr Marietjie Theron-Wepener said: “Research indicates that not all small businesses survive their first years.
“Typical hindrances include the inability to create a business plan, poor market research and financial planning and management,” she said.
Top three small businesses received awards for their drive to succeed, capitalising on opportunities.
Nicholas Lamohr, founder of Lincpin-PM, an innovative digital company won the award for a top student and credited the USB programme for opening up a world of knowledge.
Parow managing director Michelle Mzee received the award for the best business plan for Cleanstation a cleaning and security company.
Barbara Thandeki, co-owner of Khubar Hair and Beauty from Gugulethu and winner of the De Beers Business with the Most Potential award, sees their wig weaving business from human hair as more than a means to make a living.