However, the growth and development of these survivalist businesses is currently being stifled, as many of them do not understand the broader ideas that are required for enterprise sustainability, and have a narrow and short term view of business development.
The Vuka Mentorship Programme, which is a structured enterprise development initiative, is helping to change this situation by assisting corporate companies in cultivating SMMEs that can supply products or services within their local communities.
"Through a structured, verifiable and measured approach, the mentorship programme is engaging with corporate businesses to help numerous entrepreneurs shift their business mindset and implement measures which will make their enterprises more sustainable. Subsequently, the programme is helping to significantly grow the community supplier base of corporate companies," explains Sharon Reed, CEO of Neosho119, which runs the Vuka Mentorship Programme.
Through various corporate partnerships, including Nedbank and the Gauteng Province, the programme has already reached over 2 400 aspiring entrepreneurs in the past year.
Reed notes that corporate companies who participate in the mentorship programme are assured that their BEE goals will be furthered, owing to the programme's auditable process. "We're currently the only mentorship programme in South Africa to provide a verified audited trial when BEE rating agency, Empowerdex asks for documentation. This service allows the rating agency, host company, and mentor to track progress of the mentored companies.
"Therefore, I believe that programme is one of the few ways that corporate companies can ensure that their BEE spend is not wasted and will assist in furthering South Africa's transformation objectives and grow sustainable entrepreneurs."
She concludes that corporate companies partnering with the mentorship programme are also assured of making a difference to South Africa's long term development. "The programme has the requisite tools to identify entrepreneurs with business potential, assess their business ideas, and mentor them towards creating sustainable wealth. Therefore, through partnering with us, corporate companies can contribute significantly towards growing South Africa's economic base through helping to develop sustainable entrepreneurs."
