Enterprise - helping new Business
One of our key goals for the future is to expand our small business start-up and business enterprise development work.
Joblessness is a big challenge facing our community and for many
starting their own small business could provide a path out of poverty.
We know from our experience of helping entrepreneurs in Masi that
there is a strong demand for this sort of help, and we want to
be able to support
and encourage those with viable business propositions to make their
dreams a reality.
Establishing a successful business can be tough at the best of times, so
our programme of support in this area focuses on the critical success factors:
- Business planning to ensure viability
Before supporting the launch of any new business in Masi, we need to feel confident about its potential. To do this, we stress test the thinking and business planning of each and every business that we support. Here, the experience and advice of local business professionals and experts in enterprise development is crucial and we rely on a network of volunteers to help “brainstorm and build” any business plan that comes our way. - Ongoing mentoring and regular support
Much of what exists in this arena at present centres on ad hoc workshops to train individuals in hard skills and business basics. This provides invaluable opportunities for learning, but a more tailored mentoring and partnership programme can provide the crucial longer-term support that new businesses desperately need. We have a team of proven business professionals who volunteer their time and advice to the pool of businesses that we support. Each business has a named mentor and they are encouraged to meet regularly for business catch-ups and strategic planning. - Access to funding
Without access to funding, many people’s dreams remain just dreams. Through our own fundraising initiatives, we are able to provide entrepreneurs interest-free start-up and development loans. In the future, we also hope to be able to help small businesses access state grants and loans that become available. - Our business resource centre
Over time, we hope to build up a resource centre to enable a better understanding of what additional support is available to the residents of Masiphumelele and how best to achieve certain business objectives. Whilst many of our business owners have developed their own set of hard skills in, for example, fabric painting or baking, many still need support in key business functions such as sales, distribution and communications. Here we look for collaborative opportunities with other NPOs or local initiatives.
For example, we are currently working closely with Living Way, a local organisation which provides training programmes to empower people to earn their way out of poverty. Their courses cover topics such as worker readiness, business basics and agribusiness. We also turn to industry specific support hubs such as the Cape Town Craft and Design Institute who help our crafters access and showcase some of their work at domestic and international craft markets.
To find out more, please click on the links below: