SAB shows how a little help can go a long way
AN ENTREPRENEUR’S journey has enormous potential to create jobs, build the economy and uplift communities. However, this journey is not without its challenges, and only 25 percent of businesses survive beyond five years.
The SAB Foundation proves that a little help can go a long way, with 95 percent of the businesses it supports still in operation. For this reason, the foundation is calling for entrepreneurs to apply to its annual Tholoana Enterprise Programme, which aims to give entrepreneurs invaluable help and support.
The SAB Foundation Tholoana Enterprise Programme is a structured, two-year business support programme. It provides entrepreneurs with assistance to access markets, experienced business mentors and critical training to help them address operational shortcomings, grow their businesses and create jobs. So far, more than R157 million have been deployed to support 473 programme participants. This has helped them to increase their collective turnover by 85 percent, to R315m a year, and created 2 445 jobs.
Applications open once a year, with about 60 new entrepreneurs who show the most potential and commitment, selected to take part. However, this is not limited to short-term support, and Bridgit Evans, SAB Foundation director, believes that forming longterm relationships is key to creating a lasting impact.
“An entrepreneur’s need for support does not end after this two-year period, and we have launched further initiatives to assist programme alumni as they seek to grow their businesses, especially where we can see high job creation potential,” says Evans.
The SAB Foundation recently launched the Tholoana Enterprise Programme Alumni Fund. The aim of this growth fund is to help small and medium-sized enterprises fulfil a new contract or invest in capital for a growing business.
When the nation went into lockdown, the SAB Foundation assisted a number of Tholoana alumni to access personal protective equipment contracts and also made R20m available for Covid-19 relief to ensure that as many businesses as possible make it through this difficult time.
In a recent poll, 89 percent of businesses on the Tholoana Enterprise Programme said they were not under great financial stress due to the support available.
The SAB Foundation is calling for entrepreneurs to apply for the next intake. Entrepreneurs must meet the following requirements:
◆ The business is black-owned, and is operational, viable and sustainable.
◆ The business is headquartered and registered within South Africa.
◆ The applicant is involved with the day-to-day operations of the business.
◆ The business has been in operation for six months to five years.
◆ The applicant possesses the essential knowledge and skills for the type of business in which they are engaged.
◆ The applicant can fully commit to the two-year programme and seeks to create positive change.
◆ The applicant has demonstrated ethical and high moral standards.
For more information, or to apply, visit www.sabfoundation.co.za/tholoana-enterprise-programme