hWill it be scattered from community-based operations into the CBD market? The sustainability of any business is built on the premise of a strong network and the promise of access to the market. Community businesses don't have the network connections needed to take advantage of CBD's trade opportunities.
There is a premium access to the market. We've all heard the story that small businesses are the fuel for the economy and the engine that stimulates the economy. The National Development Plan (NDP) envisions South Africa where small and medium-sized enterprises (SMMEs) are at the epicenter of economic development.
The sick South African Post Office, located at Sanlamhof, 4-Strand Street, next to Sanlam headquarters, has served Belleville and surrounding communities for decades. While there is no substitute for fond memories of receiving handwritten letters and parcels, the community is invited to support a slightly different service. Thanks to the foresight and cooperative leadership of these two parties, the Western Cape University (UWC) trading incubator in Sanlam.
The incubator houses companies such as Silulo Ulutho Technologies, Brown Girl Creations, and Corpchem Chemicals, each bringing unique products and services to the community. This collaboration between UWC and Sunlam is set to play a vital role in job creation, innovation and improving communities, and tells us a critical step towards economic empowerment of township businesses.
UWC Sanlam Partnership
At the heart of the UWC Sanlam partnership is the hope and hand-up that will allow SMMES to remain a beacon of hope for young people in the community who want to become entrepreneurs. This partnership is “a place of quality, a place of growth. From hope to action through knowledge.”
This impactful initiative seeks to provide solutions to the challenges SMMES often faces. In addition to market access, it offers affordable trading space, professional coaching, regular networking events and places it for long-term success.
The University of the Western Cape is committed to creating a fair and dynamic society. The establishment of the Center for Entrepreneurship and Innovation (CEI) in 2012 was an extension of the UWC mission to contribute to the triple challenges of unemployment, poverty and income inequality. For 10 years, CEI has established itself as a professional provider of cutting-edge business development support and customized mentoring and coaching support during and after incubation. The trading incubator is unique as the first initiative of this kind linked to universities that focus solely on providing gateways to market access and round support for community SMME.
This impactful initiative seeks to provide solutions to the challenges SMMES often faces. In addition to market access, it offers affordable trading space, professional coaching, regular networking events and places it for long-term success.
Inclusive economic growth
Incubators are part of UWC's broader mission to stimulate inclusive economic growth. It focuses on black-owned businesses, focusing on economic inclusion across gender, race and age.
Manie Regal, executive director of finance at UWC, added: By providing community businesses with access to Belleville's trading space, we also contribute to revitalizing our region, fostering a more inclusive and vibrant economy. ”
Sanlam CEO Paul Hanratty said: “SMMES is essential to driving sustainable job creation in South Africa. Through our incubators, we not only provide access to the market for community businesses, but also contribute to the growth of our economy in the future.”
Community Entrepreneurs
The first cohort consists of nine township-based businesses, four of which are women-owned businesses. It covers a variety of industries such as internet cafes, African clothing, home decoration, fashion accessories, rustic furniture, beds, bilton and more. Entrepreneurs pay a developmental rent of R50 per square meter. Since its launch, resident entrepreneurs have been displaying their products at the Bellville Business Expo (October 17-18) held at the Tygervalley Shopping Center. They also had access to Sunlam's monthly market day.
Encourage action
The South Africa and the public sector of businesses need to join forces to ignite a new dawn to restore all South Africa's dignified livelihoods.
South Africa needs more incubators linked to universities if the SMME sector reaches the potential to drive job creation and economic growth. UWC has been building a blueprint for a decade to support the growth of both business and personal leadership skills at Township SMMES.
Sunlam is generous in its support, providing facilities with zero rentals, and covering additional fictionalities such as monthly security and cleaning costs.
The South Africa and the public sector of businesses need to join forces to ignite a new dawn to restore all South Africa's dignified livelihoods.
Sunlam also covered all renovation costs and paintings and branding to creatively reuse the post office. CEI is responsible for managing incubators, monitoring and tracking impacts, and organizing monthly networking sessions.
Hanratty adds: Through shared resources, mentorship and access to markets, entrepreneurs can be successful and able to contribute to South Africa's economic future. Now is the time for the private sector to step up and become part of the solution. ”
About CEI
CEI specializes in community and youth entrepreneurship projects. Targeting and Transformation projects include Fellows' Leadership and Mentoring Programs, Master Builder Contractor Projects, and Digital Skills. The Youth Project focuses on developing the next generation of innovators. As the 2024 Enactus National Champion, the Enactus UWC team proudly represented South Africa at the 2024 famous Enactus World Cup.
For more information, please email klamani@uwc.ac.za
