SMME Youth Dialogue

Addressing the challenges start-ups and youth-owned enterprises face, the College partnered with SMME support agencies for an honest discussion.

False Bay TVET College Khayelitsha Campus, together with the Department of Small Business Development (DSBD), hosted a youth dialogue with College students and young entrepreneurs from the Centre for Entrepreneurship/ Rapid Incubator on ‘Addressing the challenges facing start-ups and existing youth-owned enterprises’.

Representatives and senior officials from the DSBD, Small Enterprise Development Agency (SEDA), Small Enterprise Finance Agency (SEFA), National Youth Development Agency (NYDA) and other partner organisations placed themselves in the hot seat for the dialogue.

With a growing sense of urgency in pursuit of economic transformation and job creation through the development of small businesses and cooperatives, participants wanted to know what interventions would be provided to aiSMME YouthDialogued start-ups to meet their specific goals and also the goals set by the Presidency of growing the economy at a much faster rate than the population and creating two million more youth employment opportunities over the next 10 years.

All faced similar challenges including access to strategic resources, finance and marketing platforms, and participants were heartened by the presentation on the introduction of a blended financing model which will make the cost of capital less expensive, especially to those who are weighed down by debilitating start-up costs.

The blended finance model involves the mixing of grants and loans with the aims of lowering the cost of capital for borrowers, increasing access and improving the chances of survival and sustainability, especially for early-stage enterprises that require lower gearing and patient capital. This model will be introduced over the next three years, commencing in the current financial year (2019/2020).


A number of SMMEs supported by the College and the SEDA-supported CfE/RI showcased their products and services to those in attendance. The winners of the recent Poster and Pitch Competition, Vivian Boyce of EconoBuild and Trentville Solomons of Bornfree Construction Pty, were given the opportunity to share some of their lessons learnt.

http://www.dsbd.gov.za/wp-content/uploads/2019/07/BUDGET-VOTE-SPEECH-Final-Draft.pdf

 

 

 

 

 

 

SMME Youth Dialogue

Addressing the challenges start-ups and youth-owned enterprises face, the College partnered with SMME support agencies for an honest discussion.

False Bay TVET College Khayelitsha Campus, together with the Department of Small Business Development (DSBD), hosted a youth dialogue with College students and young entrepreneurs from the Centre for Entrepreneurship/ Rapid Incubator on ‘Addressing the challenges facing start-ups and existing youth-owned enterprises’.

Representatives and senior officials from the DSBD, Small Enterprise Development Agency (SEDA), Small Enterprise Finance Agency (SEFA), National Youth Development Agency (NYDA) and other partner organisations placed themselves in the hot seat for the dialogue.

With a growing sense of urgency in pursuit of economic transformation and job creation through the development of small businesses and cooperatives, participants wanted to know what interventions would be provided to aid start-ups to meet their specific goals and also the goals set by the Presidency of growing the economy at a much faster rate than the population and creating two million more youth employment opportunities over the next 10 years.

All faced similar challenges including access to strategic resources, finance and marketing platforms, and participants were heartened by the presentation on the introduction of a blended financing model which will make the cost of capital less expensive, especially to those who are weighed down by debilitating start-up costs.

The blended finance model involves the mixing of grants and loans with the aims of lowering the cost of capital for borrowers, increasing access and improving the chances of survival and sustainability, especially for early-stage enterprises that require lower gearing and patient capital. This model will be introduced over the next three years, commencing in the current financial year (2019/2020).

A number of SMMEs supported by the College and the SEDA-supported CfE/RI showcased their products and services to those in attendance. The winners of the recent Poster and Pitch Competition, Vivian Boyce of EconoBuild and Trentville Solomons of Bornfree Construction Pty, were given the opportunity to share some of their lessons learnt.