Youth-owned enterprises in the Northern Cape are benefiting from an Economic Development collaboration programme. The programme partnerships includes the Industrial Development Corporation (IDC), Small Enterprise Finance Agency (SEFA), National Youth Development Agency (NYDA) and Droogfontein Solar Power.
The programme has identified the gap in start-ups being able to become sustainable businesses that can thrive, expand and employ more staff, which will help to drive local economic development that is more robust.
Each of the participating partners play a key role in this journey, from providing start-up funding in the induction phase to mentorship, development funding, loans and finally equity share.
One of the first beneficiaries of this collaboration, a pet grooming business that launched nine years ago, is receiving mentorship, a business vehicle from Droogfontein Solar Power and initial working capital to help ensure sustainable growth for this small enterprise.
“The donated vehicle, funding and mentorship, will help this youth-owned and run business grow as they can now service a larger area and are able to collect and deliver more pets,” explained Zuki Ndlela, Economic Development Officer for Droogfontein Solar Power.
Youth business-owner, Anver Clinton Temm, explained the impact of the COVID-19 pandemic on the business and how the support is helping to steadily recover business activity in addition to the potential to grow the company, by reaching a larger client base.
“We expect to see significant growth as we are now able to offer a pet collection and delivery service and believe that we’ll be able to build the business into a profitable enterprise that can inspire other young entrepreneurs to pursue their dreams,” said Anver Clinton Temm, owner of Bling Bling Pet Groomers, which aims to become a premium grooming and kennel service for dogs and cats in the greater Kimberley area.
SMMEs play a key role in rural South Africa as they are productive drivers of inclusive economic growth and development, representing 98% of the total number of companies and employ over half of the country’s labour force.