Some people start businesses because they want to be leaders, make more money, or because they are unemployed.
A report by the Global Entrepreneurship Monitor has revealed that many South Africans are turning to starting their own businesses as a way to combat unemployment.
Business Partners Limited Executive General Manager, Impact Investment, David Morobe said the 2021/2022 report showed that unemployment has increased from 84.7% in 2021 to 89.5% in 2022, indicating that unemployment is being used as a motivation to start businesses.
That’s why they and various stakeholders continue to run the Small and Medium Enterprise (SME) Toolkit Competition, also known as the Business Plan Competition.
The winner will have access to the tools and training they need to explore the viability of their business idea.
“Platforms that promote entrepreneurship can play a pivotal role in transforming people's lives and livelihoods, which in turn ties in with the UN Sustainable Development Goals,” Morobe said.
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Morobe said the competition was in its 15th year.Number The competition also serves as a platform for showcasing the entrepreneurial talents of the country.
“Entrepreneurship holds the key to addressing the various economic, social and educational dimensions of sustainable development.”
He stressed that SMEs are important because they make tangible contributions to poverty alleviation through job creation, innovation and social empowerment. Over the years, the competition has offered applicants the opportunity to develop their skill sets and acquire foundational knowledge to transform their dreams into reality.
Towards a global goal
We welcome applications from all members of society to help address social inequalities.
“There are groups in society that have traditionally been overlooked: people from marginalized communities, young people, women.”
Applications are welcome
He said aspiring entrepreneurs aged between 18 and 35 are welcome to apply and participate in the 2024 Small Business Toolkit Business Plan Competition.
“The competition will begin with a series of in-person and online training sessions and culminate with a competition in which participants will submit business plans for their selected ideas.”
The application deadline is August 30th.
