The SMME Opportunity Roadshow hosted more than 350 SMMEs (small, medium and macro enterprises) at the Durban ICC on Wednesday, 18 August 2015. This free event educated business owners on how to implement a winning business model that will create jobs and improve employee skills. SABC news anchor, Tumelo Mothothoane was the programme director, with representatives from Standard Bank, KwaZulu-Natal Office of the Premier, National Youth Development Agency and Recycling and Economic Development Initiative of South Africa taking the podium.

 

Speakers at the Roadshow made some interesting remarks on the subject of small businesses, youth and the role the government plays in the development of small businesses. Gay Mncube, Youth Development Manager at the office of the Premier, shared that there is a lack of educated youth in the Province. He pleaded for the youth to be educated on running sustainable businesses, to leverage on their youthful minds and the benefit of the years ahead of them which allows them room for ample growth. This session ignited an intense conversation between the state and young business owners attending the Roadshow. The proceedings swiftly moved to master classes in HR, financial management, information and communications technology, as well as sales and marketing for more empowering teaching from influential experts.

 

“As the bank for entrepreneurs, we focus on making access to credit possible and, therefore, take different approaches to helping SMMEs get to credit readiness,” said Ethel Nyembe, Head of Small Enterprise at Standard Bank during the Roadshow.

 

Standard Bank follows a framework of the ‘five Cs when getting SMEs ready for credit, which were shared during the Standard Bank financial management master class at the Roadshow; namely:

  1. ‘Character’ which relates to personal records, behaviours and attitudes. SMEs need to show a good record of repaying debt, a good record in the industry in which they operate.

 

  1. Then there’s ‘capacity’. This relates to the business’ ability to repay specific amounts at specific times. Can they afford the new debt?

 

  1. ‘Capital’ refers to how much the business is worth in rand terms, how much the business and other investors have put into the business, and whether they have other means of settling their debt if the business cannot.

 

  1. ‘Collateral’ is about the assets they agree to use to repay the bank if the business cannot.

 

  1. The last ‘C’ is ‘conditions’, which takes into account external factors that could affect their business. Environmental conditions refer to the general state of your industry and the area where you trade.

 

“The SMME Opportunity Roadshow in Durban raised the bar remarkably. We were quite impressed with the heated question and answer sessions and to see how business owners value their service offering,” says Greg Penfold, Head of Events Division at Cape Media. “We were also happy about how people took to social media to share their concerns as local business owners and their appreciation of the positive effect of the Roadshow. Now we head to the mother city – Cape Town, we hope you are ready,” concludes Penfold.

 

Durban was the third City, after Johannesburg and Port Elizabeth to host the SMME Opportunity Roadshow. The last SMME Opportunity will end off in Cape Town.

 

To book your seat at the last SMME Opportunity Roadshow, please visit http://www.smmesa.co.za/registration, select ‘Cape Town’ and your free registration will be approved.

 

Event details of the last SMME Opportunity Roadshow:

Date: Wednesday, 09 September 2015

Time: 08:00 – 17:00.

Venue: To be confirmed

RSVP and exhibition opportunity: Zama Hlekani | zama@capemedia.co.za | 021 6817000

 

If you can’t be at the venue, don’t miss out – watch the live stream on http://www.capemedia.tv/.You can also join the discussion on Twitter @SMME_Roadshow and on Facebookhttps://www.facebook.com/smmeor.

 

 

 

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Released by Reputation Matters

Media contact:

Morongoa Mohloba

Mobile: 081 411 6089

Email: morongoa@reputationmatters.co.za

Event Exhibitors:

Standard Bank | BMW | Ethekwini Municipality | Recycling and Economic Development Initiative of South Africa (REDISA) | National Youth Development Agency | National Empowerment Fund | SEDA Platinum Incubator