PLETTENBERG BAY NEWS - Small businesses in Plettenberg Bay received a boost last week when an incubator programme was launched in Bitou.

The initiative is a collaborative effort between Bitou Municipality, Nedbank and the Small Enterprise Development Agency (Seda) aimed at assisting small local businesses. Nedbank provided funding of R440 000 and will also assist with coaching, mentoring and supporting the businesses, while Seda will be providing business support. The municipality is facilitating and coordinating the programme.

A memorandum of agreement for this partnership was concluded in September and the opportunity was advertised for businesses to apply in October. Following the application deadline, 33 applicants were shortlisted for interviews.

Eighteen small businesses made the cut and became the first beneficiaries of this programme which was launched at The Fat Fish restaurant on Thursday 22 November.

Nedbank national manager for public sector initiatives Phumela Xeyla said the partnership was designed to assist, especially businesses owned by previously disadvantaged individuals, and was set to turn “job seekers to become job creators”.

Seda district manager Quinton Coetzee said the biggest challenge when getting a business off the ground is not money, but information on how to access funding.

Mayor Peter Lobese said he is grateful that Seda, Nedbank and the municipality “found each other”. “It is always good to have such a partnership for the benefit of small businesses,” he added.

“For a municipality to have money it must generate revenue. If these SMMEs become successful, they will contribute to our revenue. So today we celebrate the launch of this partnership. It is a three-year contract and I hope all the partners will be honest with each other so that we can all be the best together,” Lobese said.

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