Partnership 'creates wealth'

KNYSNA NEWS - The partnership between Nedbank Business Banking and Knysna Municipality that began in 2009 continues to help set small businesses on the path to success, boosting the economy and stimulating job creation.

To date, more than 100 local businesses have benefited from the original initiative by getting equipment and stock from Nedbank thanks to a R500 000 contribution towards enterprise development funding for small entrepreneurs identified by the municipality.

At least 112 permanent jobs have since been created by the businesses on the programme.

Support on all levels
Since 2009 the incubator has provided entrepreneurs with training, mentoring and one-on-one coaching, with the intention of empowering small business. Nedbank contributed a further R250 000 to the incubator in 2012, raising the funding to R750 000.

As one of the flagship programmes of the municipality supporting microenterprises, the municipality continued with the programme in 2015 using its own funding.

Nedbank again partnered with the municipality following a new intake of 2017 SMME incubators on 4 September 2017. A total of 21 incubatees were chosen after a rigorous selection process that included an entrepreneurial test undertaken by the Small Enterprise Development Agency (Seda) and interviews by a panel of experts.

More funding received
And now the municipality has received an additional R300 000 grant from Nedbank – taking the figure for enterprise development to over R1-million for this particular SMME incubator programme to support further development of local entrepreneurs in the Greater Knysna municipal area.

The grant funding will be used to purchase equipment for the entrepreneurs who form part of the mentorship programme.

Speaking at the handover ceremony in Knysna recently, Nirmala Reddy, a senior manager at Nedbank Business Banking, said the bank is proud to partner with the municipality because unlocking the SMME sector potential is key to economic growth and job creation in South Africa.

'Extensive training'
"All 21 participants have been through a week of extensive business acumen training, and this handover function is the culmination of efforts to ensure that they leave with the necessary tools to help them on their journey," said Reddy.

"Whether in the early stages of running a business or embarking on a growth trajectory, you need the right banking partner," said Reddy.

Councillor Levael Davis (DA) said the goal of the initiative is to empower people of the town, and to ensure they get the necessary skills to help them achieve their goals. He adds it has been a successful public-private partnership model, showing that government and private sector can contribute towards finding collective solutions to common challenges.

With its incubator programme, Knysna Municipality and Nedbank Business Bank has helped another group of entrepreneurs to expand on their dreams. Photos: Supplied

'Creating wealth for communities'
Mayor Eleanore Bouw-Spies said the objective is to provide the necessary seed capital to help the participants strengthen their businesses and operational capacity to assist them in increasing business sales so that they can grow and employ more individuals.

"The Nedbank Incubator, therefore, contributes towards the development of 21 entrepreneurs from the marginalised communities of the Knysna municipal area to become successful business owners. These businesses will in turn create employment, and generate wealth for the entrepreneurs, their families and the communities," said Bouw-Spies.

The lucky ones…
The entrepreneurs who benefitted from the programme are as follows: