Services Seta sets Alex youth up for success in business
Alex entrepreneurs are set to receive the knowledge and skills needed to enhance their chances of securing business funding or loans.
Alexandra-based entrepreneurs who run informal businesses face a myriad of issues that hamper the growth of their businesses.
These include a lack of resources, limited access to capital, and poor financial management. However, Thembalethu Development’s Services Seta programme aims to tackle these challenges head-on.
Read more: Alex youth join Services SETA for micro-enterprise development
According to Thembalethu’s project coordinator Muhammed Gadimang, teaching young businessmen and women in Alexandra about a business plan and good credit management is key to addressing the plaguing issue of funding.
“It is important for one to understand the frame of a business plan,” he said. “How is it put together? What are the most important things that are needed? How to interpret their business plan… For people to access funding, they need to be able to put a business plan together or interpret business documents. If there is any business funding opportunity that is available, we will be able to help people with it and assist them through that.”
Also read: Educo offers free SETA accredited qualifications to unemployed Alex youth
He added the programme would also ensure that young people understood the importance of good credit management, noting that it would help them to get access to funding from established financial institutions. Additionally, the programme exposes its beneficiaries to business grants that are granted by development agencies and the municipality, but it all begins with a business plan.
Gadimang said Thembalethu would provide participants various start-up tools, be mentored, coached and developed. “We are going to hold their hands for the next coming months, or even years until they are able to stand up on their own.”
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