Greenhouse for budding business

Our economy, our country, our continent and our world needs entrepreneurs.

This was the message from Ilembe Chamber of Commerce president Xolani Gumede at the launch of the 2018 Entrepreneur Competition last week.

The eighth annual Entrepreneur Competition aims to identify and assist dynamic business people with fledgling businesses trying to make it in a dog eat dog world.

The aviation themed launch was also used as an opportunity to unveil the new The Entrepreneur trophy, courtesy of ACSA King Shaka International Airport.

The Chamber partners with Enterprise Ilembe, The North Coast Courier, ACSA King Shaka International and Sembcorp Siza Water in presenting the competition.

The launch saw business leaders from both the private and public sectors gathering to network and share stories about their experiences in the realm of entrepreneurship.

Guest speaker and founder of Electrical Technologies (an alternative energy resource company) Mfanelo Ndlovu spoke passionately about validating yourself as an entrepreneur, leadership skills, the value of mentorship and the potential to grow your business through hard work.

“As a young black entrepreneur, the risks you have to take can be very scary,” said the business owner and gifted inventor.

“Programs such as the Entrepreneur Competition can be just the thing you need to unlock yours and your business’ potential.”

For his part, Chamber president Ndlovu said being an entrepreneur was a journey that was impossible to explain until you had walked the path yourself.

Ilembe district mayor Sduduzo Gumede said they were proud to be associated with both the Chamber and the Entrepreneur Competition since its inception.

“I have been keeping a weather eye on the Chamber’s activities and I must say, I am impressed – not only by this but by all the work you undertake for both business and the community as a whole,” he said.

Over the past seven years, 188 finalists have taken part in the programme, with participants reporting 49% growth in revenue following their participation. In addition to enhancing the viability of finalist’s businesses, these businesses have created 217 new jobs in the local economy at an investment of just over R2520 per job retained and created.

The 2018 competition will run over 10 weeks during which 25 finalists will be exposed to intensive business modelling, both through tuition and practical application, as part of a programme co-designed by the University of KwaZulu-Natal (UKZN) and USA-based Massachusetts Institute of Technology (MIT).

Competition finalists will also be supported through mentorship by chamber-accredited mentors with invaluable business experience.

Entries close on June 22. The first tuition session will take place on July 14.

Interested business owners need to complete an application form that can be downloaded from the Chamber’s website (www.ilembechamber.co.za) or collected from the Ilembe Chamber offices.

Closing off the day’s events, the mayor stressed the importance of building an inclusive economy and encouraged business leaders to make an effort to open up opportunities for those with less.
“If you give people the chance, they too can play their part in our economy.”

Contact Sakhile Khumalo at sakhile@ilembechamber.co.za or 087 354 6343.

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