Networking event bridges gap for small businesses

The event provided positive information for small businesses on the South Coast.

June 11, 2022

Sugan Naidoo 2 minutes read

Finding the event very informative are (from left) Vanesa Moodley, Sandra Moodley and Sharon Pather of Port Shepstone. 7803SN

In recognition of Youth Month, SmartXchange in Port Shepstone came up with an excellent idea, “Connect With My Biz” to develop awareness of the SmartXchange Incubator, start-ups and the business community.

The organisation identified the need for dialogue and positive action in dealing with the challenges faced by youth in South Africa in participating effectively in the economy.

The event presented an opportunity for youth and participants in business to explore the facilities at the SmartXchange, to meet and network with other Small, Medium and Micro Enterprises (SMMEs), strategic partners, existing and prospective clients.

Fatima Moolla centre manager at SmartXChange said they want to bridge the gap between small businesses, funding agencies and local business through networking and information sharing.

“To those of you who are not familiar with SmartXchange, think of us as a university where SMMEs are given the best opportunities to grow and succeed in their endeavours in the media, information communication technology, electronics and arts sector, a place where you are mentored and provided with the necessary support and infrastructure that will allow your business to grow.”

She added that while South Africa grapples with an increasing unemployment rate, crime and other ills, SmartXchange hopes that this event will be able to draw more young people into the economy through entrepreneurial and innovative economic activities.

Speakers
Dr Anitha Ramsuran from the Technology Innovation Agency explained the different funding programmes to support innovative projects relevant to township and rural economy.

Nonhlanhla Shibe from the National Youth Development Agency (NYDA) said the agency is designed to provide young entrepreneurs with an opportunity to access both financial and non-financial business development support in order to enable them to establish or grow their businesses. He spoke about different requirements that are essential for funding applications to be approved.

Sibonelo Ndlovu from the South African Revenue Service addressed the impact of tax compliance for SMMEs. He spoke about the importance for SMMEs to be tax compliant and outlined all compliance requirements and explained why there are sometimes issues. He also stressed the need for financial knowledge empowerment.

Rhulane Ngoveni project specialist from Small Enterprise Development Agency (SEDA) discussed its role in supporting small business. Other speakers gave encouragement and added that there is support for small businesses.