ENTREPRENEURSHIP

Hope for entrepreneurs

Chantyl Mulder (SAICA), Deputy Minister Elizabeth Thabethe and Andiswa Silinga (entrepreneur)
Chantyl Mulder (SAICA), Dep.Minister Elizabeth Thabethe and Andiswa Silinga (Entrepreneur).jpg

The Hope Factory, a reputable Enterprise and Supplier Development Non Profit Company,  brought its funders and entrepreneurs together during a Stakeholder Day at the Crowne Plaza Hotel in Rosebank. The Hope Factory is part of the Nation Building division of the South African Institute of Chartered Accountants (SAICA). Its funders will see first-hand how their contribution is helping entrepreneurs to grow their companies.

Stakeholder Day included a Supplier Expo where The Hope Factory’s entrepreneurs showcased their products and services, linking funders to entrepreneurs. The expo, which was also open to the public - and The Hope Factory had a stand where Corporates could find out more about The Hope Factory Supplier Development offering.

Elizabeth Thabethe, the Deputy Minister of the Small Business Development Ministry was one of the guest speakers at the event. “The creation of the Small Business Development Ministry is a real step in the right direction by government. Finally small businesses have a direct link to government, a place where they can be heard and receive help to deal with the many challenges they may have. We are excited to have the Deputy Minister join us, she will see what we do and hopefully The Hope Factory can assist the Ministry with some of its mandates,” says Annie McWalter, CEO of The Hope Factory.

Terence Nombembe, CEO of the South Africa Institute of Chartered Accountants (SAICA), says, “This is the day that always stimulates in a practical way the desires and aspirations of ambitious South Africans.  On this day The Hope Factory is able to bring together partners who work together every day to touch lives, the funders, business mentors and entrepreneurs. In this way they contribute towards a thriving economy and job creation – this is what we need to build a better South Africa for all.”

McWalter adds, “Sometimes the thin line between success and failure for an entrepreneur is to know that someone believes in you and your vision. That’s what our funders are doing and saying to our entrepreneurs with their immeasurable contributions.”  

This year, The Hope Factory’s focus was to highlight to both big corporates and small businesses the importance of Supplier Development (SD). Small businesses need support in order to grow their business and to help contribute to the economy. This is in alignment with the Amended B-BBEE Codes which stipulate the need for corporates to guide small companies for business support and success. “Many corporates are still in the dark as to how these new codes on Supplier Development will impact their business. SD is all about corporates working with their suppliers to guarantee success for both parties. The new codes instruct that a greater portion of investment must now be made to suppliers” says McWalter.

One of The Hope Factory funders, Mercantile Bank, a Business and Commercial Bank, whose sole purpose is to grow entrepreneurs; understands the importance of investing in entrepreneurs. The CEO of Mercantile Bank, Karl Kumbier says, “Partnerships with organisations like The Hope Factory are imperative in the entrepreneurial space, as they assist in providing support and much needed mentorship for SMEs to enable them to take their businesses to the next level. Another added benefit is that SMEs are integral to future job creation in this country, in that most large corporates are cutting jobs and SMEs are creating jobs. This long term relationship will see all stakeholders benefit and most importantly will contribute tremendously to the economy of South Africa.”

McWalter says, “Stakeholder Day is important to us as a company mainly because we want to motivate our entrepreneurs to work even harder and empower them to become the big corporates of the future. Hopefully they in turn will also invest in the entrepreneurial space and assist other small business to become successful. The purpose of the day is to say ‘Thank you” to our existing funders and showcase the excellent results of The Hope Factory’s Enterprise and Supplier Development programmes”

 

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