SAB Foundation open for entrepreneurial skills development applications

SAB Foundation’s Andiswa Gumede says entrepreneurs add value to society and strengthen economies.

The SAB Foundation’s Tholoana Enterprise Programme 2021 is now open for applications from entrepreneurs.
Entrepreneurs on the programme will receive extensive entrepreneurial skills development, mentorship and access to tools and templates.

Andiswa Gumede, SAB Foundation Tholoana Enterprise Programme specialist said, “Entrepreneurs add value to society and strengthen economies. To succeed and sustain that growth, they need market opportunities, mentorship, business skills and funding.”

Since its inception in 2015, the programme participants have increased their collective turnover by 85 percent, from R170 million at inception to R315 million as at 2019 – and created 832 new jobs.

Andiswa added, “In 2020, thousands of businesses were forced to cease their operations during the Covid-19 pandemic. None of our participants had to close their doors despite being unable to trade. In fact, turnover increased by 146 percent and job creation by 35 percent.”

This year, the SAB Foundation will recruit 40 to 60 entrepreneurs who meet the following criteria, with their business being:

  • Fully operational and trading for at least 12 month
  • Black owned and managed
  • Headquartered and registered (if applicable), within South African borders
  • A going concern, commercially sustainable and viable
  • In the early stages of growth.

In addition, applicants must be involved in the daily operations and management of the business on a full-time basis, not be employed by any other organisation, have the skills and experience necessary for the type of business they are engaged in, and show entrepreneurial and leadership abilities.

The programme will give preference to enterprises run by or benefitting people living with disabilities, women and youth-owned businesses, peri-urban and rural enterprises and those that create jobs in areas with few other opportunities.

Applications are also welcome from businesses working in new and growing sectors such as export, manufacturing, food processing, water, energy and waste management.