Enter competition for manufacturing SMEs
Manufacturing SMEs are encouraged to enter the Eskom Business Investment Competition (BIC) which closes at midnight on 12 February 2021.
“Manufacturing is the fourth largest industry in South Africa and bolstering participation in this sector provides a ripple effect in boosting technology and engineering in the country. It also goes a long way toward creating jobs,” the organisers said. “Investment in the manufacturing sector creates an environment that supports other economic hubs that will improve the country’s productivity by increasing the ability to trade with other countries.”
The manufacturing sector had to contend with a shortage of raw materials, a shrunken workforce and, in some cases, a limited capacity for production due to the Covid-19 pandemic in 2020.
Help for new entrepreneurs during this hard time SowetanLIVE > By SowetanLIVE - 02 February 2021 - 15:00 Help for new entrepreneurs during this hard time. Image: 123RF
Statistics SA reported that the unemployment rate has reached an all-time high of 30.80 % in the third quarter of 2020. Many South Africans have opted to start their own businesses to earn money and create employment for others.
However, running a business is hard work, especially if you’re doing it without any kind of support. Luckily, for entrepreneurs that are starting out, there is help. Help in the form of campaigns run by businesses like Eskom and Cell C, to name just a few.
14 Desember 2020 06:08
âRegistered black-owned small, medium and micro-enterprises (SMMEs) across the country that have been operating for 24 months or longer, are urged to enter the Eskom Development Foundationâs Business Investment Competition (BIC) and stand a chance to win a share of a R1,3 million prize,â said Cecil Ramonotsi, CEO of the Eskom Development Foundation.
A report compiled by GEN 22 on Sloane, which offers start-up funding opportunities and access to markets, notes that more than 55 000 SMMEs in South Africa will not survive the Covid-19 global pandemic. A total of 92% of SMME business operations have been impacted, and at least 42 350 of those working for these SMMEs will lose their jobs.