Landmark deal primed to unlock international best practice to benefit South African SMME’s:
The institution responsible for the grading, accreditation and continuous professional development of Business Advisors, business coaches, and Mentors serving Small, Medium and Micro Enterprises (SMME’s) in South Africa has signed a major deal that is destined to create inclusive entrepreneurial growth through innovation.
The Institute of Business Advisors Southern Africa (IBASA) has concluded a 3-year agreement with GrowthWheel South Africa, with support from the Small Enterprise Development Agency (SEDA) under the South African government who signed as witnesses. GrowthWheel are renowned worldwide for providing an online framework used by Business Advisors to empower entrepreneurs and business owners to manage their businesses, grow market potential, mature their concepts and increase operational efficiencies using real-time analytical data. GrowthWheel’s groundbreaking, transformative toolbox is essentially a cloud-based platform that facilitates direct interaction between Business Advisors and clients so that companies can optimize their prospects. Research has shown that businesses grow 70% faster and are sustained for longer when connected to an accredited Business Advisor.
The futuristic agreement took place on the side-lines of the 2nd South African Business Incubation Conference (SABIC) held at Emperor’s Palace in Kempton Park, Ekhurhuleni. The conference was called at the behest of the Minister in the Department of Small Business Development (DSBD), Ms Lindiwe Zulu. The seminal SABIC 2018 featured the who’s who from the business, development and tech industries who gathered over two days to explore and deliberate on Business Incubation under the following subthemes:
• Entrepreneurial EcoSystems
• Industry Trends and Innovation
• Funding & Commercialisation
• Digital Disruption
IBASA’s Chief Executive Officer (CEO), Mr Joseph Tshiwilowilo, says, “In terms of the agreement, the parties will be sharing best practices to enable the growth and development of SMMEs in South Africa. IBASA’s services, expertise and proven methodologies have been recognized as essential in facilitating entrepreneur growth in South Africa”. Tshiwilowilo explained that this landmark arrangement with GrowthWheel will adopt IBASA’s proven integrated, well-coordinated Business Incubation model to benefit small businesses. “There is no better endorsement of IBASA’s role than this agreement”, enthused IBASA’s CEO, proudly.
SEDA’s CEO, Mandisa Tshikwatamba agreed, “Getting our partners in the ecosystem to work together will make a positive contribution to small businesses. With IBASA’s credible members on board and GrowthWheel as our preferred primary incubation framework providing world-class, digital tools, this will benefit young enterpreneurs and bodes well for our vision and mandate as SEDA.”
In the first quarter of 2018, President Cyril Ramaphosa launched the YES initiative with the primary aim to see more than one million young South Africans being offered paid work experience over the next three years. The programme, a collaboration between government, business, labour and civil society, places the needs of SA’s youth at the centre of inclusive economic growth. Parties to the agreement see the collaboration between IBASA, GrowthWheel SA, SEDA and the DSBD as a timely intervention that will provide the momentum needed in response to curbing the country’s high unemployment rate.
Representing the co-signatory was the MD of GrowthWheel SA and Vice President (VP) of GrowthWheel Global Partnerships, Mr Hilton Theunissen. He was accompanied by founder and global CEO of Growthwheel International Inc. Mr David Madié who had flown in to witness the signing. “IBASA and GrowthWheel SA have now joined forces with strategic partners to enhance efforts by SEDA and president Cyril Ramaphosa’s Youth Employment Services (YES),” said Theunissen. “IBASA members will play a critical role to help South African Medium Enterprises (SMEs) to turn work-placement opportunities into full time jobs for youth”, Theunissen concluded.
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