While small, medium, and micro enterprises (SMMEs) face a number of challenges, it is evident that financing is still a major stumbling block for many entrepreneurs and small businesses.
“Business Leadership South Africa (BLSA) and the United States Agency for International Development (USAID), through their Beyond Advocacy Fund (BAF), have partnered with Enterpriseroom on their Township SMME Development programme to create opportunities for SMMEs through affordable funding,” says Olivier Serrao, executive of strategy at BLSA.
He says BAF represents the South African private sector’s aspiration to move “beyond advocacy” and towards deeper public-private dialogue and cooperation to jointly address strategic socioeconomic challenges facing the country.
Enterpriseroom is a transformation and business growth consultancy. It is dedicated to achieving socioeconomic transformation by starting, sustaining, growing and developing small and medium-sized businesses.
Through BAF, Enterpriseroom’s Township SMME Development programme aims to source finance from different partners to provide a blended financing product to SMMEs that is affordable and focuses on driving growth and sustainability. The programme was initially established in November 2021. Enterpriseroom is currently sourcing SMMEs from underserved and underdeveloped regions.
“After identifying these SMMEs, their needs will be assessed with respect to market access, business knowledge and their specific financing requirements. Based on these needs, the SMMEs will be supported and developed so they can access funding that will maximise business performance and build business sustainability for the long term,” says Niall Gahan, head of the Enterprise Fund at Enterpriseroom.
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