ENTREPRENEURSHIP remains the only viable solution to address the country’s increasing unemployment crisis.
To promote the concept, the Eskom Development Foundation hosted a media round table discussion and factory tour in Richards Bay to showcase its contribution in this regard.
Finalists of the Eskom business investment competition, entrepreneurs Zokuthula Goqo (trade and services category), Indrani Govender (engineering and construction), Siyabonga Sibiya (winner of the metal products manufacturing category) and Siyabonga Peter (trade and services) shared their experiences in business and how the competition process helped their businesses.
The event was hosted at Metal Products in Alton.
Acting CEO of the Eskom Development Foundation, Cecil Ramonotsi, said access to markets continues to be one of the key barriers for entrepreneurs looking to build sustainable small businesses.
‘While it is widely accepted that small businesses are the key to poverty alleviation and inclusive economic growth in South Africa, there is a need for targeted interventions to ensure SMEs are key participants in the value chain of large industries and markets.
‘We acknowledge the difference small black-owned businesses can make to our economy.
‘With a deep and accurate understanding of the players in the market and where the linkages are, businesses can then create products and services that will strengthen the chain.
‘This is how we will ensure these small businesses unlock economic opportunities and lead to inclusive growth,’ said Ramonotsi.
Winning business
Winner of the manufacturing category, Siya Sibiya, says his company Metal Products has struggled to gain access into various markets and form part of the broader supply chain of large industries.
Sibiya walked away with R100 000 which he invested in acquiring machinery to improve his business.
‘The biggest challenges are access to markets. We have really struggled to open doors and get opportunities to quote for work.’
Metal Products is a general fabrication company, working with steel, aluminum and stainless steel.
Their clients include MTN and Vodacom, for whom they fabricate cellphone and radio towers. They have also ventured into manufacturing pipework for the Department of Water and Sanitation.
Even with an annual turnover of R19-million and 25 full-time employees, Sibiya believes there is still room for large companies to incorporate SMEs like his into their value chains.
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