Business hubs you should know in South Africa
HIGHWAY MAIL / 10 MAY 2018 - 13.11 / STAFF REPORTER
Business hubs are designed to provide relevant support to active and aspiring entrepreneurs. Which ones are available in South Africa?
The road to success can be a daunting one for small and medium enterprises (SME). SMEs often struggle to source business capital and other tools in order to progress. It is from this background that the concept of business hubs came about. Business hubs are designed to assist SMEs through their early stages until their businesses are big enough to be self-sustaining. Here are some of the business hubs making a difference in South Africa.
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SA Business Hub
SA business hub has been established in order to assist small business owners with affordable and accessible business training. This platform also acts as a marketplace for goods and services as well as being a global network for small business owners and entrepreneurs.
Transnet Enterprise Development Hub is designed to expand business opportunities for smaller enterprises and new business entrants. With capital injection of over R2 billion, The hub offers services such as business development, business registration, procurement advisory services, tax registration and compliance, financial support and guidance on black economic empowerment requirements.
The Innovation Hub
This hub provides value-adding business services to support the growth of technology-rich business enterprises over the long-term. This hub also works on increasing the wealth of local business knowledge, promote a culture of innovation, and stimulate the competitiveness of small companies and knowledge-based institutions.
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BizQube is specifically established for science graduates who want to learn how to start and successfully grow a technology-based business. It is results driven, provides accredited business training and customised mentoring. Entrepreneurs under this hub should be seeking supplier development opportunities in the food, beverage, cosmetic and pharmaceutical manufacturing sectors.
Timbali Technology Incubator
Timbali’s focus is bringing start-up agri-SMMEs into the mainstream economy. Timbali provides both the physical infrastructure as well as support services to assist SMEs grow into competitive businesses through training, mentorship, technology packaging, financing facilitation and marketing.
Raizcorp is an indigenous African incubator which provides support for enthusiastic, growth-hungry entrepreneurs, offering them a platform that fosters learning and guidance, which can be translated into practical business success. Raizcorp currently supports more than 500 businesses, has more than 1500 businesses which have graduated and receives between 10 and 40 incubation programme applications per day.
The business hubs listed above should be considered by active and aspiring entrepreneurs.
Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER