R1.3m in prizes up for grabs in small business competition
IOL - NETWORK / 26 SEPTEMBER 2019 - 09:00 / NETWORK REPORTER
Durban - Eskom Development Foundation is holding a Business Investment Competition (BIC) for black-owned SMMEs in the manufacturing, engineering and construction, trade and services as well as agriculture and agri-processing sectors.
The foundation, tasked with implementing Eskom’s CSI strategy, operates as a non-profit company, and is holding the competition to boost SMME development.
Registered small and medium enterprises, which have been operating for 24 months or longer, can enter and stand a chance to win a share of R1.3 million in prizes.
The foundation said the competition aimed to contribute towards encouraging entrepreneurship by recognising and rewarding promising small businesses as well as providing a platform for them to become part of a community of like-minded entrepreneurs.
The overall winner will receive R300 000 while winners in each category will take home R131 250. The first and second runners-up in each category will win R75 000 and R50 000 respectively.
All BIC finalists will have the opportunity to participate in The Business Connect which takes place in December.
An initiative by the Eskom Development Foundation, The Business Connect connects small businesses with big business, government departments and other prospective clients. The event includes talks by experts on trends, innovative solutions and networking opportunities.
“It’s truly a privilege to be given the opportunity to support entrepreneurs that create jobs,” said Eskom Development Foundation’s chief executive, Cecil Ramonotsi.
* For information and to enter the competition, visit www.eskombic2019.co.za
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