Enterprise Development Academy (EDA)
Having your own small business presents various challenges as well as rewards. When you are starting out and striving to expand your business, navigating the processes to apply for funding can seem daunting. However, being equipped with the right knowledge can give you the advantage of making your business a success.
In recognition of the challenges faced by entrepreneurs, African Management Initiative (AMI) has collaborated with the GIBS Enterprise Development Academy to recruit fifty women entrepreneurs, to participate in the Winning Women programme. This is a scholarship opportunity which is specifically focused on women entrepreneurs who want to raise their first bank loan to expand their business.
About the AMI Winning Women Programme
• The AMI Winning Women Programme is a six month online and in-person programme designed for women entrepreneurs who want to apply for their first bank loan to expand their business.
• The programme is supported by the Aspen Network of Development Entrepreneurs (ANDE) to help women entrepreneurs prepare their business for a business loan and navigate the application process.
• By the end of the programme, the entrepreneur will have the opportunity to submit a sample loan application and have it reviewed by loan officers from a leading South African bank.
The programme will enable selected participants to:
• Have access to a series of short online courses on how to raise debt finance as well as other business courses on topics ranging from marketing to finance and writing a business plan.
• Have access to an online community where they will connect with peers and access coaching and development tools.
• Attend two in-person Winning Women workshops in Johannesburg.
In order to be eligible for this scholarship opportunity:
• You must be a women entrepreneur who owns a business
• Your business must have an annual revenue of at least R200 000
• You must not yet have accessed formal SME loans (although you may have accessed group lending products)
• You must have access to the internet
The closing date for applications is 10 July 2015.
In order to apply for this opportunity, please go to the following link in your web browser and complete the questions:
More information about African Management Initiative
AMI seeks to empower African managers and entrepreneurs through practical and affordable learning and coaching tools. To meet this goal, AMI has developed an online social learning platform, available on web and mobile, that distributes extremely accessible short courses on topics relevant to African managers and entrepreneurs, as well as additional resources and networking opportunities.
AMI has been awarded a grant from the Aspen Network of Development Entrepreneurs to apply its learning and development model to women-led enterprises. The Winning Women Programme will empower women entrepreneurs in Africa to develop the knowledge, competence and confidence to scale their enterprises and improve their credit-worthiness, and therefore to increase the number of women-led enterprises successfully accessing loan capital. For more information please visit http://www.africanmanagers.org/
GROWING THE SMME SECTOR TO ACCELERATE THE AFRICAN ECONOMY
BACKGROUND TO THE ACADEMY
The Gordon Institute of Business Science is committed to building the business and leadership skills of entrepreneurs; helping them develop sustainable, efficient and profitable enterprises that are able to employ more people. To focus this support, GIBS has created the Enterprise Development Academy, a centre of excellence for the growth of new and existing businesses.
Understanding the Challenge
Statistics SA states that the official unemployment rate in South Africa is 25%; unofficial rates are closer to 40%. Either way, unemployment is one of the key socio-economic challenges of our time, creating further inequality and leading to social fractures.
The public sector and big corporates have limited capacity to create new jobs, and the National Development Plan refers to 90% of new jobs by 2030 having to come from small and medium enterprises. However, at the same time, it is commonly known that 80-90% of new businesses fail in the first two years. If we are to achieve the goal of having the SME sector produce the largest quantity of jobs, these enterprises need to be supported to be sustainable, to grow and to thrive.
The major challenges facing SME’s have been found to be:
1. Lack of business skills
2. Lack of access to capital
3. Lack of access to markets
Business owners find it difficult to address these challenges due to a lack of funds and networks.
Addressing the Challenge
The GIBS Enterprise Development Academy will deliver practical business education and leadership training by leading faculty and industry specialists to entrepreneurs. This will be followed by a comprehensive structure of support services, ensuring that the academic learning is applied to the business environment and impact is achieved.
To ensure that this education is accessible to those who would not ordinarily be able to afford it, the Academy will operate on a scholarship model; offered to all participants through the generous contribution of public and private sector partners committed to enterprise development.
Objectives of the Academy
1. To provide high quality business and leadership education, and support services for small businesses
2. Promote revenue growth, job creation and increased profitability
3. To develop practical and relevant material and tools to support entrepreneurial learning
The Academy has designed two programmes for entrepreneurs at different stages of their business life-cycle: Groundwork Programme (start-up) and Growth Advancement Programme (scale-up). These programmes will provide customised support to ensure the mitigation of the contributing factors for failure of micro and small businesses. Delegates will be exposed to networking events and peer learning platforms, and given access to mentors, coaches and other business advisors. Customised interventions will be created for each sponsored programme and will fall under one of the following broad frameworks:
HOW CAN THE ACADEMY HELP YOU AS AN ENTREPRENEUR?
- Revenue growth
- Profitability increase
- Job creation – employ more people
- Sustainability – efficient business systems and diversified income and clientele
HOW CAN THE ACADEMY HELP YOUR ORGANISATION?
- ED counts a minimum of 40 points towards BEE scorecard
- Contributions towards supplier efficiency and sustainability
- Enhanced diversity within the company supply chain
- Improved ability to procure from SMMEs
- Enhanced brand awareness and loyalty
- Enhanced reputational capital
GENERAL EXPRESSION OF INTEREST
If you are an entrepreneur with a good business idea or you are an existing business owner and would be interested in attending a programme at the Academy, please complete the Expression of Interest Questionnaire (see link below). By completing this form, you may be called to apply for a particular programme at a later stage.
1. Complete the Expression of Interest Questionnaire online (see link below)
2. Entrepreneurs will be selected from the database according to particular criteria and will be asked to submit further detail about their businesses and supporting documentation
3. Selected entrepreneurs will be called for an interview
4. The finalists will be offered a place in The Academy