IT was very much business as usual at Nelson Mandela Bay’s Hope Factory yesterday where more than 50 entrepreneurs graduated from the organisation’s pilot Business Development Programme.
The Hope Factory is a Port Elizabeth enterprise-development organisation which focuses on both assisting the start-up of small businesses and supporting, equipping and developing existing small business entrepreneurs with the skills needed to grow their enterprises.
According to the Hope Factory, the answer to turning around South Africa’s rising unemployment rate lies in encouraging entrepreneurship.
“However, according to the latest Global Entrepreneurship Monitor (GEM) report, the success rate for South African start-up businesses reaching the 3½ year mark is 2.3%. In short, they’re often unsustainable,” the organisation’s marketing, events and communications manager, Jolandi Snyders, said. “The Hope Factory is helping to address this problem through the addition of new Business Development Programmes in order to equip and develop entrepreneurs with the business skills, not only to survive, but to grow their businesses.”
Snyders said the programme was aimed at both entrepreneurs running businesses that were not yet registered, and those operating registered companies but who wanted to see their businesses grow to the next level.