Sell your business and generate wealth using social media- Motse Mfuleni

Use social media - not for popularity but to sell your business and generate wealth.

That was one of the rallying calls at a robust discussion - aimed at aspiring entrepreneurs – on Thursday night.

The Mfuleni & Friends foundation hosted another business conversation roadshow on Thursday night at the Chillax Pub in Walmer township.

At the event were a panel of influential business people, representatives of the Nelson Mandela University, local entrepreneurs and members of the public.

The initiative aims to create a space for information sharing for young aspiring entrepreneurs in the townships.

Mfuleni &Friends founder, Motse Mfuleni, said growing up in a township, with little resources had informed his decision to team up with influential friends and help others access information in hopes of growing a new group of entrepreneurs.

He said there had definitely been positive outcomes since the establishment of the initiative.

“Through these sessions, I’ve managed to make partnerships with local businesses to grow township economy and give back to the people,” he said.

He added that next year would be the last roadshow in Port Elizabeth as they moved to other townships around the Eastern Cape. Addressing those gathered at the business conversation, Thapelo Kuze of the Thapelo Khuze foundation, encouraged aspiring entrepreneurs to think big and be strategic. He urged them to cut unnecessary costs in business.

“Use social media, not for popularity but to sell your business and generate wealth, we do things for image and stomach, God has blessed us all with brains and we must build our legacy,” Kuze said.

Local hairdresser, Lisa Gotyana, 37, from Ultimate Stylist in Walmer Park, said that despite being in the construction business already, owning a salon has always been her dream.

“I’m a passionate hairdresser, and such programmes help, especially with the information sharing.

Now I know where to go and who to call to start up my business,” she said. Siyanda Makwabe,29, said that he always had a dream of venturing into student accommodation.

“It is a great business but with lot’s of risks and no guarantees, one can manage to secure property but it’s difficult to secure a loan from the bank to develop the property [and then to] only get a one year contract with an institution,” Makwabe said.

He urged the institution to consider long-term agreements with private accommodation owners. A representative from Nelson Mandela University acknowledged the request and promised to look at the matter.