Township Entrepreneurs Alliance (TEA) empowered township entrepreneurs with skills, enterprise development and how to access market, at Dlamini Multipurpose Centre in Dlamini Soweto.
Stakeholders such as First National Bank (FNB), Raizcorp, and 3Sixty Group took part to empower township entrepreneurs.
Founder of TEA Bulelani Balabala said TEA is an organisation that hosts business workshops and creates platforms for knowledge sharing, brand engagement, learning and networking.
“If you want to grow your business and enlarge your network, then #JoinUsForTEA on our national and township near you”, said Balabala.
Wing Republic CEO Tlhompo Mokoena said entrepreneurs should market their products themselves instead of begging. Mokoena added that they should not let their businesses die.
“Identify the problem, check whether it is for many people and external problem. Examine the economics of customers before coming up with the solution. This goes together with frequency and duration. Find the solution to the problem and provide the customer’s needs or problem with required skill. Entrepreneurs should think for long-term plans and put themselves together. Understand the business industry and technology that you are entering into. Get the basics right and when solving the problem, money should come in”, said Mokoena.
Mokoena added that there is a BIA programme that assist entrepreneurs in South Africa. She said it gives away 1 million to township entrepreneurs and works with FNB in escalating businesses by insourcing.
“For an entrepreneur to get assisted, apply on BIA through Gauteng Provincial Legislature. We do incubations by workshops, monitoring and practical application. We also do case study and during mentorship, it is all about an entrepreneur’s business. We also go to rural areas”, she said.
Raizcorp CEO Allon Raiz said 96% of entrepreneurs fail within 10 years. Raiz added that 90% from 96% of failing entrepreneurs it is because they cannot push through when they encounter pain and rejection.
“Funding is killing businesses in South Africa. There should be a right model used when funding. An entrepreneur who seeks for funding should be an entrepreneur inside and before given funding. They should build their businesses slowly and sell with the right price relating to the market. If an entrepreneur, sells with the above price from the market, people will not buy”, he said.
Raiz said good mentorship is a creative operation. Mentors should not be nice to entrepreneurs but tell the truth and not be biased.
“Entrepreneurs do not have a choice but to win. People should not accept private sectors to create employment for them. Finding a job is like winning a lottery in South Africa as unemployment rate is too high. Even if people are hired, they should be side hustling and have objective, as growth shows positive responsibility. The problem with black entrepreneurs is that they try to work as individuals instead of collaborating. Businesses succeed through relationships. Appointing and recognising leaders within entrepreneurs will assist black businesses to succeed. Identify sectors that you can dominate, entrepreneurs should not remain small but go globally”, he said.
Billy Selekane Group CEO Billy Selekane said when entrepreneurs start a business, they should solve the problem the society is facing.
“Entrepreneurship is not for faint-hearted, easy come easy go you should strive to achieve and not give up when you encounter challenges in the business. Most people have a tendency of wanting the government to do something for them. Stand up, do things for yourself, and find solutions for the society. Countries like South Korea and Uganda were born on the same day. Today Korea is supplying the world with Samsung, cars and so forth. However, Uganda is still very backward. Africans should stand up and do something”, said Selekane.
- NTSOAKI TOLOANE