Eskom Development Foundation’s Business Investment Competition (BIC) is giving SMME businesses from across the country, an opportunity to enter a competition from 4 December 2020 until 31 January 2021 midnight and stands a chance to win prizes worth R1.3 million.
CEO of Eskom Development Foundation Cecil Ramonotsi said businesses should be registered, black-owned, medium enterprises and have been operating for two years or more.
“BIC gives South African SMMEs owners a platform to become part of community like-minded entrepreneurs, in order to build on their businesses’ solid foundation and realise their potential. GEN 22 on Sloane has reported that over 55 000 SMMEs in South Africa will not survive the COVID-19 global pandemic. GEN 22 offers start-ups funding opportunities and access to markets”, said Ramonotsi.
Ramonotsi said their main purpose with the BIC is to boost enterprise development in a year that small businesses have encountered challenges, been stretched and some decimated due to corona.
“Eskom has been running BIC for 12 years with an aim to recognise, reward and boost small businesses that are contributing to skills development, job creation and economic growth. The competition is open to enterprises operating in the manufacturing, engineering, construction, trade or services and agriculture sectors”, he added.
Ramonotsi said the overall winner will walk away with a grand prize of R300 000, as well as additional business training once the competition is over. He added that each of the four sector winners will also go home with R125 000, while first and second runners receive will get R75 000 and R50 000 respectively.
“All BIC finalists will have an opportunity to attend a business connect webinar taking place in March 2021. It is a platform aimed to give businesses an opportunity to network with other small businesses and be exposed to business experts in different fields. To enter the competition, visit www.eskombic.co.za,” he said.
