​Many start-up businesses tend to fail due to a lack of knowledge on the part of the business owner, or a lack of support from business people who have ‘risen through the ranks’ and learnt how to manage and grow their businesses effectively.

The City of Cape Town is seeking to address this through a series of workshops aimed at sharing knowledge. The most recent micro-enterprise workshop was held on 25 May 2016 in Kraaifontein. The session attracted about 50 micro-enterprise owners, armed with their questions on the challenges they face.

 

The discussion was centered largely on how to successfully manage business finances, alternative payment methods and how to register on the City’s vendor database to do business with the City, among a number of other general business management questions.

 

‘We have committed to building an opportunity city by creating economic opportunities. I must commend the various individuals for taking that first step to starting their own business. But as a City, we would all be failing these individuals if we don’t work with them to ensure their success. In this tough economic climate with shrinking formal employment opportunities, we encourage individuals to become entrepreneurs. So all of us need to offer assistance where we can. I see this as a partnership between the City, the established business sector, and the micro-enterprise owners,’ said the City’s Mayoral Committee Member for Tourism, Events and Economic Development, Councillor Garreth Bloor.

 

 

Being able to access basic business skills development and having access to information and support organisations were key conversations.

 

Nedbank representatives were also on hand to offer financial advice. The Local Area Economic Development Unit and the Business Support and Supplier Development Unit from the City’s Economic Development Department were in attendance to advise on the assistance and services provided to small businesses and informal traders. This workshop also provided an ideal platform for networking.

 

 

A very positive outcome was the suggestion by the local business community to start a business forum or association to maintain the momentum of such an engagement process.

 

‘This consideration by the business community must be lauded as it is a step in the right direction. I encourage local business people to support each other in order to create economic growth, a stronger business community and local economy. My message to entrepreneurs is to not be afraid to ask for help. It is available,’ added Councillor Bloor.