The South African Business and Technology Incubation Association (SABTIA) will host an international business incubation conference in September to address learning, networking, best practice development and other activities critical to successful business incubation.
The conference, entitled "Incubation: The key to creating economic wealth", is sponsored by the Godisa Trust and will take place at the Misty Hills Conference Centre in Muldersdrift, Johannesburg.
It is directed at organisations that provide mentoring and other assistance to emerging businesses, so they can contribute to increased employment and a stronger formal sector.
"Nurturing talent to create sustainable business is a significant contributor to increased employment opportunities as well as the successful commercialisation of entrepreneurial spirit," says SABTIA chairperson Odette Potter.
Potter says around 70% of small businesses started in SA fail in their first two years. The reasons for this include barriers such as lack of finance, education, business delivery, business skills and networking, she explains.
Incubations, she says, have been proven to produce a better success rate of small businesses. "We had 142 businesses and only 11% of them failed. Business incubators create the right environment for the SME because they, among other things, link them up with the government."
Potter notes that in addressing the challenge of barriers locally, incubators supported by SABTIA assist entrepreneurs, especially ones coming from previously disadvantaged communities, to turn their ideas into viable business propositions.
"Through the work of incubators allied to SABTIA, we are providing a means for the South African entrepreneur to gain access to the knowledge, professional approaches and business acumen required to get their business to succeed," she adds.
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