Big-four bank Nedbank is inviting small companies that need a boost to reignite their business to enter its incubator programme.
Nedbank Business Ignite is a mentorship programme which, according to Nedbank, has helped over 200 South African small businesses since its inception. It is run in partnership with Primedia’s talk radio stations 702 and CapeTalk.
This year, says the bank, the initiative will focus on firms applying new technologies with an eye on long-term sustainability. Like previous years, it is targeting those with an annual turnover under R5 million.
“We're happy to be able to grow and nurture South African businesses once more,” says Alan Shannon, Nedbank executive of client engagement for private clients and small business services.
“This year, we're looking for businesses that have creatively used technology to create sustainability. These are the people who power our communities and our economy as a country. They deserve all the support we can give them.”
According to the bank, 10 businesses across Gauteng and the Western Cape will each win a business package valued at R210 000.
This includes a cash injection of R50 000, a R100 000 media package to promote their business on either 702, CapeTalk or both, social media exposure worth R10 000, and a digital toolkit worth R10 000.
In addition, the winning business will participate in a tailor-made business incubation programme to the value of R40 000.
Matsi Modise, business growth expert and founder of Furaha Afrika Holdings, will assist Primedia in vetting and choosing finalists, and with the incubation of the winners.
“I love this campaign because it rewards the true resilience of business owners. Every day, these are people who take risks, trust their instincts, make brave decisions and invest in our country's economy. I look forward to learning more about their industries and to help them achieve even more,” says Modise.
Entries for the Nedbank Business Ignite programme close on 23 June. To enter, click here.
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