Nedbank supports small business in South Africa with job creation, business incubators, training and mentorships. Entrepreneurs are the lifeblood of the economy. And through your hard work, passion and dedication you contribute to the growth and wellbeing of our people, our communities and our country.
At Nedbank, we vote small business and salute you with a number of programmes and initiatives designed to support and nurture startups and SMEs.
1. National job creation initiatives through municipality engagement
The support and development of emerging black businesses and entrepreneurs remain a core focus of government. Nedbank has engaged with various municipalities around providing grant funding for the purpose of capacity-building and mentorship programmes for small and medium enterprises (SMEs). The training programmes encompass business skills training and mentorship to ensure that the theory is practically applied in the respective businesses.
The Expanded Public Works Programme appointed Nedbank as their preferred service provider for the Vuk’uphile Learnership Programme, aimed at developing emerging contractors. After five years and through partnerships with 24 implementing authorities (national, provincial, municipalities and public bodies/state-owned enterprises), 554 learner contractors have benefited.
Nedbank contributed R2,7 million in mentorship funding for the development of these small, medium and microenterprises (SMMEs), with 2 977 job opportunities created, R41 million total lent thus far and zero rand being written off for the past five years. In 2017 Nedbank was re-awarded the tender for an additional five-year period.
2. Partnerships and alliances with NGOs for job creation
A major focus area is engagement with non-governmental organisations (NGOs) that focus on job creation. Nedbank has a crucial role to play in providing complementary support by way of financial and non-financial interventions to NGOs and emerging black enterprises.
i) Business incubators
Nedbank has partnered with many different business incubators, training initiatives and sector-specific interventions. The incubators provide SMEs with a platform that ensures an end-to-end nurturing and development solution. The SME receives crucial support, such as training and infrastructure, and access to service providers and capacity-building programmes for each of the beneficiary enterprises, all under one roof.
ii) Training, mentorship and specialist advisory services
Through alliances with service providers that provide accredited training programmes and capacity building, clients are assisted in areas where they lack acumen or expertise.
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