Knysna SMME project bearing fruit

01 Feb 2016 | Admin Author

The Knysna municipality has announced that its Small Medium and Micro Enterprises (SMME) Incubator project, initiated three years ago, has assisted 51 small businesses in the district to date.

These businesses, in turn, have managed to employ some 200 workers in the same period.

Designed by the municipality's Economic Development Unit to develop entrepreneurs, the incubator project is now in its third cycle, with 24 entrepreneurs from the greater Kynsna area the latest to receive training and equipment to the value of R25 0000, with assistance from Nedbank.

Municipal manager Lauren Waring said the municipality initiated the programme in the 2010/2011 financial year to address the specific needs of local entrepreneurs, and to assist in their development and survival.

"Research has shown that successful completion of a SMME incubator programme dramatically increased the long-term survival rates of SMMEs compared to those who did not. The reasons for better survival rates included established support networks and resources in the crucial start-up phase of a business," Waring said.

"In addition to getting 51 SMMEs up and running since 2010, the businesses themselves have been enabled to employ 200 others, which in turn feed at least 800 individuals in the greater Knysna area. Projects such as these are excellent examples of how local government and business can work together to the benefit of the community and the town."

As part of extensive business skills training, participants develop business plans in which equipment specific to the needs of their business are identified.

Start-up equipment is currently being installed in the latest successful applicants' places of business.