Small businesses in South Africa are recognized as a driving force for economic growth and creation of jobs and so enterprise development programmes offered by government and corporates offer black entrepreneurs the opportunity to find support and training to further develop their small businesses.
Helping small businesses to achieve sustainability and growth is vital for both the development of industries and corporations. Small businesses are critical for job creation, improving living standards, raising productivity and achieving inclusive economic growth and social cohesion. Corporates can help achieve this by including small business into their value chains and local communities.
Many of the new jobs will come out of the small, medium and micro-enterprises, which is why enterprise development programmes are emerging around the world.
Enterprise development involves the growing of small and medium-sized black businesses through the provision of finance and support, assisting in their business development and sustainability. In creating a programme for enterprise development, budding entrepreneurs and their staff will earn a living, which in turn uplifts their quality of life and that of their families and friends and their entire communities
Enterprise development programmes aim to pass on knowledge, experience and business support. This aim will provide start-ups with essential tools and resources that can then be used for the development, survival and success of business. Essential tools and resources can be divided into financial and non-financial support. Non-financial support can be provided in the form of mentorship, coaching, market access, network access and the learning of new skills.
By offering an enterprise development programme corporates are awarded:
• Points on the BEE scorecard
• An opportunity to diversify their supply chain
• An innovative way to increase business for both small and medium sized enterprises.
It’s an inspiring vision for business to play a real role in the sustainability and growth in the country’s economy.
80% of South Africa’s start-ups fail in the first three years and this is largely attributed to a lack of support. However, the survival rate of a start-up is increased by the incubation process, which assists small businesses in becoming financially viable, usually within two to three years. As part of the incubation process, a variety of essential tools and resources can be provided, one of which is in the form of mentorship and coaching.
A coaching methodology is a powerful enabler to achieve sustainable and accelerated results in developing entrepreneurs and their businesses. Typically, a coaching approach has a far greater chance of achieving sustainable business success than just standard management techniques.
Furthermore, a coaching approach develops an ownership commitment to the process by the participants (coachees) themselves.
Business Coaching is a specialization of coaching. It is all about coaching people in the context of their business and work environment. It is a holistic coaching approach which involves taking cognizance and integration of influencing factors in the three areas of B-O-P, viz.,
1. Business (multiple layers),
2. Other People (internal & external).
3. Personal (Behaviour, Emotions & Thoughts)
Business coaching helps people become more effective in order to make business more effective. It can help people unlock their potential, explore possibilities outside of themselves, and in turn maximize their performance in whatever they are trying to achieve. It has emerged in recent years as a popular and effective way to develop leaders, because organizations find that it keeps them focused on the bottom line.
Coaching is not a substitute to any necessary training or upskilling that may be required or a substitute to any other necessary specialized consulting (eg. Financial, Regulatory, etc).
Business Coaching is also about enhancing and maximizing competency in the areas of Behaviour, Experience, Ability, Knowledge and Skills.
It is a Solutions Focused exercise looking forwards – not looking backwards, and it is about creating genuine wellbeing and exceptional success.
Importantly to Financiers and Corporates with regard to SMME development initiatives, a Business Coach can be a mitigating factor against typical survival risks facing new SMME’s.
A Business Coach can provide an element of security to all stakeholders supporting the SMME by following and coaching the SMME in a structured and professional way.
A qualified and competent business coach, follows a process of listening and exploration where their respective coachees: • Develop insights and awareness into their own business areas • shift from old patterns to new patterns and • find sustainable solutions to their needs. This is then followed by a guided process of setting goals and mapping out an actionable roadmap forward.
If you are interested for further information please contact Alberto
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