Locally-developed online incubator looks to increase SA SMMEs’ success rate. SME start-ups
With more than 71% of SMMEs said to fail within the first year, start-up advisor Heike Kannemeyer has created an online incubation initiative that seeks to change this., the online incubator went live last week, to give aspiring entrepreneurs and existing business owners the tools to support their business journey.
“Starting, maintaining and growing a business is challenging,” says Kannemeyer. “The moment you step away from corporate, you need to be ready to accept the responsibility of maintaining your profitability. For many, this can impact how they provide for their households and manage their and others’ livelihoods.”
Kannemeyer indicates the small business boom witnessed both locally and abroad, and being aware of SA’s “notorious SMME failure rate” fuelled her to develop the initiative. “The programme was created for people serious about investing their time in equipping themselves and learning how to navigate their new business venture.”
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