Press Release: Offering SMMEs affordable funding
POSTED ON: May 31, 2022 IN by Admin
Enterpriseroom Press release: Offering SMMEs affordable funding
31 May 2022
While small, medium, and micro enterprises (SMMEs) face a number of challenges, it is evident that financing is still a major stumbling block for many entrepreneurs and small businesses.
“Business Leadership South Africa (BLSA) and the United States Agency for International Development (USAID), through their Beyond Advocacy Fund (BAF), have partnered with Enterpriseroom on their Township SMME Development programme to create opportunities for SMMEs through affordable funding,” says Olivier Serrao, executive of strategy at BLSA.
He says BAF represents the South African private sector’s aspiration to move “beyond advocacy” and towards deeper public-private dialogue and cooperation to jointly address strategic socioeconomic challenges facing the country.
Enterpriseroom is a transformation and business growth consultancy. It is dedicated to achieving socioeconomic transformation by starting, sustaining, growing and developing small and medium-sized businesses.
Through BAF, Enterpriseroom’s Township SMME Development programme aims to source finance from different partners to provide a blended financing product to SMMEs that is affordable and focuses on driving growth and sustainability. The programme was initially established in November 2021. Enterprise Room is currently sourcing SMMEs from underserved and underdeveloped regions.
“After identifying these SMMEs, their needs will be assessed with respect to market access, business knowledge and their specific financing requirements. Based on these needs, the SMMEs will be supported and developed so they can access funding that will maximise business performance and build business sustainability for the long term,” says Niall Gahan, head of the Enterprise Fund at Enterpriseroom.
He adds that the programme is in its initial phases, but during this year it aims to support approximately 50 SMMEs and provide financing to about 40.
“BAF is a very important partner that shares the same vision as Enterpriseroom. We are ecstatic that it is committed to supporting the programme through its funding of the pre-investment development of SMMEs,” says Gahan.
BLSA CEO Busisiwe Mavuso says that BLSA understands the vital role that SMMEs plays in the economy. “The organisation looks forward to witnessing the opportunities and growth of the SMMEs that will be assisted by this programme,” she says.
For more information, please contact please contact Tumelo Muteme at firstname.lastname@example.org
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