The R6-million grant funding youth entrepreneurship competition, SAB KickStart 2014, has opened for entries to entrepreneurs between the ages of 18 and 35.
Started in May 1995, it is one of the longest youth entrepreneurship programmes and has assisted with the start-up of more than 3500 businesses.
Entrants selected to participate in the 18 month-long programme stand the chance of winning a share of R6-million worth of business support, including an international business learning trip.
It follows a competition model and provides youth entrepreneurs running small businesses with a comprehensive package of business development support to increase the chances of building sustainable and high impact entities able to contribute towards job creation. In 2013, its 14 national finalists created more than 60 jobs within their respective communities.
The business development support package includes business skills training, a business development strategy, grant funding and personalised mentorship. "Providing this comprehensive business support we believe can make a significant contribution to growing high impact businesses that are sustainable beyond the normal failure period of three years," says Boipelo Nkadimeng, SAB head enterprise development and community partnerships.
Business skills training
The recruitment phase selects 60 entrants who are provided with intensive business skills training over a period of two weeks. This takes place in Johannesburg between July and August 2014. During this training, participants are shown how to develop an effective business plan.
An independent adjudication panel selects the best of these plans and entrepreneurs go through to final and national stage of the competition. An in-depth needs analysis of each finalist business is undertaken and this determines the design of a business development strategy, grant funding and customised mentorship.
Entries into the competition close midnight on 30 May 2014 and SAB will invite successful candidates to a selection interview.
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