The SMMEs will also get the opportunity to pitch their business for potential grants or interest-free loan funding.
Frederik Zietsman, CEO of Takealot.com comments, “SMMEs are critical to addressing many of South Africa’s socio-economic challenges, from helping to create inclusive business growth to job creation and transformation. But this is only possible if the right conditions are created for these businesses to grow and thrive.
“We are deeply passionate about SMME development and recognise the need to act now to support Black entrepreneurs to ensure their future success. Through the Takealot Marketplace Business Accelerator Programme, we are committed to playing an active role in promoting an inclusive digital economy.”
According to the World Bank’s International Finance Corporation’s MSME Opportunity in South Africa 2019 report, the small business sector employs between 50% to 60% of South Africa’s workforce. Despite being the backbone of the country’s economy, they often remain the most vulnerable, especially as South African businesses continue to battle with ongoing inflation increases and electricity woes.
With the aim of building an inclusive digital economy, Takealot says it's committed to scaling and growing this Business Accelerator Programme year on year to play an active role in promoting entrepreneurship and creating opportunities for all.
“In the past year alone, Takealot has onboarded over 3,000 new businesses - a testament to the empowering value of the marketplace platform. We believe the Business Accelerator Programme embodies the sort of initiatives that will help drive our country forward. Because supporting SMMEs to grow their own business is one of the best ways to ultimately help South Africa’s economy succeed,“ concluded Zietsman.
Applications to the Takealot Marketplace Business Accelerator Programme are now open and will close on 24 February 2023. Takealot Marketplace sellers can apply here.