SAICA & ABSA join forces to help black entrepreneurs
The South African Institute of Chartered Accountants (SAICA) and Absa Small Business have launched a skills and knowledge transfer programme to black entrepreneurs.
Titled the Black Entrepreneurship Initiative (BEI), both Absa Small Business and SAICA will be able to tap into the wealth of knowledge, experience and skills amongst highly qualified Chartered Accountants [CAs(SA)]. The initiative will enable SAICA members [CAs(SA)] to mentor black entrepreneurs with various business skills in the small, medium and micro enterprise (SMME) sector.
Entrepreneurs are sourced via the Absa Small Business “Business Advantage” programme. Once the entrepreneurs and mentors have responded, they complete detailed application forms. This is then used to match up suitable mentors and entrepreneurs, in consultation with both parties.
The initiative is aimed at black entrepreneurs who have an established business with an annual turnover of between R250,000 and R3 million.
SAICA members have been recruited as mentors, and will provide 30 hours of mentorship, either individually or with the assistance of their trainees and colleagues.
According to Elizabeth Zambonini, SAICA's Project Director for Enterprise Development, this entrepreneurship initiative will focus on financial areas such as financial systems, reporting, cash flow, controls and procedures.
“I believe that the BEI programme will go a long way in providing SAICA members with the opportunity to make a difference by socially empowering entrepreneurs with the efficient business skills needed to contribute to South Africa's economic growth,” says Zambonini.
The key objective of the initiative is to provide mentorship to black entrepreneurs and their businesses, enable them to contribute towards economic growth, job creation and business sustainability, and provide a value add service to existing Absa customers.
The mentorship will be made available to 35 Absa Small Business customers over six months.
According to Daphne Motsepe, Managing Executive of Absa Small Business, the BEI is an exciting project that will provide mentorship for entrepreneurs, will provide an opportunity for SAICA members to become involved in enterprise development, and will increase economic growth for the country.
