In recognition of Youth Month, SmartXchange in Port Shepstone came up with a great idea, “Connect With My Biz” to build awareness of the SmartXchange incubator, start-ups and the business community.
The organization has identified the need for dialogue and affirmative action to address the challenges faced by young people in South Africa to participate effectively in the economy.
The event provided an opportunity for young people and business participants to explore the facilities of the SmartXchange, meet and network with other small, medium and micro-enterprises (SMMEs), strategic partners, customers existing and potential.
Fatima Moolla, Center Director of SmartXChange, said she wanted to bridge the gap between small businesses, funding agencies and local businesses through networking and information sharing.
“For those of you who are unfamiliar with SmartXchange, consider us a university where SMEs have the best opportunities to grow and succeed in their endeavors in the media, information technology and communications, electronics and the arts, a place where you are nurtured and provided with the necessary support and infrastructure that will allow your business to grow.
She added that as South Africa grapples with rising unemployment, crime and other ills, SmartXchange hopes this event can attract more young people into the economy through entrepreneurial economic activities. and innovative.
Dr. Anitha Ramsuran from the Agency for Technological Innovation explained the different funding programs to support innovative projects relevant to townships and the rural economy.
Nonhlanhla Shibe of the National Youth Development Agency (NYDA) said the agency is designed to provide opportunities for young entrepreneurs to access financial and non-financial business development support to enable them to start or grow their business. He talked about the different requirements that are essential for funding applications to be approved.
Sibonelo Ndlovu from the South African Revenue Department addressed the impact of tax compliance for SMEs. He talked about the importance for SMEs to be tax compliant and outlined all the compliance requirements and explained why there are sometimes issues. He also highlighted the need for financial literacy empowerment.
Rhulane Ngoveni, Project Specialist from the Small Enterprise Development Agency (SEDA), discussed her role in supporting small businesses. Other speakers gave encouragement and added that there is support for small businesses.
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