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  • Business
    Small-scale farmers and livestock SMMEs in the North West are calling for urgent action to safeguard their businesses and livelihoods, after years of grappling with escalating crime and inadequate support.

    SMEs call for solutions as crime wave bites

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    Eskom’s business connect powers up SMEs

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    Banana Bunchy Top Virus threatens farmers and jobs

    The commitments made at the recent G20 Tourism Ministers’ Meeting in
Mpumalanga could open new opportunities for tourism SMMEs in Southern Africa,
according to entrepreneurs in neighbouring Eswatini.

    Eswatini tourism SMEs eye G20 opportunities

    South Africa's first-ever G20 Tourism Hackathon Challenge has put the spotlight on
how technology can transform the country's tourism landscape and, crucially, how it
could open new doors for small businesses in rural and underrepresented
communities

    Youth tourism tech innovations hold promise for small businesses

    Itumeleng Seleke, CEO and operations manager of Nomusa BNB (Pty) Ltd in
Richards Bay, said the government’s push on destination marketing offers a chance
to diversify offerings and attract more visitors.

    Tourism plan brings fresh hope for small businesses

    City of Tshwane Mayor Dr Nasiphi Moya

    Tshwane turns empty properties into SME hubs

  • Agriculture
    Small-scale farmers and livestock SMMEs in the North West are calling for urgent action to safeguard their businesses and livelihoods, after years of grappling with escalating crime and inadequate support.

    SMEs call for solutions as crime wave bites

    According to industry estimates, ASM contributes R30–40 billion annually to the economy, yet most of this activity remains undocumented.

    Small scale miners await outcome of new mining bill

    Village tea crafters head to world’s largest food trade fair

    Banana farmers face a growing threat from Banana Bunchy Top Virus in Kwa Zulu-Natal

    Banana Bunchy Top Virus threatens farmers and jobs

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    South Africa and Brazil have signed a landmark Memorandum of Intent to boost agricultural cooperation.

    South Africa and Brazil partner to strengthen agriculture

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    Small scale fishing permit holders are struggling against undocumented competitors. Photo. Mukurukuru Media

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    Innovators in race for $100,000 Mandela Rhodes Foundation prize

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    Varsity student Owethu Ndzabe has opened a car wash

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  • Finance
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    DTIC Minister Parks Tau is inviting business people and related stakeholders to submit their views on proposed new draft regulations. Photo. DTIC

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    Gauteng’s budget offers strategic investment in SMEs

    South African National Parks, in partnership with Sanlam, offers an interest-free loan program at Table Mountain in Cape Town. Photo: Facebook.

    More businesses to benefit from SANParks loan deal

    Finance Minister Enoch Godongwana

    R402 billion budget could open doors for construction SMEs

    Small Business Finance Development Agency has helped an entrepreneur to secure funding to invest in a filling station. Pic: Shell

    Franchise funding for entrepreneurs

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    Limpopo Budget: hope for small businesses

    GEP deputy chairperson Phosane Mngqibisa

    Gauteng increases support for small businesses to access funds

  • Tourism
    The commitments made at the recent G20 Tourism Ministers’ Meeting in
Mpumalanga could open new opportunities for tourism SMMEs in Southern Africa,
according to entrepreneurs in neighbouring Eswatini.

    Eswatini tourism SMEs eye G20 opportunities

    South Africa's first-ever G20 Tourism Hackathon Challenge has put the spotlight on
how technology can transform the country's tourism landscape and, crucially, how it
could open new doors for small businesses in rural and underrepresented
communities

    Youth tourism tech innovations hold promise for small businesses

    Itumeleng Seleke, CEO and operations manager of Nomusa BNB (Pty) Ltd in
Richards Bay, said the government’s push on destination marketing offers a chance
to diversify offerings and attract more visitors.

    Tourism plan brings fresh hope for small businesses

    G20 Tourism Ministers Summit has opened new opportunities for SMEs

    Tourism Investment Summit unveils R1bn in new projects

    Minister of Tourism Patricia de Lille noted  that SMEs are the backbone of the industry.

    SMEs pin hopes on G20 tourism priorities

    Bead makers are hoping to cash in on the abundance of cultural events during Heritage Month. 
Photo: Lucas Ledwaba/Mukurukuru Media

    Bead makers look to cash in on Heritage Month festivities

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    Tourism strategy shift gives SMEs new hope

    Statistics show that more than 79 000 tourists from China visited the country in 2023/4.

    Mandarin training could give local tourism business the edge

    SMEs in the tourism sector in Eastern Cape are set to benefit from SanParks incubation program

    Tourism SMEs to benefit from Sanparks incubation initiative

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Big companies must support tech startups

by Tebogo Mokwena
October 13, 2022
in Business
Reading Time: 4 mins read
A A
Petra Rees, who is the CEO and founder of edutech startup WhyToyz

Petra Rees, who is the CEO and founder of edutech startup WhyToyz

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Large companies in South Africa should be incentivised to buy from tech startups, particularly those owned by women, according to Petra Rees, who is the CEO and founder of edutech startup WhyToyz. They should also not be afraid of risking it all by trusting startups in the tech space. Rees was part of a three-women panel at the second annual Women Economic Assembly (WECONA) Conference. It was a two-day event hosted to engage industry leaders to set gender transformation targets in each industry and establish game-changing interventions that increase procurement from women-owned businesses.

WECONA was launched by President Cyril Ramaphosa last year, and this year’s theme was “Gender-responsive value chains for a resilient economy”. According to Rees, it was not easy for South African startups to break into markets. “Where I found it difficult in terms of tech startups in South Africa is that in comparison to China, Europe and America, in South Africa you have to sell to larger corporates because they have a 60% to 70% share of the market, whereas small businesses have about 25% to 30% of the market,” she said.

“In other countries, 80% of their economy is controlled by SMEs, and it is easy for startups in tech to grow in these kinds of environments,” Rees said that corporations must be incentivised so that they can see the value of tech startups and tech companies in their businesses. “Procurement doesn’t know that technology can solve some of their problems, and human resource (departments) don’t know that technology can solve some of their problems as well,” she said.

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“The question is how we get these decision-makers to be incentivised to be buying more from tech startups and tech companies,” Rees said for her business to break into the market, she had to get creative. “Finding the markets where we could sell our solutions to was very difficult because it was not possible to knock on big companies’ doors and ask them to pick us,” she said.

“We started by tapping into markets with low barriers of entry, and in our case, it was the educational sector. “Then we proved our concepts, tweaked our technology and we got better at it, and even in that regard you still get companies asking if you can really do it, especially as a woman.” WhyToyz aims at unlocking the creative potential of children by using exponential technologies, with a deep focus on 3D printing. The 3D printing platform houses over 300 unique designs prepared by experts to promote problem-solving, analytical thinking, math and planning skills, innovation and creativity.

Pitsi Mnisi, who is the co-founder of MCorp Investments and a member of  Dazzle Angels, which generates inclusive funding for early-stage women-led and women-empowering businesses, told the conference that the country needed more angel investors. Angel investors are generally wealthy private investors focused on financing small business ventures in exchange for equity. Unlike a venture capital firm that uses an investment fund, angels use their own net worth.

“We need to create a culture of providing early-stage development which comes after the entrepreneur has put their own money and has run out of it,” she said. “If we are to activate entrepreneurship, we need investors not to be scared and understand that entrepreneurship is a catalyst to employment in South Africa.”

Tags: Edutech startupPetra ReesWhyToyz
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