ABSA and Joe Gqabi Development Agency conduct SMME workshops in WSLM
Story: Samkelo Fetile | Photo: Samkelo Fetile
The Walter Sisulu Local Municipality (WSLM), in collaboration with ABSA and the Joe Gqabi Development Agency, recently hosted a series of Small Medium and Micro Enterprises (SMME) Empowerment Workshops aimed at bolstering the capabilities and sustainability of local businesses. Held recently, these workshops took place at the Burgersdorp Town Library Hall and Aliwal Library, respectively.
The purpose of the workshops was to provide high-level feedback and essential business support to local informal and small enterprises, focusing on non-lending financial and technical assistance. This initiative aligns with ABSA's commitment to fostering economic development and supporting local businesses within the Joe Gqabi District Municipality.
Focus on compliance and funding
The workshops aimed to enhance business compliance, improve access to grant funding, strengthen financial management skills, and develop robust business systems. The comprehensive sessions covered crucial topics that addressed the specific needs and challenges faced by SMMEs in the Joe Gqabi District Municipality.
In the business compliance session, participants gained an understanding of legal and regulatory requirements, including tax regulations, labour laws, health and safety standards, and environmental regulations. Practical examples and case studies illustrated the impact of compliance on business operations.
The session on access to government grant funding addressed the significant challenge of securing funding for SMMEs. Participants received detailed information on various available grants, eligibility criteria, application processes, and tips for writing compelling proposals.
Effective financial management was a key focus, equipping participants with skills in budgeting, financial planning, accounting, and financial reporting. They learned how to create and manage budgets, interpret financial statements, and use financial data for informed decision-making.
Building robust business systems was essential for operational efficiency and scalability. This session covered process mapping, workflow optimization, quality management, and technology integration, helping participants design and implement systems that streamline operations and improve customer service.
Positive outcomes and future plans
The workshops saw significant participation, with 31 attendees at the Burgersdorp Town Library Hall and 40 attendees at the Aliwal Library. The sessions were well-received, with participants expressing appreciation for the practical insights and actionable knowledge provided.
Post-workshop, participants will receive materials and resources to reinforce their learning. Follow-up consultations will be conducted to address specific business challenges faced by the SMMEs. Additionally, a comprehensive report summarizing the outcomes and impact of the workshops will be compiled.
Fernando Sandt, Coordinator of Enterprise Development, commented on the initiative's success, saying, "These workshops have equipped local SMME owners and managers with invaluable skills and knowledge that will help them navigate the complexities of running a successful business. The collaboration between ABSA, the Joe Gqabi Development Agency, and WSLM is a testament to our commitment to supporting local enterprises."
Xola Mahali, the Local Economic Development (LED) manager at WSLM, echoed these sentiments, adding, "We are thrilled to see such a positive response from our local business community. These workshops not only provided essential tools and knowledge but also fostered a spirit of collaboration and mutual support among participants. We look forward to seeing the positive impact of these efforts on the local economy."