The purpose of the programme, second of its kind (the previous one ran in 2016/2017) is to strengthen these small businesses to become ‘Funder ready’. Through the Finance Coaching, Accounting and Back Office Support, The Hope Factory aims to influence the financial behaviour of the beneficiaries so that they can have up to date accounts and better financial management practices which will help them attract future funding.
“Says Kitumetsi Ntombela, ED Specialist, “Transnet Pipelines as a division of Transnet, are proud to be partnering with The Hope Factory and SAICA Enterprise Development once again to participate in a project focussing on business owners living with disabilities. This includes Transnet’s vision of providing support to SMMEs that will play a critical role in driving our economy forward by creating jobs and alleviating poverty. We look forward to seeing the positive impact on these SMMEs and know their journey will be very rewarding.”
Impactful training and development
Although this programme will largely be focused on financial excellence, there will also be impactful and necessary elements of business skills and leadership skills training which includes SETA accredited courses.
“The 10 SMMEs have commenced with the first development intervention of financial coaching. These sessions are extremely crucial in making sure that our beneficiaries are empowered and in the best position to make sound business and operational decisions. It is great to see the excitement, energy and passion from the beneficiaries about this programme and the excitement from our SAICA CA(SA) Small Accounting Practice partners in engaging with the SMMEs, “says Mandisi Nombembe, Project Manager at The Hope Factory.
The Hope Factory has successfully implemented this type of intervention since 2012with the results on average over the last three years being:
About The Hope Factory (THF)
THF is a Non Profit Company (Reg. No 2004/006858/08) established in 2001. THF falls under the Nation Building division of the South African Institute of Chartered Accountants.
THF has extensive experience in understanding both the development needs of entrepreneurs seeking access to market opportunities in the mainstream SA economy and the challenges faced by organisations in both public and private sectors in integrating Black-owned and Black women-owned businesses into their value chains.
