Wed Oct 26 07:52:32 CAT 2016

Mashaba to mentor new blood

By unknown | Feb 06, 2008 | COMMENTS [ 0 ]

Xolile Bhengu

Xolile Bhengu

THE Umsobomvu Youth Fund has roped in veteran businessman Herman Mashaba to head its business mentorship programme.

Umsobomvu formally launched its two-year-old Volunteers in Action programme yesterday and named the Black Like Me founder as its patron.

The programme offers support for youth and female-owned businesses and seeks to curb the trend of failure of start-up businesses in their first two years.

Umsobomvu said six out of 10 businesses failed in the first 18 to 24 months of starting.

Malose Kekana, Umsobomvu's chief executive, said: "The failure rate of start-ups remains too high, and most entrepreneurs do not have the capital to pay for business consulting fees.

"The initiative provides support and encouragement to young entrepreneurs.

"It is also a tool to evaluate business successes and failures - in order to see where further developments could be made," Kekana said.


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