Fri Oct 21 18:50:16 SAST 2016


By Lihle Mtshali | Sep 23, 2009 | COMMENTS [ 0 ]

A NEW body to assist South Africa's young entrepreneurs start up and grow their businesses will be launched in November.

The Young Business Society is the brainchild of Phumlani Zuma, President Jacob Zuma's nephew, and boasts some of the country's most prominent political names on its board including Tselane Tambo and Cleopatra Hani. Zuma is the president of the YBS.

The 22-year-old Zuma, who cut his business teeth at the tender age of 14, said he had come up with the idea for the society because of the challenges he encountered while setting up his own events management venture.

"Starting a business is like having a baby. If as a parent you can't provide for your child you feel helpless and useless. As a business owner you want to see your small business grow," said Zuma.

The YBS will offer mentorship programmes; help members to access finance and link them with local and international big business for joint ventures.

It has been engaged in partnership talks with the Trump Foundation in the US and Zuma said the talks were "looking good".

He said young people could not turn to government for help with their business ideas because it had "tried something similar to the YBS and failed. So we need an organisation that has been formed by young entrepreneurs and is run by them."

The society is backed by business people such as Sandile Zungu, Vivian Reddy and Dr Anna Mokgokong.

The YBS can be contacted on its website, which will be up next week.


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