From acorns grow mighty oaks

South Africa has seen small to medium enterprises (SME) flourish over the years to become major players in the country's growing economy.

South Africa has seen small to medium enterprises (SME) flourish over the years to become major players in the country's growing economy.

SMEs need strong background support, finance, technology and other factors to keep them healthy and to enable them to grow.

As one of the major roleplayers in the development and promotion of entrepreneurship among the youth, Umsobomvu Youth Fund offers a strong business support service to help budding entrepreneurs who have bought into, or who have a wish to start or expand, successful and sustainable enterprises.

With SME funding the organisation is able to provide entrepreneurs with SME loans ranging from R100000 to R10million, while micro loans range from R1000 to R100000.

Other support services for SMEs include programmes such as the Volunteer In Action Youth Enterprise Mentorship Programme, which target such enterprises.

Recently Umsobomvu appointed Herman Mashaba, founder of Black Like Me cosmetics, as patron of the mentorship programme with the aim of luring more influential businessmen and women to share their expertise with their young counterparts.

Because technology, accounting and marketing are some of the important factors contributing to the success and growth of an SME, Umsobomvu, through its business consultancy services voucher, gives entrepreneurs access to technical and managerial support.

This service is provided by accredited professionals and includes business registration, business plan development, and accounting and bookkeeping.

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