Small to Medium Sized (SME) development entity, Shanduka Black Umbrellas (SBU), has entered into a partnership with the eThekwini Municipality to bolster small scale entrepreneurship in and around the city of Durban.
The two organizations have signed a memorandum of understanding for collaboration. The initiative is launched at the back of a growing profile and role of SBU which was set up to help 100% black owned SME’s.
The partnership seeks to grow sustainable businesses that are able to provide quality products and services to both the public and private sector.
The eThekwini Municipality is set to refer suitable applicants to SBU for incubation and also create a platform for facilitating financial support.
SBU CEO Mark Frankel said “We have been very pleasantly surprised by the strength of the entrepreneurship eco-system within Durban, both in terms of the significant support provided by organisations in the city, particularly the eThekwini Municipality, and the quality of the emerging businesses within the region. We’re very excited about the partnership with eThekwini – the resultant learnings we can share and benefits that can be provided to the Durban small business community”.
SBU, an affiliate of Cyril Ramaphosa’s Shanduka Group, runs a small business incubator program. It provides for selected beneficiaries subsidised infrastructural support, on-going mentoring and training as well as access to markets. It has incubators in Cape Town, Durban Johannesburg and Pretoria. It began operating in Kwa-Zulu Natal in 2011 and already has 15 businesses in its Durban incubator. The Durban incubator is located at the SmartXchange Building, 5 Walnut Road, Durban. Contact 031 327 3200/1.
The Ethekwini partnership will see SBU link up with the Ethekwini Business Support Unit