SEDCO is encouraging businesses that fall under the category of MSME to enrol in its business incubation programme. This programme aims to grow entrepreneurs through an array of business support resources and services.
Business Incubation assists start-ups and early-stage businesses with various resources in their formation stage to grow to a level where they can stand on their own. The programme provides affordable workspaces that are customised to suit different types of businesses, a connection to strong networks of business partners, and business support services that are facilitated by Business Counsellors.
According to SEDCO’s Business Incubation Manual, to be accepted into the programme, all applicants must apply by filling out an application form and submitting a business plan and both documents will be reviewed by a selection team which includes the Senior Manager of Business Incubation, a Business Counsellor and Maintenance Officer.
SEDCO’s Estate Manager, Mr Andreas Tsabedze emphasises that it is important for applicants to understand the selection criteria and comply with the requirements.
“As stated in the Business Incubation Manual, the most important thing that we focus on when we review applications is that the organisation must be a for-profit firm producing products or services for the market, which makes it clear that we don’t incubate non-profit organisations,” said Tsabedze.
Tsabedze added that it is also very important that the applicant can demonstrate that the business venture being pursued will be sustainable; by generating a sustainable cash flow and making a profit. “The ability to make a profit is the main thing because we want the businesses to grow. We are looking at growing a micro business into a small business, and a small business into a medium enterprise, basically the main goal for us is to grow MSMEs through development and promotion” said Tsabedze. He also stated that it is important for entrepreneurs to understand that the programme is only for businesses that are in the early stage of development, at most within the first two years of business operations.
Summary of Selection Criteria
- Be a for-profit firm producing products or services for the market.
- Be in the early stage of development as a business or at most within the first two years of business operations, and must be within the micro and small-scale business categories.
- Show ability to make a profit and show a sustainable cash flow.
- Present a management team that could handle the technical aspects of the business or understand how to source needed technical assistance.
- Identify a product, technology, or service that, through SEDCO’s assistance, can be developed into a successful business.
- Have the potential to generate economic benefits by creating jobs and wealth.