KBL ENCOURAGES SMMES SMMEs are critical to economic growth through the linkages and complementarities they provide to the industrial sector whilst also helping to improve competitiveness in the local economy, says, a press release from Kgalagadi Breweries Limited (KBL). The release, signed by the company’s corporate communications manager, Mr Mokoro Ketsitlile, stated that SMMEs played the entrepreneurial role of providing for the specific needs of local consumers, large business and corporates, Mr Ketsitlile said the SMMEs helped create jobs thereby improving local incomes and the welfare of young entrepreneurs. In addition, it noted that it was often regaled how Botswana’s future economic prospects and the diversification of the economy rested heavily upon the development and promotion of small and medium enterprises (SMME’s). However, at KBL, through their social investment arm, Kgalagadi Beverages Trust (KBT) had been running an entrepreneurship programme KickStart since 2004 through which they effectively provide business skills training, monitoring, mentoring, and seed capital to young entrepreneurs. The KickStart competition is for young Batswana aged between 18 and 35, and encourages them to take the initiative to transform their fledgling business ideas and activities into thriving and self-sustaining business enterprises. KBL corporate communications manager said, “through KickStart, we have been able to augment the ways that KBL benefits local communities as lasting force”. KickStart further demonstrated how the private sector could help in driving socio-economic national imperatives without compromising their core business mandate, said Mr Ketsitlile. When launching the revamped KickStart program that marked 10 years of KickStart in January this year, KBT increased the amount of grant capital provided by KickStart from P100, 000 up to P250, 000. KickStart beneficiaries continue to benefit from business coaching and mentoring as part of the package for a 1-year long period, said Mr Ketsitlile. KickStart applicants need to satisfy several stringent conditions such as viable business ideas that can create employment and generate sustainable income streams, whilst helping to diversify the economy. Upon submission, applications are carefully reviewed and business skills training is provided to the most promising business concepts. Through the KickStart training, short-listed applicants are assisted to develop business plans, trained in finance, preparing income projections, cash flow statements, marketing, and market penetration, amongst others. KickStart uses independent experts from the wider business community to act as judges in order to ensure that a diverse range of perspectives regarding applicants are considered in a manner that ensures the utmost levels of transparency and governance. Over the past decade, KickStart has availed over P10 million in grants, making it one of the largest private sector entrepreneurship development projects in Botswana. To date, KickStart has trained over 140 young entrepreneurs, enabling more than 35 small businesses to be set up across various sectors of the economy.(BOPA)
Posted on: Thu, 23 Oct 2014 13:10:00 +0000
Trending Topics
Recently Viewed Topics
© 2015