SMMES BLUNDERS AND BUNGLES SUMMIT

The Gauteng provincial government will tomorrow host an SMME’s Blunders and Bungles Summit to determine how government programmes and interventions can prevent high failure rate of small businesses.

The summit is being organized by the Gauteng Enterprise Propeller (GEP), an agency of the Gauteng Provincial Government, to establish directly from SMME’s what blunders and bungles can be attributed to their failure despite government’s financial and nonfinancial interventions.

Economic Development, Environment, Agriculture and Rural Development MEC Lebogang Maile, whose department is responsible for the GEP, will deliver a key note at the summit. The summit will also feature experts from various economic sectors such as manufacturing, services, tourism, ICT, construction and entrepreneurship development.

Major private companies such as retail giant, Pick n Pay, will be represented at the summit.

The GEP has since inception in 2005, funded in excess of 47000 SMMEs. Some SMMEs received business development support, which included training, mentorship and incubation, whilst others were awarded cash injection; however, they still remain unsustainable, and fail to honour their loan commitments.

The information gathered through the Summit will be used in part to improve GEP’s product offerings with a view of assisting funded SMMEs to repay loans and reduce SMME failure rates.

Details of the Summit are as follows:

Venue: Turbine Hall, Newtown, Johannesburg

Date: 30 June 2016

Time: 08h00 am

 

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