SAB Kickstart Alumni Invited To Enter Remodelled Youth Entrepreneurship Programme
Tuesday, June 2nd, 2015
The SAB youth entrepreneurship programme, SAB KickStart Boost 2015, has extended entry into the competition to young business owners who participated in the programme prior to 2015.
As a result of this change, the closing date for all entries into SAB KickStart Boost has been extended to 10 July 2015.
The decision to call on SAB KickStart alumni to apply to participate in SAB KickStart Boost will allow them to access the new non-collateral loan fund element of the competition, as well as benefit from the business development support and intensive business mentorship.
“We had to extend the closing date to accommodate numerous requests from former KickStarters that have either started new businesses or require growth capital to expand existing businesses. Also, we know that entrepreneurs have multiple lives, and that refinancing of experienced entrepreneurs is necessary” says Mpho Sadiki, SAB Head Sustainable Development and Transformation.
Entrepreneurs who operate within key industries are invited to enter the competition. The core SAB KickStart Boost industries are those identified at a national level by government as having the greatest potential to create jobs at the level required to lower the country’s unemployment rate, include Agriculture and Food Processing, Renewable Energy, Mining and Minerals and Construction.
Participation of businesses in SAB KickStart Boost is dependent on several factors including:
- Aligned with core industries and sectors (Agriculture and Food Processing, Renewable Energy, Mining and Minerals, Construction, Health, ICT, Science and Electronics, Automotive, Transport, Chemicals, Plastics, Pharmaceuticals and Cosmetics, Tourism, Arts and Crafts, Metal Fabrication, Textiles, Clothing and Footwear)
- Operational for a minimum of 18 months and not more than 5 years
- Post revenue stage (sales made and concept proven)
- Generating less than R5 million in revenue per annum
- Employ a maximum of 15 employees (temporary or fulltime or a combination)
- At least 50% black owned and managed
- High growth potential that is scalable, with a sustainable competitive advantage
SAB KickStart, which celebrates 20 years of nurturing youth-owned businesses and entrepreneurs, refreshed the SAB KickStart Boost to target youth businesses within key local industries that have the ability to create high volumes of jobs.
Our commitment towards youth enterprise development is aimed at supporting the emergence of strong and sustainable businesses able to make a valuable contribution to the country’s economic transformation. This will be done by providing a combination of support including business skills training, business development support, mentorship and grant capital, as well as low interest seed capital loans.
ABOUT SAB KICKSTART
SAB KickStart was developed in May 1994 as a poverty alleviation programme which later supported the development of youth entrepreneurship.
Some of the SAB KickStart’s successes over 20 years include supporting, at a total investment of over R90-million, 24 558 entrepreneurs and the creation of 3 458 youth-owned businesses which have each created an average of 6.7 jobs.
The comprehensive support afforded to participants by SAB KickStart has ensured the survival of many start-ups which ordinarily have short lifespans. According to an independent impact study done in 2013, at least 84% of all businesses which participated in SAB KickStart were still in operation after three years.