FNB, Fetola open functions for SA-based social entrepreneurship programme

South Africa’s FNB and enterprise development specialists Fetola have opened functions for the 2021 Social Entrepreneurship Impression Lab (SEIL) programme, which is able to speed up the expansion of fifty South African social entrepreneurs desirous to scale their enterprise fashions and enhance their funding readiness.

Working for the second yr in a row and organised by FNB and Fetola, the SEIL programme helps the expansion and funding potential of organisations which can be tackling social, environmental and financial points in South Africa.

The 18-month programme is break up into two phases. In the course of the preliminary 12-months, entrepreneurs get entry to focused and sensible enterprise development help together with an introduction to funding readiness. Twenty excessive potential enterprises might be chosen from the unique 50 to obtain additional funding readiness help throughout the six-month second section.

Ashleigh Sibanda, programme supervisor for enterprise incubation at Fetola, stated social entrepreneurs wanted help and steerage if they’re to succeed, with greater than 50 per cent of them having lower than 5 years of related expertise earlier than beginning their enterprises and thus needing mentoring and training from extra skilled entrepreneurs who’ve negotiated the fundraising panorama. 

“In my expertise, in addition they usually need assistance with refining their worth proposition, testing operational assumptions, strengthening their enterprise mannequin and bettering funding readiness,” she stated.

“Furthermore, they want help with enterprise fundamentals comparable to strategic planning, constructing their costing and pricing mannequin, growing their gross sales and advertising and marketing technique, pitching in addition to management and other people administration. Most significantly, they want introductions to potential companions and finance suppliers. All too usually these entrepreneurs are left to fend for themselves, making it unsurprising that 70 per cent of small to micro and medium enterprises in South Africa fold inside the first 5 to seven years.”

Purposes for SEIL 2021 are open right here till Wednesday, November 24.

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