SMME Booster Fund Recipients Show Signs of Sustainable Growth

Just three years after the launch of the SMME Booster Fund by the Western Cape government, small business recipients are showing signs of growth in both revenue and job creation.  

In a special visit by government officials from the Western Cape Department of Economic Opportunities and Tourism and the Gauteng Provincial Legislature, SMME beneficiaries of the Innovator Trust showcased the development their businesses had undergone and shared their experience on the incubation programme over the last year.

Booster Fund Showcase

“We have been supporting the Innovator Trust incubation programme for the last three years now. The programme has been selected as one of the Booster Fund’s best-case projects and we are proud to showcase the work that has been done with ICT SMMEs,” said Sharief Davids, Enterprise Development Specialist for the Western Cape Department of Economic Opportunities and Tourism.

The Innovator Trust Booster Fund incubation programme specifically looks for small business within the ICT sector, providing them with business development support for a period of 24 months. The scope of training includes technical skills development, sales and marketing, financial management and infrastructure support as well as ongoing access to mentorship and business coaching. 

Three beneficiaries from the incubation programme, ConnectUs, AppMania, and Arion Power, all ICT small businesses based in the Western Cape, had an opportunity to present their businesses to the delegation, highlighting their products and services and sharing their key business challenges and learnings from the programme that have been of benefit as entrepreneurs.

Success Stories

A key area of interest for the delegation was business growth and revenue among the SMMEs. “We started out selling directly to customers but we’ve since increased our sales through having our product stocked online on platforms such as Makro and Takealot.com. We have sold in excess of 10 000 units of our flagship product, the WiBox, an innovative mini-UPS plug and play product which ensures your Wifi connection stays on during a power outage,” said Themba Hadebe, Sales and Marketing Director for Arion Power.

“Since starting the business in 2019, we’ve been able to create jobs for nine young people. We have initiated a partnership with a foundation that allows us to recruit youth from surrounding townships in Cape Town,” added Brian Gadisi, Finance and Business Strategy Director for Arion Power.

Fasiha Haasan, Gauteng Legislature Chairperson of the Standing Committee on Finance, Economic Opportunities and Tourism, encouraged small business owners to remain focused on growing their businesses, creating opportunities for youth employment, wealth creation and thereby contributing to the economy.

Visit www.innovatortrust.co.za for more information on the application process to the Innovator Trust Booster Fund programme.