The initiative is launching in March and will give entrepreneurs a platform to pitch their businesses and win prizes that will assist in developing their businesses.
Karabo Sekgale shares more about the initiative...
MyBiznezz Pitch was founded in 2020 under a newly established PR company called The Rural Hub Communications based in the rural areas of Ga-Modjadji, Bolobedu in Limpopo Province.
The initiative was founded by Karabo Sekgale and Lerato Mathye both of whom own the PR company. MyBiznezz Pitch is an entrepreneurship pitching competition focusing on advancing rural and local entrepreneurs in Bolobedu, Limpopo as a way of supporting and encouraging the spirit of entrepreneurship in rural areas. Entrepreneurs will send a summary of their businesses and top promising entrepreneurs will be shortlisted to compete in a business pitch where the panel will select the winners of the competition and award them prizes.
The initiative was developed in February this year and we are hoping to host our first event during Entrepreneurship Week in November.
Bolobedu is under both Greater Letaba and Greater Tzaneen Local Municipality with young people between the ages of 14-35 constituting over 40% and with more than 45% of youth unemployment. In addition to youth unemployment, we also have limited resources and facilities that support young people where upskilling and entrepreneurship is concerned.
As a result, we decided not only to start a company but also start an initiative that will speak to the challenges faced by young entrepreneurs in our area being lack of funding and resources. Through the initiative, we hope to empower local entrepreneurs and help them grow to create employment for other skilled young people in rural areas.
The core function of the initiative is to provide a platform for entrepreneurs in the rural areas of Bolobedu, to pitch their businesses to a panel with the hope of them winning prizes that will help develop their businesses and also provide them with guidance and information regarding how to penetrate new markets and how to manage their business financially. We hope to partner with government institutions such as SEDA.
Some of the obstacles include not having access to the right people who can come on board to assist us to make this initiative a success as we don't only want to focus on active entrepreneurs but also encourage aspiring entrepreneurs through this initiative. Therefore we call on local government and local businesses in Tzaneen and Modjadjiskloof to come on board so that we can travel this journey together of creating a healthy environment where local entrepreneurship can thrive in the rural areas.
We would like to tell them to first get an education in entrepreneurship or get a mentor who can advise them on business processes and for them to seek for information from relevant institutions on how to register a business and how to get grants to support the business. They must always be willing to learn and be open-minded as learning is a great way of achieving your goals.
For us, the future of entrepreneurship looks bright as we believe it's entrepreneurship that can save our ailing economy and reduce youth unemployment in our country. We see a lot of businesses owned by young people do well and growing to new heights every year and it's those entrepreneurs who are hiring our unemployed youth year in and year out.
The importance of this initiative is to plant a seed of entrepreneurship in the minds of young people in our rural areas, to support active entrepreneurs by giving them tools to continue succeeding and change the landscape in Bolobedu by bringing innovative ideas to the table.
We would like to see more startups being assisted with regards to funding, information and training especially in marginalised communities and not have too many red tapes which make it extremely difficult for young people to start their own businesses.
We believe that an entrepreneur should have the following traits to be successful: Courage, be a risk-taker, consistent, persistent, confident, skilled, educated and well informed.
