Isibabalo Business Services and Mpendulo Savings, an NPO based in Jeffreys Bay, are working together to increase the support to local entrepreneurs and small community start-ups, a collaboration to which Jeffreys Bay Wind Farm has pledged their support.
“This is a perfect alliance, as Mpendulo Savings focuses on strengthening the economic resilience of vulnerable families and marginalised community members through savings groups, whilst Isibabalo extends this service to provide business support services to local entrepreneurs,” said Hlengiwe Radebe, Economic Development Director of Jeffreys Bay Wind Farm.
Forged out of a need for support of community business women in the Thornhill area, Isibabalo Business Services, a BEE business, together with Mpendulo Savings, are able to assist fledgling businesses to build their skills until they are strong enough to manage all aspects of business from production to market.
Isibabalo’s Managing Director, Andiswa Lubengu-Bailey, considers Jeffreys Bay Wind Farm’s funding essential to being able to sustain their operations on a full time basis and ultimately to provide essential business support to the SMME’s that they service.
“Township residents wanting to start businesses are often unable to generate enough income to give up wage employment, creating a vicious circle. Besides offering coaching, accounting, business registration and filing taxes, Isibabalo is able to act as a business incubator, offering support to community entrepreneurs,” explained Radebe.
The funds received from Jeffreys Bay Wind Farm ensures that entrepreneurs can receive professional business services that in turn help to grow more fledging businesses. Services include management coaching, accounting, registration and tax return preparation services.
“Our goal is to develop, support, promote and coach entrepreneurs who are in the Mpendulo Savings Groups network to grow profitable and sustainable businesses in coordination and partnership with Mpendulo Savings,” concluded Radebe.