Joburg wants to give R100 000 to Soweto’s best entrepreneurs

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The City of Joburg wants to recognise outstanding entrepreneurs in Soweto with a newly launched small business competition, offering prizes of R100 000.

The new Soweto Business Stars competition, launched in partnership with The Business Place and Innovation Hub, aims to reaffirm the city’s commitment to ensuring its people play a robust and active role in the development of its economy.

“South Africa recognises the crucial function of small businesses in growing the country’s GDP, creating jobs and fostering a world-class culture of innovation and creativity,” the city’s executive Mayor, Parks Tau said.

“However, we also recognise the many tough challenges they face, both in terms of funding and technical support. The Soweto Business Stars competition makes it a priority to address both. We look forward to seeing the innovation businesses and fresh ideas that emerge from this competition,” he added.

There are five categories of entry in Soweto Business Stars:

  • The Rising Star: This is aimed at entrepreneurs with new and market-ready business ideas
  • Service Superstar: This category is for businesses that have introduced innovation in the services they deliver or the way they meet their customers’ needs
  • Technovator: This is for businesses using technological or process innovation to achieve business success
  • Social Revolutionary: The category is designed for community-oriented businesses approaching specific challenges in an original way to ensure the community benefits from its business success
  • Zero to Hero: This is meant for businesses that have turned around a low-growth or loss-making business into a profitable venture

Winners in each category will win R100 000 and the competition’s overall winner will receive an additional R75 000.

In addition to cash prizes for the winner in each competition category, the top 20 entrants will be invited to participate in an exclusive business development support programme designed specifically for Sowetan entrepreneurs.

To qualify for entry, you must be over 18, be operating in Soweto, be able to prove that the business is at least 51% owned by a South African citizen living in the township and have valid BBEE status.

Entries close on 13th June, you can download an entry form from the Soweto Business Stars website.

[Source and image – City of Joburg]