LEPHALALE — Shanduka Black Umbrellas (SBU) held their fourth Regional Annual Awards on Thursday 25 May at Palm Park hotel.
The SBU enterprise development awards look at entrepreneurs who are currently undergoing a three year incubation programme and making a positive impact in society.
SBU Inland General Manager Precious Tshabalala outlined their expectations from entrepreneurs currently under incubation.
They had to achieve a positive turnover annually and a positive net asset value as well as to pay market related salaries to workers.
She said these awards are hosted throughout the country to award top performing businesses in the programme, to recognise the support of donors, mentors and shareholders.
“The regional awards culminate in annual national awards, where overall national winners will be recognised. Whoever won in Lephalale will be drawn for national awards, only if they adhere to compliance. All businesses have to comply to the criteria; from attendance, meeting sustainable criteria, participation in the incubation, profitable turnover as well as paying workers a market related salary” said Tshabalala.
354 jobs have been created since SBU inception in Lephalale in 2014.
Out of the R135 million turnover, R40 million in salaries was paid, with a positive net asset value of R82 million from businesses mentored and incubated by SBU.
In the awards categories:
Most jobs created award went to Hula Minerals Processing;
Best performing company award went to Debar Ceramics; and
Best SBU Ambassador Award went to Setumishi Building and Construction Enterprise.
Tshabalala encouraged entrepreneurs to sustain their businesses and not misuse capital even after graduation in the incubation programme.
She announced that SBU Lephalale branch was Incubator of the Year 2016 and Exxaro was the best stakeholder supporting Small Medium and Macro Enterprises (SMME).