Jack Janse van Rensburg, director of The Investment House, is focusing on growing the SME sector through sustainable empowerment and facilitating smart business partnerships.
- Company: The Investment House
- Contact: +27 (0)12 259 0057
- Email: email@example.com
- Visit: www.theinvestmenthouse.co.za
Why are you in the B-BBEE business?
I am an entrepreneur with all my heart and passion; I enjoy seeing businesses flourish, people prosper and countries develop. No matter what colour, culture or gender you are, every one of us contributes with their successes as well as their failures to South Africa’s economic and social wellbeing.
Related: The 5 Elements Of BBBEE
B-BBEE has many critics, mainly stating that B-BBEE has not achieved what it promised: Economic Empowerment. What do you think could be the cause?
B-BBEE has two main objectives:
- Redistribution of power and resources
- Creation of power and resources.
Challenges arise when development and empowerment are seen and treated as giving away ‘free’ money, contracts and job titles to ensure B-BBEE compliance.
The result: Many power shifts within companies fail; most start-up businesses fail.
As T. Harv Eker wisely says, “It’s not enough to be in the right place at the right time, YOU must be the RIGHT PERSON in the right place at the right time.”
In my opinion, black people’s income, success and power can only truly grow to the extent that they do. I believe that sustainable economic development is about transforming people, their mind-sets and abilities, meaning the creation of power and resources much rather than the redistribution.
Your passion lies specifically with Enterprise Development within B-BBEE. Why?
The fact is that South Africa offers an unbelievable potential for wealth. The 2010 Finscope Small Business Survey shows that South Africa has an estimated 5,6 million small businesses, 82% of which are subsistence SMEs or so-called ‘lifestyle’ businesses. Small and medium enterprises account for 91% of all formal businesses and account for 61% of all national employment.
The statistics clearly show the enormous entrepreneurial potential, will and impact that small businesses have in South Africa. The importance of entrepreneurial development cannot be underestimated. It is not enough to divide the existing economic pie and just shift the power.
Enterprise Development is expanding the economic pie and, therefore, has the highest truly sustainable impact on our economy and society.
Why should large companies be investing in B-BBEE?
Beyond B-BBEE compliance, the expanded access into markets and the reputable integrity of a company, there is more to gain. Large companies play a critical role in driving inclusive and sustainable development, which changes South Africa as a whole and the way we are perceived internationally.
A favourable view and the trust of economies beyond our borders increases foreign investments into South Africa and contributes to a strong currency. Every business, no matter how small or large, prospers from a strong economy.
What can The Investment House do to support that step into true empowerment for a new South Africa?
We, at The Investment House, focus on developing people. We develop entrepreneurs who own their success and their failure.
In our incubator we are setting up black entrepreneurs for success. Our coaching and mentoring programme focuses on the entrepreneurial mind, our workshops focus on mastering success with Business Intelligence and through our business development programme we provide access to finance, markets and skills.
All of our entrepreneurs are fully responsible and accountable for their own success, as well as their failure. That is why we carefully assess and select our beneficiaries as we have come to see that entrepreneurship is a mindset much rather than a business model.
If you want to make a real difference in South Africa, one that affects all South Africans, then The Investment House is your ideal partner.