The empowerment of entrepreneurs has always been a core objective for us at SAB. The creation of SAB KickStart, SAB Foundation, SAB Accelerator and SAB Thrive, shows our commitment to providing a tangible and sustainable future for South Africans by providing invaluable guidance and support to the businesses we partner with.
We believe in our entrepreneurs, in their dreams, in their drive to succeed and in the difference they make in our communities. That’s why we want to back them and their ideas 100%, and aim to create 10 000 sustainable jobs by 2022 through our entrepreneurship programmes.
Each of these programmes were created to aid entrepreneurs across various stages of business development and help people and communities that require business and management support. We have divided our resources into these segmented entrepreneurship programmes, in the hopes of inspiring and uplifting the communities in which they are situated.
We believe that the youth are capable of being powerful key drivers in our country’s economy. However, we are aware that on average, 70% of small businesses fail in the first 1-3 years of operation.
This is where we come in. Our aim is to help ensure that the businesses that operate in key high potential industries, and are led by young, ambitious and driven owners, are fully supported in their entrepreneurial journey through fit-for-purpose knowledge, tools and processes that will assist them to succeed long-term.
Introducing SAB KickStart, a youth entrepreneurial programme. Its main focus is to assist small business owners, between the ages of 18 and 35, so that they can play an active role in the economy by running successful and sustainable, youth-led businesses.
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There are two parts to the programme – SAB KickStart Ignite and SAB KickStart Boost.
Ignite is a programme that supports disruptive, youth-led innovators that have businesses or products and services, with the potential to grow into viable businesses.
Eligible entrepreneurs receive technical product and business development support, which includes one on one mentoring, prototyping, commercialisation, and financial support, where required.
SAB KickStart Ignite is a 6-month programme which acts as a pipeline of entrepreneurs for more advanced programmes such as SAB KickStart Boost.
The Boost programme backs entrepreneurs with existing and emerging businesses in key industries. As a result, these businesses are encouraged to grow into sustainable businesses that create jobs in their surrounding communities.
The entrepreneurship programme consists of a 12-month course that includes assistance from operational processes and tools to business skills support and more. Capitalising on these skills will help take businesses to the next level.
For more information about SAB KickStart and its entry requirements, visit: https://www.sabentrepreneurship.co.za/kickstart
The SAB Foundation invests in entrepreneurs and social innovators – with an emphasis on services and products that benefit women, youth, people living in rural areas and persons living with disabilities – who show the potential and commitment to grow their businesses and create jobs.
SAB Foundation is an independent trust that was created in 2010. The foundation annually invests millions of rands towards developing entrepreneurship in South Africa and ensuring that low-income communities are uplifted.
SAB Foundation has two major focus areas, one being entrepreneurship and the other is social innovation.
“If you take a bucket that has holes, you can put water in that bucket, the bucket will never fill up with water. Through the SAB programme one was actually brought to understand that you need to start by plugging in the holes first for the business to grow.” – William Dhlongolo
Applications open once a year to recruit around 877 businesses.
Within the SAB Foundation, the Social Innovation Awards are held. These recognise the work of entrepreneurs who find innovative solutions to challenges facing some of South Africa’s most vulnerable people.
The work could include a product or a process that proves to be original and innovative within the category. You will also be required to prove that you have spent time and/or money developing your piece of work.
We define social innovation as innovation that demonstrates a sustainable business model while solving a social problem, with emphasis on innovation that benefits women, youth, people living in rural areas and people living with disabilities.
Applications for 2017 are currently closed and will re-open in 2018. They are open to all South African citizens of 18 years or older.
For more entry requirement information about the SAB Foundation Fund, visit: https://www.sabentrepreneurship.co.za/foundation
SAB Accelerator is focused on supporting black-owned suppliers in need of business development and technical support to grow further into the SAB supply chain.
The SAB Accelerator programme has 3 sub-programmes namely, Start-up, Catalyst and Amplify.
The Start-up and Catalyst programmes screen all potential suppliers to identify business gaps and provide the required support to enhance businesses. The suppliers are then taken through a 2-5-month programme, involving a variety of mentoring, training, and project management. Once this is complete they either graduate into the Amplify programme or graduate from the programme entirely depending on how they performed.
The Amplify programme provides additional business development support to the graduates of the Start-up and Catalyst programmes and takes place over a period of 3 months. Upon completion of the programme, applicants exit and are monitored on a bi-annual basis, for a period of 5 years to analyse their progress.
To find out more about the entry requirements for SAB Accelerator, visit: https://www.sabentrepreneurship.co.za/suppliers
The SAB Thrive Fund, is a fund focused on supporting existing black-owned suppliers in need of capital to grow and the need for improvements on their black ownership credentials by providing them with access to 100% black-owned capital.
The SAB Thrive Fund is an Enterprise & Supplier Development (E&SD) Fund powered by the Awethu Project, which is the Black Private Equity Fund Manager that owns a majority of the Fund (51%) – enabling this intervention to speak to both the spirit and the letter of the B-BBEE codes by creating shared value for both SAB and black-owned businesses.
The SAB Thrive Fund has been divided into two main parts:
The existing black-owned suppliers – which The SAB Thrive Fund can invest growth equity capital into in order to further their profitable expansion into the SAB supply chain, without diluting the black-ownership of these businesses.
The existing white-owned suppliers – which the fund also provides equity capital to, in order to support the enhancement of their black-ownership, while facilitating the introduction of a black entrepreneurs to gain an ownership stake in their business.
To find out more about the requirements for the SAB Thrive Fund visit: https://www.sabentrepreneurship.co.za/suppliers
The New Rules Of Customer Experience
Intelligent Experience Economy will change the rules of customer experience.
Our report identifies five rules organisations can follow to reimagine the customer experience in the ‘Intelligent Experience Economy’. These rules are the action that organisations need to take if they want to be successful in this new era:
1. Make the customer journey your new chain
Most executives understand the importance of CX and have some form of customer strategy to address it. However, the ‘Intelligent Experience Economy’ calls for significant action. Organisations will need to develop an enterprise-wide customer journey. Creating a common language and taxonomy around the customer that is universally adopted will spur CX transformation at scale and embed the customer in the core of the organisational culture.
2. Embed AI in the Customer Experience
Our research confirms that businesses understand the critical and still growing importance of ‘big data’ and analytics. However, having an analytics function. AI will be the dominant capability enabling companies to reimagine the CX in the ‘Intelligent Experience Economy’. Embedding AI in the CX is a great opportunity for organisations. It can enable easier communication with customers, speed up transaction times, personalise customer experiences and significantly reduce customer service costs. Furthermore, organisations that have embedded AI will have unique access to customer data.
3. Connect Customer Experience to real value
Customer metrics are now commonplace in businesses. Although the metric is important, too many businesses see it as the end point instead of the starting point. CCOs assessing their CX transformation efforts must take into account how mature their organisation’s CX measurement maturity is.
For many, CX measurement is still immature – actively listening to customers and collecting feedback, but not taking action with CX initiatives. Organisations should develop real-time customer metrics.
4. Let the COO drive Customer Experience Change
The role of the COO needs to evolve if organisations are to execute on their ambitious goals for their CX visions in the next few years. The role of the COO will need to shift from ‘measuring the CX’ to being directive on the priorities to drive CX change. In order to be more directive, end-to-end capabilities will be needed within the organisations, framed around journey stages.
5. Ignite the core
To create real CX transformation – the COO cannot be successful alone. The challenge is about ‘igniting the core’ around CX. To ‘ignite the core’ organisations need to spread the CX vision with all leaders, managers, frontline employees and back office employees alike. Furthermore, organisations will have to establish partnerships across the value chain – including UX/CX experts, data analysis, AI architects, app developers, as well as project delivery partners.
How can organisations execute the customer experience?
In order to be a leading customer experience organisation, companies will need to execute the customer experience at scale across the organisation. Customer strategy execution is transformational in nature and requires new capabilities, new ways of working and an entire organisation to be fully behind the new vision.
How To Immigrate With Your Family By Starting A Business In The UK
The simple way to make your entrepreneurial dreams come true in the UK.
Many people, especially those with families, are reluctant to up sticks and move to the UK. These would-be movers are often worried that they will not be able to secure employment in the hugely competitive UK job market. This source of stress alone is enough to discourage some from pursuing their dreams of living in the UK. But, there is an innovative and accessible solution.
The UK has several visa classes aimed at individuals who wish to invest in the country. These give an individual the right to live and work in the UK with their families, if they make a defined investment. A visa that interests South Africans is the Tier 1 (Entrepreneur) visa. We have developed our UK Tier 1 Entrepreneur Investment Programme to help South Africans looking to immigrate to the UK alone, or with their families.
The basics of the Tier 1 (Entrepreneur) visa
To be awarded a Tier 1 (Entrepreneur) visa, you will need to invest at least R3,5 million (£200,000) in an existing UK business or one you start up. There are certain other requirements, but these are not particularly onerous, and most investors will qualify if they submit their application correctly.
The entrepreneur visa allows you to live and work in the UK, and take dependant family members with you, defined as your partner and your child under 18. If you have the capital, or are willing to liquidate your assets in South Africa to raise it, the Tier 1 (Entrepreneur) visa is a great way to relocate your entire family to the UK.
Do note: You will need to make specific applications for each dependant, so it is vital you consult with an immigration expert before beginning the application process.
You’re not just immigrating, you’re investing in the UK
By starting or investing in a UK business as part of our programme, you will be granted the right to live and work in the UK, and earn an income from that business.
The business you invest in will want you to play an active role, not just contribute seed capital. If you want to invest in a business without being an active director you will be allowed to do so, but you may not be eligible for the Tier 1 (Entrepreneur) visa.
Another restriction is that you cannot hold this visa and work for a business other than the one you are invested in. But, your partner will be allowed to work in whatever field he or she pleases.
How do you choose the right business to invest in?
There is always an element of risk when investing in a foreign business, particularly when you’re thirteen thousand kilometres away from the country you’re investing in. It’s important to understand exactly what you’re investing in before you take the plunge.
That’s why our UK Tier 1 Entrepreneur Investment Programme is hugely beneficial. It matches your investment capital with a pre-approved investee business. We’ll make sure that your skills are matched with an appropriate venture so you can be an active director of that business.
We’ll also handle your visa applications, providing you with a comprehensive immigration and investment solution. Our partner’s list of investee businesses is over 200 strong, giving you an array of choices in various industries. This allows us to pair you with the business that best suits your investment goals and skills.
But what if you have a successful business in South Africa?
It’s no secret — emigrating from South Africa is difficult for many families who have deep roots and thriving operations. There’s no reason why you can’t keep your business in South Africa as well as relocate to the UK.
Nothing restricts a Tier 1 (Entrepreneur) visa holder from owning and overseeing businesses in other countries while they are on this visa. Many clients choose to relocate to the UK while ensuring that their original business continues to operate. In this way, you will be supplementing the income from your UK investment with revenue generated by your South African business.
You can hold British and South African passports if you apply for your British citizenship in the correct manner. You must obtain permission from Home Affairs in South Africa to avoid having your citizenship revoked. Retaining your South African citizenship will make it much easier for you to continue running a business here.
Talk to us today
There are compelling reasons to move to the UK — a brighter future for your children and a more stable country in which to retire. Our comprehensive solution will ensure you get the most out of your relocation.
If you’re thinking of immigrating to the UK or investing offshore — either or both — we can help.
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