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VIDEO: The Hope Factory gives hope to local SMEs

By Marc Jacobson - Aug 11, 2017
VIDEO: The Hope Factory gives hope to local SMEs

The Hope Factory, an enterprising entrepreneurial development organization, hosted its annual Hope Day breakfast at the Radisson Blu Hotel on Friday morning, where small businesses and entrepreneurs were offered engagement with collaborative partnerships.

Winging small businesses and entrepreneurship opportunities, The Hope Factory, established in 2001 and endorsed by the South African Institute of Chartered Accountants (SAICA) has impacted over 700 small businesses in its existence through its impactful developmental programs.

“Through the effective implementation of Enterprise and Supplier Development (ESD) as well as Socio-Economic Development (SED) we ensure impactful entrepreneurial development, while providing added value for our clients through our customised programmes tailored to our clients overall company strategies,” said CEO of The Hope Factory, Annie McWalter, at the breakfast.

“When The Hope Factory started, it started with that passion for personal growth; we believe that if people grew individually with the right skills, that they would be able to create jobs and the ability to create wealth.”

“Throughout the journey, what we’ve really stumbled upon, was the power of small businesses, and the power of SMME development, so enterprise development really became a special focus for us, which means we are also supporting the growth of black entrepreneurial businesses.”

“The Hope Factory started to very much become the bridge between small businesses and the large corporates; and that is the kind of role we will play for many years to come as we help transform the corporate supply chain,” McWalter added.

To measure the impact of entrepreneurial development interventions, The Hope Factory evaluates both leadership and business growth for the Socio-Economic Development (SED) and Enterprise and Supplier Development (ESD) programs.

The growth success of the ESD entrepreneurs is measured according to growth in job creation, increase in turnover and increase in margins.

One of four entrepreneurs who took part in the panel discussion at the Hope Day breakfast, Nomkhitha Kwinana, now Managing Director of Zingce Environmental Solutions, emphasized that personal growth is interdependent with business growth.

The Hope Factory taught me that to succeed in business you need to be resilient,” she said.

“The Hope Factory Financial Boot Camp taught me how to manage my finances, to have more knowledge of my numbers, and to gain more confidence, because what you cannot measure, you cannot manage.”

“I just have to take a moment to thank The Hope Factory, because as entrepreneurs, we know that the journey can be lonely, and without them working with us, it would have been very difficult.”

“Their mentorship sessions have really also helped me in terms of keeping focus on my business,” Kwinana said.

Through the Financial Boot Camp sessions, she has now learned how to understand and interpret her financials in order to make better business decisions; and in comparison to Quarter 2 year-on-year, her business has grown by 95%.

The Hope Factory also took a moment to thank SANLAM and Radisson Blu for their sponsorship towards this event. “Thank you for coming alongside us and ensuring a successful Hope Day 2017. We appreciate your willingness to support us”, said Jill Johnson, Senior Branch Executive at The Hope Factory.

“We have a shared belief (a collective efficacy), to transform our economy through entrepreneurship. It is about impact, the tangible and intangible, none of which we can achieve without the collective efforts of our strategic partners and clients,” she added. 

ImageFrom left to right in the entrepreneur panel discussion; Nombulelo Majola, Mosa Dikoba, Randall Maarman, Nomkitha Kwinana and Kenlin Stride. 

Watch to see what else The Hope Factory CEO, Annie McWalter had to say at the Hope Day breakfast