Ricochet News

Entrepreneurs graduate and aim to grow sustainable businesses

Entrepreneurs graduate and aim to grow sustainable businesses

45 established entrepreneurs from the Nelson Mandela Bay Metropole who are enrolled in The Hope Factory’s business development programme have graduated. They have completed a 17 week-course which focuseson financial management and personal and business development. 

Starting and running a financially viable and sustainable business in South Africa can be quite a daunting task: on average only one in five businesses succeed. This is largely due to a lack of business knowledge, training or experience. Often times we hear that entrepreneurship is a lonely journey but it doesn’t have to be. Entrepreneurs need support and through The Hope Factory’s business mentorship programme, these 45 individuals have experienced just that.

Peter Gossman, a Business and Finance facilitator says this comprehensive course equips the students with skills that are vitalto their businesses. “Many of our entrepreneurs who have gone through our programme have said that The Hope Factory hassaved their business and helped them to become profitable and sustainable,” he says.

When Rene Sauls, owner of Picnic Basket, joined The Hope Factory she had no business experience. With the help of her business mentor, Anthony Matroos, they began applying the basics principles of business management, building basic business blocks to ensure the business become profitable. “In the first few months the business showed a loss, but has slowly started to make a profit after we implemented a business strategy with a heavy focus on profitability,” says Matroos.

Lungisa Lutshaba, owner of Lungisupreme Beverages, says, “I have learned that understanding the business is key to its success. Passion and enthusiasm alone will not safeguard a brand in this highly competitive environment. The Hope Factory helped me to better understand my client’s problems by building good relationships and by doing risk analysis. I can now make calculated decisions while shaping and reviving my business.”

Another happy graduate is Simphiwe Ntlantsana, the owner of Ntlantsana Accountants and Auditors. He says, “This is an awesomeprogramme as it helped me to understand the many aspects of running a successful and sustainable business. We as entrepreneursneed to take full advantage of the programmes available as they indeed give hope to our business men and women.”


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