Five young entrepreneurs saw their dreams come true when they won substantial cash prizes to get their businesses up and running – thanks to the LIBSA Youth Biz Competition!
LIBSA, through its Special Projects Division, and in partnership with the Department of Economic Development, Environment and Tourism, launched the Limpopo Youth Biz Competition to stimulate and provide a platform for aspiring young entrepreneurs to enter the business world. As a Limpopo Business Zone spin-off, the Youth Biz concept ultimately aims to help establish viable, youth-owned businesses in Limpopo Province – and now sees five youth owned businesses in action in the four district Municipalities.
LIBSA management stresses that ‘our commitment to empowering all - including women, the youth and disabled - lies at the centre of our business incubation strategy’. And it is against this background that LIBSA initiated the Youth Biz programme to encourage young business-minded people to compete for five prizes during the second quarter of 2006. In its first year of inception, Youth Biz produced more than 500 hundred business plans competing for the five prizes. Using information based on the Province‘s market analysis and the potential to be sustainable, 5 businesses were carefully selected in three categories: Bakery Services, Information Communication Technologies and a Hair Salon Service.
Operating from Lebowakgomo, Giyani, Jane Furse, Mokopane and Modimolle, all the winning businesses are showing their worth and proving to be a justifiable investment for both LIBSA and their owners.
Technoteck Communications – owned by Walter Maleyana and located at Benstore in Giyani, this ITC business is fast establishing itself as a cost leader in the provision of internet, e-mail, photocopy, printing, laminating and public phone services. In addition, the company designs business cards and sells stationary to other businesses in its vicinity. Th
e business strategy is to deliver internet and e-mail services at low cost in order to maximise sales. With the growing number of students using these facilities, Technoteck Communications is able to apply scaled economies on these services.
Sparknet Communications is located in Mokopane to offer convenient access to fax, photocopying, internet, e-mail and public phones to local residents without them having to travel long distances to town. Silas Masebe, the owner of this outfit points out that his enterprise is adding a much-needed value to society and the future looks bright for its growth.
Kenny-King Hair and Beauty Saloon is situated in Lebowakgomo at the old Shopping complex and couples skill with passion, displayed by owner, Kenny Maphetho. The Salon business industry depends largely on the skill and ability to provide quality and innovative styling to customers. Kenny, known for his creative touch, is rapidly changing the face and looks of the residents of Lepelle Nkumpi and its surrounding areas. Kenny’s business strategy is to establish loyalty amongst his customers by providing top class salon services.
Modimolle Bakery, owned by Hosea Ngoasheng in Modimolle, is fast becoming a popular distributor of freshly baked breads, rolls, and biscuits to schools, feeding schemes and crèches. Hosea aims to soon diversify the business into related products and plans to add a confectionary to its service offering soon.
For Mamone Bakery in Mamone, Sekhukhune district, the Youth Biz competition was a ‘dream come true’ for four young ladies and two young men. Bonus Mampuri, s
peaking of behalf of the group says that the long hours they endured in developing the business plan and ultimately winning the competition, have paid off - and they laud Youth Biz as a crucial programme in improving the livelihoods of young aspirant entrepreneurs in the Province. The team also heartily applauds the outstanding business support services that the Jane Furse LIBSA branch has provided.
LIBSA’s CEO is quick to point out that Limpopo Youth Biz has significantly broadened the institution’s reach to young aspirant entrepreneurs in the province. ‘Taking our unemployed youth off the streets is what LIBSA envisages and this programme is proving our vehicle to reach that goal’. He adds that ‘we will embark on broadened collaboration with other public and private entities to ensure that Limpopo Youth Biz remains a powerful tool for the entrepreneurial instigation of our youth.’
