Western Cape businesses invited to enter entrepreneurship awards
Western Cape businesses have two weeks left to enter the Premier's Entrepreneurship Recognition Awards (PERA).
Now in its fourth year, the PERA awards seek to celebrate entrepreneurs who are contributing to job creation and growth. Entries close on 5 September.
Premier Helen Zille and Alan Winde, MEC of Economic Opportunities, last month launched entries for the 2016 PERA awards.
PERA is an initiative of the Department of Economic Development and Tourism. Over 700 entrepreneurs have entered the awards since 2013.
MEC Winde encouraged entrepreneurs to enter. "Through the efforts of our innovative and dedicated entrepreneurs, employment is created for over 500 000 people. PERA seeks to celebrate their achievements and to inspire other potential businesspeople to grow and start businesses."
The initiative is being co-sponsored by Absa.
Doug Walker, Managing Executive for Absa Western Cape, said: "At Absa we recognise the vital role SME's play in our economy in generating economic growth and job creation – we are delighted to be a partner of the PERA awards. We see the awards as an important platform to showcase and create a culture of entrepreneurship in the Western Cape.
"We also recognise the importance of SMEs as an engine of economic growth and we are committed to partnering with other stakeholders to develop sustainable SMEs. Our support for these awards is in line with our Shared Growth vision, through which we aim to use our assets and resources to grow and develop the societies where we operate while growing our business."
Absa's Shared Growth strategy focuses on three priority areas, namely: education and skills, financial inclusion and enterprise development. Walker said the concept of Shared Growth recognises that: "As we grow, society prospers, and as society prospers, we grow. This theme of reciprocity is critical if we are to succeed."
There are 11 categories and the winner in each category will receive R100 000. The second place and third place entrepreneurs will received R50 000 and R25 000.
The overall winner will receive R100 000 prize money to grow their business and an overseas trip to a conference or trade fair.
There will be 3 finalists per category; one winner will be selected per category from the 3 finalists, resulting in 11 winners. An overall winner will be selected from the 11 winners.
The overall winner will be judged on the ability of the business to sustain/create jobs and to increase its turnover in the medium to long-term.
Emerging Business: A business in its initial growth phase operating in the Western Cape for 12 months or longer, but not longer than 36 months;
Established Business: Operating in the Western Cape for longer than 36 months with an annual turnover of more than R10m and less than R50m;
Social Enterprise: Any revenue generating entity operating in the Western Cape for 12 months or longer, which aims to address a social challenge or need;
Innovative Student Business Idea: Student defined in a narrow sense that is any full time student at a Western Cape tertiary institution including TVET colleges. This refers to an innovative solution (idea or concept) to a new problem or service. This category will not be taken into consideration for the overall winner;
Most Innovative Business: Operating in the Western Cape for 12 months or longer. This refers to an innovative solution or approach to an existing service or product;
Job-creating Business: Operating in the Western Cape for 36 months or longer with an annual turnover of less than R10m and an indication of the number of permanent employees appointed over the last financial year;
Emerging Rural Business: A business in its initial growth phase based in areas outside of the Cape Metropolitan area and operating in the Western Cape for 12 months or longer, but not longer than 36 months. The business should have an annual turnover of more than R500 000;
Emerging Tourism Business: A business in its initial growth phase operating in the Western Cape for 12 months or longer, but not longer than 36 months;
Emerging Agri-Processing Business: A business in its initial growth phase operating in the Western Cape for 12 months or longer, but not longer than 36 months;
School Business Idea: Any high school in the Western Cape (Grade 8 to 12 learners or equivalent). This category will not be taken into consideration for the election of the overall winner. Learners could also apply independently (prize money to be paid to the applicant); and
Business with Global Reach: Operating in the Western Cape for 36 months or longer with a minimum turnover of R10m and less than R50m. The operations of this business should have a global reach.
The overall winner will be judged on the ability of the business to sustain/create jobs and to increase its turnover in the medium to long-term.
Issued by: Western Cape Agriculture and Economic Development