It is over a year ago that the Stellenbosch Small Business Academy, part of the Stellenbosch Business School, started its first business academy in East London and the class of 2024 more than lived up to every expectation, said the academy’s social impact manager, Nicole Taute, at last week’s graduation ceremony.
The Stellenbosch SBA in East London is a collaboration between Border-Kei Chamber of Business, Treadstone Consulting, Harry’s Printers and Eastern Cape Development Corporation.
Taute said: “The first cohort graduated in 2013 from our academy in Bellville. We’ve come a long way since then and have branches in East London, Port Noloth and Aliwal North.
"Over 500 business students have graduated from our classes, which have an average of around 25 students per class.”
She said the first SBA in East London had more than lived up to expectations.
SBA’s nine-month development programme provides small business owners with theoretical knowledge and practical skills to navigate the complexities of the business world.
Small and medium-sized enterprises (SMEs) account for 60% or more of SA’s employment and over 30% of GDP (Gross Domestic Product).
While the EL cohort had, on the whole, produced the goods, there had to a winning student for the first course and that honour went to Savannah Erasmus, founder and owner of Wild Coast Creative Studios in East London.
“I’m into digital marketing, and I set up a company a few years ago,” said Erasmus.
“We do printing and signage from a home studio, which is also my office. As far as the course goes I not only enjoyed it immensely but I also graduated a lot smarter than I was when we started.
"I loved the marketing modules, understandably, because that is my business. But it was the finance module that really opened my eyes, because I was never a numbers person.
"But I am now.”
She said the course was both challenging and exciting.
“It was broken down into four blocks of two weeks each, with classes every day, including Saturday. On top of that there were assignments that had to be completed after hours.”
Erasmus is from East London and matriculated from George Randell High School.
Taute said that, looking back over the many courses, there had been numerous success stories in that time, with students using the impact of the lectures to grow their businesses.
“We had a herb farmer student whose story so inspired a nearby landowner that he gave the farmer a large piece of land on which to expand his business.
"Another student so enjoyed the studying aspect, which revolutionised her business, that after completing her academy course she signed up for a full Master of Business Administration (MBA) and now teaches our business programme.
"There are many other tales of success.”
She said the social impact aspect of the course was critical to its success, especially as the academy was directly linked to the Stellenbosch University family.
“To qualify for the course, applicants need at least two years’ experience in running their own businesses successfully.
"Once they are accepted we take over aspects such as compliance, vision and business registration, without which they would not be eligible to secure grants, loans and other funding, which is essential to their growth.”
“Our five-year vision is to expand the business schools’ impact with more business academies throughout southern Africa and then internationally, and we don’t see an end to that journey.
"Small business is the heart of commerce in this country, especially for those who were underprivileged.
"We need to broaden the social impact, which is part of my role.”
Daily Dispatch
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