Johannesburg - The South African Future Trust and Jonathan Oppenheimer, this week, announced that the Trust will be expanding its initiatives to concentrate on job creation and SMME development.
The Trust was initially established to champion, support, and help small, medium, and micro-firms through the Covid-19 crisis. It was founded in March 2020, with a R1 billion grant from the Oppenheimer Generations Foundation.
It plans to refocus its energies on empowering and supporting SMMEs now that the crisis is over.
It has announced that it will conduct a two-day summit for aspiring entrepreneurs to mark this evolution.
The first South African Future Trust Summit, which will take place on November 22 and 23 at the Gallagher Convention Centre in Midrand, will provide an opportunity for business owners to come together and collaborate on projects that promote empowerment, innovation, and development. It will give SMMEs numerous opportunities to present their companies, learn from an active forum, and build platforms for growth, from motivational keynote presentations to useful masterclass sessions, interactive seminars, and customised exhibition spaces. Additionally, networking opportunities with other business owners, investors, and SMME experts will be available to entrepreneurs.
The Trust provided direct financial assistance in the form of interest-free loans during the initial “hard lockdowns” of the epidemic, enabling businesses to pay staff a weekly salary for a 15-week relief period and weather the Covid-19 storm. With both financial and non-financial support, it will now focus on supporting job creation and boosting growth in the SMME sector.
The fulfilment of this three-pronged plan to help, develop, and expand SMMEs is everything that Oppenheimer, his family, and the trustees had hoped for, according to Oppenheimer, Executive Chairman of Oppenheimer Generations.
“At the Foundation, we are committed to building prosperous and sustainable societies and businesses that are resilient enough to weather any storm,” he says. “We do this by investing in businesses, people, and the environment and by helping to create catalysts for sustainable growth and development.”
A perfect example of such a catalyst is the Future Trust Summit, which will expose attendees to cutting-edge perspectives from eminent local and international speakers and experts in the SMME sector. Participants will have the chance to discover frictional costs concealed within their firms, learn about the effects of disruptive technology, and gain useful skills for navigating a fast-changing business environment.
“The experience will be designed to deliver practical, everyday advice,” says Oppenheimer. “It will offer practical tools that will leave participants better equipped to build their businesses and make a difference in their communities.”
Access to financing is one of the biggest obstacles for SMMEs. To assist township property owners in obtaining their title deeds, Oppenheimer Generations has developed a project in Khayelitsha, Cape Town. This enables them to use their houses as collateral to obtain financing for new ventures, including backyard rentals, hair and nail salons, spazas, and auto repair shops. Of the 1 807 title deed applications that have been submitted thus far, 686 have been approved, while 1 121 more are still being reviewed.
“The title deed programme has unlocked R174 million in value and has been a hugely successful pilot project,” said Oppenheimer. “And is now ready to be rolled out nationally. It is a great example of helping SMMEs grow through innovative solutions that are practical, accessible, and, most importantly, value-adding.”
According to him, the Trust’s goal is to establish a hyperlocal ecosystem in which the public, private, and non-profit sectors may interact to foster skill-sharing, boost the economy, and foster job growth. Entrepreneurs from across the nation are invited to participate in the summit, which ushers in a new phase in the realisation of this ambition.
“By bringing together the best and the brightest in South Africa, we will be delivering a transformative event that will celebrate entrepreneurship in South Africa; entrepreneurship that will bring together visionary leaders, business owners, and changemakers to foster a brighter future for our nation.”
The Star