A collaboration that’s a catalyst for growing and developing small businesses

Recognising the potential of successful SMMEs, particularly in South Africa’s rural and township communities, the?ASISA Foundationlaunched the FLAME (financial literacy and micro-enterprise) programme a few years ago. This initiative aims to support and empower small businesses, equipping them with essential skills and knowledge for sustainable growth.

About three years ago, the Western Cape Department of Economic Development and Tourism’s?(DEDAT)?SMME Booster Fund became a co-funder of the FLAME programme.?

Deon Damons, Deputy Director: Enterprise Development at the Western Cape DEDAT, provides insight into the department’s continued support of the?FLAME?programme.?

Q: Why did DEDAT decide to support the FLAME programme?

A: The SMME Booster Fund aims to accelerate existing programmes implemented by organisations that make a significant impact in promoting business growth and employment. The ASISA Foundation’s FLAME programme aligns with this objective through its comprehensive approach, targeting a specific audience, and advancing the growth and development of SMEs. The fact that the FLAME programme receives recurrent funding is a testament to its ability to achieve the goals set by the provincial government and our enterprise development unit.

Q: What are the highlights of collaborating with the ASISA Foundation?

A: The highlights lie in the remarkable results we’ve witnessed through the programme’s implementation. The FLAME programme spans 18 months, allowing for comprehensive intervention and business advancement.?

A significant achievement is the sustained participation of small businesses throughout the programme. Another notable outcome is that participating entities change their perspective of ‘business’ while being on the programme – they start looking for new opportunities and differentiators to grow, evolving from business owners to entrepreneurs. The programme’s focus on financial management and personal financial development equips participants with vital skills necessary for business growth.

The Foundation is also one of the most professional and organised programme facilitators we’ve had the pleasure of working with. They understand the processes we need to follow, the systems government imposes upon them and the outcomes their programme needs to achieve. From start to finish, FLAME demonstrates proficiency in executing a programme of this nature.

Q: What impactful achievements stand out the most?

A: The ability of these small businesses to collectively impact their regions and improve their trade capacity in that area is significant. The FLAME programme has witnessed dynamic business growth among its participants within a relatively short period of 18 months, which is not always the case with similar programmes. Employment creation has also been successful, but the growth in business capacity, reflected in increased turnover, is particularly remarkable.

Q: Are these changes enough?

A: While tangible outcomes such as increased turnover and employment growth have been observed, the true measure of success lies in long-term viability and growth. We recently had an interaction with one of the first businesses to participate in the FLAME programme. It’s been able to maintain implementation of the FLAME fundamentals, which has led to business growth.?This gives us a sense that participants in the FLAME programme will continue to advance and be successful in the years to come.

Q: In your opinion, how does the ASISA Foundation contribute to the priorities of the National Development Plan (NDP) and the United Nations’ Sustainable Development Goals (UN SDGs)?

A: FLAME aligns with the NDP and especially with the UN SDG8, which emphasises economic growth and employment creation – something the Western Cape provincial government is also pursuing. We’re?looking at taking micro-businesses and exponentially growing them over time within a programme that provides them not only with the skills they require, but also with the mindset that’s necessary to want to succeed,?think entrepreneurially and explore new opportunities. This approach is vital in achieving the diverse goals set forth by the NDP and the UN SDGs.?

??To get involved with or contribute to the FLAME programme, contact programme manager Sibusiso Sagoda [email protected] [email protected],?or click?here.?

Ruth Benjamin-Swales?Janete Nel?Namarsha Singh?Koovi Moodley?Ivor Nkanyiso Msimang?Helena Gavera?Sibusiso Sagoda?Hallid Smith?Francois Adriaan?Grounded Media?Genesis Analytics?John Manyike?Association for Savings & Investment South Africa (ASISA)?ASISA Academy?The Hope Factory?Marana Brand?Smart About Money?Laura du Preez, CFP??Atleha-edu NPC?NBC Holdings?Sanlam?Busisa Jiya?Ingrid Goodspeed?Tebello RadebeKilly Bacela?Rodger Walters?Seipati Nekhondela?Ramostshudi Isaac RamputaBureau of Market Research (Pty) Ltd Deon Damons Coco Cachalia