Morningside Consulting & Training Group
- Innovation
- Integrity
- Impact
Corporate Social Responsibility (CSR)
- Innovation
- Integrity
- Impact
Small and medium-sized enterprises (SMEs) have been identified as key drivers of employment and economic development. It is also evident that entrepreneurship is important to address the challenge of youth unemployment and can unlock job creation opportunities. SMEs contribute as much as 60% of total employment and up to 40% of GDP in emerging economies therefore they play a significant role in driving economic growth.
According to a study by the World Bank (2017) there’s more than 400 million small businesses in emerging economies. This suggests that SMEs and entrepreneurship are an effective way of creating jobs.
Studies also indicate that the South African entrepreneurial ecosystem is negatively impacted by various factors, including, the economic climate, bureaucracy and red tape, the education system, the dual economy, amongst others.
Many entrepreneurs lack fundamental skills required to run a business and aligned to the inequalities in South Africa society find it difficult to access financial and social capital. This is evident in the research by SEDA (2019) that indicated that 50.8% of small business owners have not completed secondary education.
Kunuka and Moos (2019) reported that mentorship for small owners can address the skills gaps. It was also highlighted that many small business owners favor interaction and learning by the doing-approach and recommended social learning through mentorship.
MCTG Consulting works with nonprofits, government departments, academic institutions, local communities and private sector to develop and provide entrepreneurial skills development programs focused on small business owners and township entrepreneurs, which include business development and management, financial literacy, product develop, project management, digital skills, adoption of technology to support small businesses, rural economic development, access to capital and business model, people management, small business support structures, access to credit, compliance and legal requirements.
These initiatives are aimed at empowering local communities and impact small business growth.
Contact Us for More Insights on How We Can Empower Your Communities and Businesses!
