Pretoria - The Small Business Runway is hosting the eighth annual business expo at the SA Innovation Hub in Pretoria, on July 9.
The Small Business Runway Expo brings together more than 500 unemployed youth hungry for opportunities and ready to start their own entrepreneurial journey.
The initiative supports these young people by providing them with practical tips and tools, a platform to network and the business education to set them up for success.
Small businesses play a significant role in reviving the township economies, driving economic growth and job creation.
A report by McKinsey indicates that small businesses in South Africa employ between 50 and 60% of the country’s workforce across all sectors.
In South Africa, youth unemployment rate remains at a record high of 63%.
The best way to address this socio-economic issue is through empowerment, support and innovation.
Entrepreneurship must be promoted and supported across Africa to foster economic growth, boost job creation and alleviate poverty.
The expo aims to bridge the gap by addressing the various challenges faced by entrepreneurs and small businesses.
The main objective of the expo is to strengthen relationships and partnerships with the private sector and local municipalities, so that they can assist in creating opportunities not only for work but for young entrepreneurs to be part of their supplier database.
On the day of the expo, transactions will be facilitated and therefore enable entrepreneurs to trade locally to add value to the local business economy that would otherwise not have happened outside the event.
"We put power and money in the hands of minority business owners by allowing them a platform to transact,” said Gcina Madonsela, the chief executive of Business Runway.
The expo is popular and provides a platform for business leaders who are brought in to help to workshop some of the biggest challenges faced by business owners.
Under the theme “Generational Wealth”, the expo will be headlined by Sasol Mining vice-president Caroline Shirindza, Era chief executive DJ Zinhle, Drip Group chairperson Lekau Sehoana, IT Varsity chief executive Bilal Kathrada, Neo Aviation chief executive Thokozani Miyah and founder of Vaya Footwear Sneakers Themba Makamo.
Pretoria News