Entrepreneurship needs to be celebrated in South Africa in order to motivate greater participation in the SME sector, which has the potential to create meaningful employment.
This is according to Blessing Utete, Head of Liberty Corporate Consultants & Actuaries, who handed over the award of the Top Performing Entrepreneur of the Year, a category which was sponsored by Liberty Corporate, at the National Business Awards held at Emperors Palace on 19 November, 2015.
The award went to Mark Lu – CEO of Corex (Pty) Ltd (the award was accepted on his behalf by Stewart Diss – COO at Corex). Lu was recognised for growing the company revenue significantly and transforming it from a commodity based sales operation to a solution based service company. Under his leadership, the company contributes to youth employment, proudly employing people under age of 25.
“It is important that we not only recognise and celebrate entrepreneurs but, as corporate South Africa, also encourage and support them in their entrepreneurial journey,” Utete says.
“Furthermore, by highlighting those who have achieved entrepreneurial greatness, we believe we can motivate others who want to follow their passion of starting their own business and strive for their own success,” Utete says.
South Africa’s rate of entrepreneurial activity is very low for a developing nation, at a quarter of that seen in other sub-Saharan countries, according to the 2014 Global Entrepreneurship Monitor (GEM) report.
Utete says that this highlights the need to encourage entrepreneurship and to educate new or potential business owners of the resources available to them. He highlights initiatives, such as Enterprise and Supplier Development (ESD) programme, as an effective means of accessing financial and non-financial support for entrepreneurs in order for them to thrive.
“Through our consulting and actuarial solutions, we are able to help small businesses and large corporates achieve financial freedom for their employees. By assisting our clients develop cost-effective employee benefits, health, investment, risk and corporate risk mitigation solutions, this allows them to focus on their core business,” Utete says.
“We believe that by supporting those with an entrepreneurial spirit and by helping SMEs grow, we can contribute to a sector that has the potential to drive real change in South Africa’s economy through meaningful job creation,” Utete concludes.