Enterprise Development is the development of micro and small businesses so that they can grow, become sustainable and most of all create jobs. Enterprise Development has been used as an economic growth mechanism in all developing economies and the South African economy is no exception. MEDO has identified global best practice and implemented these in a local context to ensure the maximum impact and economic growth.
What is an “Enterprise Development Beneficiary”?
A beneficiary is an Emerging Micro Enterprise (“EME”) or a “Qualifying Small Enterprise (“QSE) with at least 51% black ownership.
An EME has a turnover of less than R10million per annum, and a QSE a turnover of between R10million and R50million per annum.
What value can Enterprise Development add to my business?
- Through Enterprise Development we grow the local economy, creating a larger pool of potential customers and suppliers. The larger the economy and the higher the income per capita, the larger the potential customer base. Entrepreneurs are known to be highly innovative and the MEDO team has found that innovations developed by beneficiaries are implemented in the sponsoring organizations, unlocking value and benefit. The intangible benefit is the motivation of staff through engaging with and assisting the beneficiaries.
- Great PR
- Entrepreneurs are the gladiators of the 21st century and the good news to be shared of their successes is attractive to the media. The MEDO team is able to generate AVE (Advertising Value Equivalence) values that often exceed the investment in the enterprise development programmes.
What can MEDO offer?
MEDO delivers Enterprise Development Programmes suited to the client, their industry and area of operation. These include:
- Rural Enterprise Development
- Local Economic Development
- Foundation Business Skills
- National Trade Programmes
- International Trade Programmes
- Generic and ongoing enterprise development programmes
How does MEDO deliver?
The MEDO team has a tracking system that is able to track the beneficiaries and impact from the time the application for a programme is received until the final outcomes are presented to the accreditation agent. All our processes have been accredited by Empowerdex and the MEDO team can guarantee impact and ED points. In Johannesburg and Cape Town MEDO runs the Foundation Business Skills Programme on an ongoing basis, thereby making point available immediately to large entities concerned that they will not reach their targets.
Where do we start?
The MEDO team will start by corporate sponsor interviewing internal team members to determine what is already being undertaken in Enterprise Development, yet not being recognized as such. In addition, the team will engage with the leadership to identify opportunities to add value to the business through the development of potential customers, enhancing PR campaigns and identifying opportunities to engage new suppliers.
Meet our enterprising entrepreneurs:
I need enterprise development right away Email Us
Resources: Read the DTI code for Enterprise Development
Thought Leadership: 2014 Advertising Equivalent Report (AVE)