Mentorship boosts SME revenue

2014-06-04 13:18

The revenue of small businesses that received mentorship, or technical assistance, was up to 70% higher than those that did not, said Business Partners managing director Nazeem Martins.

The specialist risk finance company for formal small and medium enterprises reported that last year, its funding of small businesses reached its highest level in five years – about R1 billion in the period to March this year.

Martins said this confirmed the resilience of the South African SME sector.

He added that while they welcomed the government’s efforts to enhance the importance of the SME sector in creating jobs, he hoped that government was ready to do the hard work because funding SMEs took time and patience to see the reward.

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