In South Africa today, only one in four small businesses survive the first three years. Yet we are relying on this sector to generate 90% of new jobs by 2030.
If our country is to prosper, this has to change.
My aim, and that of Fetola is simple really; it is to grow the economy and create jobs by building businesses that last. We are passionate about long term success, and 87% of the small businesses we work with are still in business ten years after exiting our programs.
One of the key contributing factors in failure though, is lack of access to markets. Supplier Development is one important tool for resolving this.
That is why we created ABSA Supplier Development Awards – to celebrate those businesses that are mastering supplier development and more importantly, for us all to learn from, and be inspired by them.
We have heard how the business leaders who make supplier development central to their strategy are driving change through their own organisations, and into their supply chain ecosystem. A clear strategy that is driven from the CEO downwards is most successful. And the best are those who have placed supplier development central to their competitive advantage and key to their long-term success. If you would like to find out about the winners from the awards or the judging process visit the website.
Aside from the successful outcome of the ABSA Supplier Development Awards this month’s issue of Catalyst covers my article, Beyond the Scorecard, which touches on the issues of supply chain development in South Africa. Hear what CEOs of big businesses have to say about supply chain development in the ABSA Supplier Development Awards video. If you would like to find out more about the winners please follow this link.
If you, like many of us are unsure about terms like AI and Big Data then our book review on Kevin Kelly’s book The Inevitable will bring you up to speed.