Speaking to Farmer’s Weekly, Sibongiseni Magadla, enterprise finance consultant at the Eastern Cape Development Corporation, said there was a need to invest in businesses beyond short-term interventions.
“We provide financial and non-financial business development support. We don’t just want people to be employed; we want them to be empowered and capacitated to run businesses and create sustainable jobs,” she explained.
Magadla also spoke about the importance of compliance and proper business planning, saying that entrepreneurs must understand their projections and justify their financial needs to potential investors.
“If you are requesting [a R5 million investment], you need to show how your business will generate the revenue to support that amount,” she explained.
Practical training and export readiness
Yolanda Cutalele, information officer at the Small Enterprise Finance Agency, spoke about the importance of practical training for young agripreneurs.
“We offer training in food safety, conservation, market readiness, and even export readiness. Many small businesses have the potential to export their products; they just need the right support,” she said.
Cutalele added that proper business registration and documentation were essential, as these were often stumbling blocks for young people seeking funding or looking to scale up their businesses.
Capacitating young entrepreneurs for long-term success
Yandisa Jubase, outreach officer at the National Youth Development Agency (NYDA), said the agency provided business management training before issuing grants, as they wanted to prevent funds from being misused due to a lack of knowledge.
She added that the NYDA offered grants ranging from R1 000 to R200 000, with specific funding set aside for youth in agriculture.
“If your business isn’t properly registered, with a bank account and compliance documents, you won’t access support. We’re serious about creating businesses that create jobs,” Jubase said.
Building an inclusive agricultural economy
According to Jubase, young people need to take agriculture seriously as a career path and a means of building sustainable communities.
“Support is available, but young people must be proactive, compliant, and ready to build. Agriculture holds the potential to transform our economy, but only if we invest in our youth,” said Jubase.
