Many large South African corporates have established Enterprise Development Programmes and Supplier Development Programmes.
This act aims to address the widespread inequalities and discriminatory practices that were a part of South Africa's history before democracy. In addition to addressing inequalities that exist between racial groups and genders in South Africa, the act also serves to bridge the gap between large corporates and small businesses.Many large South African corporates have established Enterprise Development Programmes and Supplier Development Programmes in order to comply with legislation and contribute towards building a more inclusive working environment and nation.
While enterprise development emphasises overall business growth and capacity building, supplier development is more targeted towards improving suppliers' abilities to meet the procurement needs of larger companies, fostering long-term and mutually beneficial relationships within the supply chain. In addition, access to funding and resources helps SMEs scale their operations, improve cashflow management and expand their market presence. These programmes also promote collaboration and knowledge-sharing to help businesses thrive.
The programme provided NBX with a mentor to identify challenges and opportunities, resulting in a tailored growth plan focusing on organic growth, market reputation and access to funding.