Held at the Nelson Mandela Bay Business Chamber premises, June 27th. Bongani Lukhele from Standard Bank led a very informative engagement with the attended SMME's from the metro to close the gap between the required assistance by small businesses and the services they as a bank offers. The engagement commenced with the announcement of 50 licenses that are spared by the bank for SMME's who would like to join Standard Bank's online mentorship program designed to empower small businesses and their owners.

Mr Lukhele, from Standard Bank took both the face to face and virtual audience through their 2022 Enterprise Development Strategy Plan that consists of four pillars they offer to support SMME's, and these are 'Purposeful Funding, Construction, Public Sector, Advisory and Mentorship'. The mentioned pillars are products tailor made specifically for SMME's as they have less formalities to be followed before assistance is offered, and the aim is to give SMME's a step up to accessing financial aid and coaching assistance, simultaneously. Mr Lukhele further explained the criteria and exclusions in accessing the products, including the deliverables and possible time frames for approved applications in the process.

Besides the financial aid the bank offers to small businesses the SMME's also raised their interests in other banking services, which may not only require funding but equipping them on how to invest their own profits. This was a very valid and vital conversation as entrepreneurs do not always need the exposure to funding but education on how to multiply what they have in their accounts, it could be buying of shares, long-term investments and other means to grow their profits, and yes Mr Lukhele advised the audience to start utilizing the access they have to the bankers and have intentional complex conversations about their business funds and profits.

At the end, entrepreneurs in the room were very grateful of the opportunity the Nelson Mandela Bay Business Chamber brought to their attention, as they agreed such sessions are of great importance to their journey. To wrap it up The Nelson Mandela Bay Business Chamber SMME Desk representative Lunga Mjodo is encouraging entrepreneurs around the metro to join the SMME Desk and acquire membership so they cannot miss on these sessions and their benefits.

For more information contact: Lunga Mjodo ( smme@nmbbusinesschamber.co.za )