Despite the economic effects of the pandemic, 46 SMEs from across SA’s property sector have graduated from Property Point’s enterprise-development scheme.
The SMEs collectively generated total revenue of more than R377 million and created 325 full-time and 558 part-time jobs during the course of the two-year programme. A Growthpoint Properties initiative, Property Point provides entrepreneurs in the sector with skills, training and personal-development support to grow their businesses into fully independent companies.
The virtual graduation ceremony was held against a backdrop that saw almost half of SA businesses indicating, a month into the lockdown, that that they could not continue operating during the lockdown due to financial constraints. ‘2020 [has been] filled with extreme difficulties, which have made the already challenging journey of entrepreneurship even more gruelling,’ says Growthpoint CEO Estienne de Klerk. ‘The determination and creativity of these entrepreneurs has shown that the country has the potential to become a hotbed of rapid-growth SMEs.’
Since the programme’s inception in 2008, 258 participating businesses have contributed a cumulative R1.5 billion to the country’s GDP, and created 2 683 full-time-equivalent jobs.