10 OCTOBER 2024

SBS expands Small Business Academy to East London

Stellenbosch Business School recently celebrated a significant milestone with the launch of its Small Business Academy (SBA) in East London.

Stellenbosch Business School recently, in September 2024, celebrated a significant milestone with the official launch of its Small Business Academy (SBA) in East London. This new branch of the SBA, led by Dr Armand Bam, represents the business school's commitment to empowering small business owners across South Africa, particularly in marginalised communities.

The SBA’s nine-month development programme provides small business owners with theoretical knowledge and practical skills to navigate the complexities of the business world.

During the launch event, hosted at the Blue Lagoon Hotel, Dr Bam delivered a compelling keynote address highlighting small businesses' vital role in driving economic growth and creating opportunities. He noted that Small and Medium-sized Enterprises or SMEs contribute over 60 per cent of employment and nearly 34 per cent of GDP (Gross Domestic Product) in South Africa, stating, "Small businesses have been the backbone of our economy, both in the past and today. Their impact is immeasurable."

A total of 28 students are part of this intake, thanks to partnerships with the Eastern Cape Development Corporation and the Border Kei Chamber of Business. This initiative has been years in the making, with key role players like MBA alumnus Punam Harry Nana and Grant Sinclair instrumental in setting up this cohort.

"Small businesses are the architects of our economic future, and the impact they have on our economy is immeasurable," Dr Bam emphasised, underlining the pivotal role that entrepreneurs play in shaping the country's economic landscape.

He also highlighted the importance of collaboration between government, academia, the private sector, and civil society in creating an ecosystem where small businesses can thrive. He called for partnerships that support SMEs, stating, "It is through collaboration and partnerships that we can unlock these possibilities, turning potential into reality for our small businesses."

The launch of the SBA in East London extends Stellenbosch Business School's reach, bringing its expertise and support to a region where economic empowerment is critically needed.

"This academy is about equipping individuals with the capacity to adapt, innovate, and thrive in an ever-changing world," Dr Bam said.

Through this initiative, Stellenbosch Business School aims to bridge the gap between education and economic empowerment.

"This programme is about equipping small business owners with the tools they need to defy the odds and succeed. The SBA is designed not only to provide participants with formal business education but also to empower them to contribute meaningfully to their communities and the broader economy."

As he concluded, Dr Bam encouraged participants to make use of every opportunity while engaging those they encounter during the programme to build a brighter, positive, enriching, and fulfilling future for themselves, their communities, and possibly generations to come.

Source: The internationally accredited Stellenbosch Business School offers MBA, Master’s, MPhil and PhD programmes as well as executive education programmes – all focused on the development of business leadership. Visit our web-site at: https://www.stellenboschbusiness.ac.za/.