Business development is essential for small and medium-sized enterprises (SMEs) to grow and succeed. It involves activities that help to identify and capitalize on opportunities for growth, such as market research, product development, and strategic partnerships. Business development can help SMEs to increase their customer base, expand into new markets, and develop new products and services. It can also help them to become more competitive and efficient, and to better manage their resources. By investing in business development, SMEs can gain a competitive edge and increase their chances of success.
Black Umbrellas is a project initially spearheaded by Cape Town social entrepreneurs Charles Maisel and Mark Frankel to support SMMEs.
In 2009, the Cyril Ramaphosa Foundation, then the Shanduka Foundation, partnered with Black Umbrellas to position the project on a national level. With a R5.2 million investment, Black Umbrellas set up and started operations in its Gauteng main office.
Black Umbrellas is an enterprise and supplier development (ESD) incubation organisation that partners with entrepreneurs, enterprises, investors and communities, to drive an inclusive and sustainable economic future by enabling the success of emerging SMEs.
The organisation focuses on developing qualifying businesses to a level where they can gain meaningful access to procurement, finance and networks and then facilitating access to these opportunities. This development takes place on a virtual incubation platform, an online portal that allows Black Umbrellas to deliver its business incubation programmes, job creation support and economic upliftment in an efficient, cost-effective, and sustainable manner.
Black Umbrellas has a physical presence in 6 provinces of South Africa and has a national footprint through its virtual incubation programme. Through Black Umbrellas’ international award-winning incubation programme, entrepreneurs are trained and developed to be sustainable and scalable businesses.
Cyril Ramaphosa, Patron of Cyril Ramaphosa Foundation, is deeply committed to the vision of Black Umbrellas as a catalyst in the development of entrepreneurs, a sector he has identified as critical to the empowerment of historically marginalised South Africans.
BAAB Media Group is delighted to have been selected to be part of this program for 3 months sponsored by Standard Chartered.