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A Fin24 user wants to know if enterprise development body Medo caters for all applicants. He writes:
Does the Micro Enterprise Development Organisation (Medo) accept both black and white applicants on this training programme?
If this is not the case, then this organisation is biased.
Business development consultant Anton Ressel responds:
On their website, Medo state that they support businesses with 50% black ownership.
While you may feel this is biased against white-owned businesses, it is important to note that they, like most business incubators, rely on corporate enterprise development (ED) and state ED funds to cover the costs of their programmes - and the black economic empowerment laws governing the utilisation of these funds are clear that the beneficiaries must be previously disadvantaged individuals.
There are other business support structures that do assist white-owned businesses, but there are usually some provisos.
As an example, the Old Mutual-funded Legends programme will accept white-owned businesses if they can show that they are making a positive social impact, or providing employment in areas where job opportunities are few.
The Small Enterprise Development Agency Seda also supports businesses across the entire spectrum.
- Fin24
Share your experience of setting up a business or simply ask a question. Our business panel can put you on the right path.
Does the Micro Enterprise Development Organisation (Medo) accept both black and white applicants on this training programme?
If this is not the case, then this organisation is biased.
Business development consultant Anton Ressel responds:
On their website, Medo state that they support businesses with 50% black ownership.
While you may feel this is biased against white-owned businesses, it is important to note that they, like most business incubators, rely on corporate enterprise development (ED) and state ED funds to cover the costs of their programmes - and the black economic empowerment laws governing the utilisation of these funds are clear that the beneficiaries must be previously disadvantaged individuals.
There are other business support structures that do assist white-owned businesses, but there are usually some provisos.
As an example, the Old Mutual-funded Legends programme will accept white-owned businesses if they can show that they are making a positive social impact, or providing employment in areas where job opportunities are few.
The Small Enterprise Development Agency Seda also supports businesses across the entire spectrum.
- Fin24
Share your experience of setting up a business or simply ask a question. Our business panel can put you on the right path.
