Startups that participate in the five minute survey stand a chance to win one of three business support packages valued at R30,000 each, one of two seats on an accelerator programme valued at R15,000 each and one of five places on an entrepreneur boot camp valued at R5,000 each.
The survey targets startup entrepreneurs who have been in business for less than five years.
“This year, we want to build on the benchmarks established last year by determining the success rates of entrepreneurs in different environments such as urban, township and rural environments. We will also establish the sectors in which entrepreneurs operate, as well the markets in which they are building their businesses – business to business (B2B), business to consumer (B2C) or business to government (B2G). Finally, we will consider the success rates of local compared to foreign entrepreneurs participating in the SA ecosystem,” said CEO of Seed Academy, Donna Rachelson.
Rachelson says that there’s not enough support for entrepreneurs in SA, a message that was echoed in last year’s survey that revealed that 70% of respondents required funding to grow their businesses, while other entrepreneurs highlighted the need for IT support and governance support.
According to the Seed Academy, the development of entrepreneurs and nurturing of start-ups through training and incubation is vital so that the right skills and mind-sets are developed for greater success.
“The National Development Plan (NDP) places a huge expectation on small business given that the plan expects small and expanding companies to deliver 90% of jobs by 2030.The results of the survey will provide valuable data for government to enhance the startup ecosystem in South Africa by outlining exactly what the status quo is and where the most urgent interventions are required,” concluded Rachelson.