Local small businesses contribute to the growth of the country’s economy, yet ONLY three out of ten have a chance to survive. To address this challenge, J&B Hive hosted a panel discussion on Sunday 17 November 2019 with South Africa’s thought-leaders and entrepreneurs to discuss various ways in which consumers, communities and large enterprises can best support and address the critical state of small businesses to kickstart Global Entrepreneur Week (GEW).
The panel discussion consisted of popular businessman DJ Sbu as well as Sibusiso Ngwenya; mastermind behind SkinnySbu Socks, Nubian Bride Magazine creator, wedding & event planner; Precious The Planner and the founder of Brownsense Mzuzukile Soni. Joining the panel was J&B Hive members Lethabo Mokoena of Walkfresh, Bedoo’s creator Nombusio Nkosi and Sthe Mpehle Head of Dipopaai who shared their experiences as small business owners and some of the challenges that they face in the South African economy.
In October 2019, Statistics South Africa sent a shock when it announced that the unemployment rate in South Africa was standing at 29.1 percent, the highest it has ever been since comparable data began in 2008 and yet small businesses are said to be the engine that will stimulate job creation.
The J&B Hive takes a stand during GEW by encouraging South Africans to play their part and support small businesses by procuring locally. The pledge is part of an art installation in the form of mannequins where three out of ten mannequins were standing, while the rest are lying on the ground to highlight the contrast between businesses that succeed (30%) and those that fail (70%).
A catalyst for creative entrepreneurs and innovative small business hub based in Braamfontein, Johannesburg, the J&B Hive is about disrupting the status quo and pushing boundaries with the goal of seeing young businesses thrive and change the economic trajectory of the country.
“The J&B Hive has garnered a well-deserved reputation as the creative nerve centre of Johannesburg, where entrepreneurs and young businesses are incubated in a space that encourages creativity, innovation and disruption. The activity during Global Entrepreneur Week reinforces the many strides made by J&B Hive where small businesses and entrepreneurs on the rise is concerned,” says Nana Akua Twerefoo, J&B Whisky Senior Brand Manager.
During GEW in November, South Africa joins over 170 countries in bringing awareness and supporting local businesses.
J&B has been proudly accelerating local business since 2015 through the J&B Hive – a collaborative space that is a creative hub and local business accelerator. J&B is so committed to elevating local businesses that the brand has given its advertising space to entrepreneurs to shine a spotlight on their businesses. With GEW, this means giving creative businesses a platform to remain authentically local while speaking to a global audience, a feat most would not have been able to achieve.
South Africans are encouraged to visit the installation in Newtown Junction from Sunday 17 November to Sunday 24 November and take a pledge to support entrepreneurship.