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BT Global Services continues support for MEDO, boosts SA entrepreneurship
The South African development group for small businesses, MEDO, recently announced that, together with the continued support from UK telecom giant BT Global Services, it will be continuing its international programme to further promote local entrepreneurs.
Earlier this year, a group of 15 chosen South African entrepreneurs returned from their trip to the UK. The aim of this annual trip is for small local businesses to gain international exposure as well as receive adequate business training and mentorship.
The latest initiative was the organisation’s third such endeavor and Bjarke Gotfredsen, Joint CEO & Co-founder of MEDO has noted the programme’s positive uptake so far. “Our first tour had a success rate of 20%, our second 50% and this one I would say anywhere between 70 to 80%.”
It’s to no surprise then that BT Global Services will remain keen with its support of this programme. In a recent press release, CEO Joanne Shields from BT Global Services says, “I am excited and committed to the programme of support into next year.”
Shields says that “It is important to grow entrepreneurs and BT Global Services would like this growth to extend to these entrepreneurs becoming suppliers to our business. In fact we are already using someone as a supplier who benefited from this programme.”
Martin Springer, who previously headed leadership of the MEDO trip in the UK, says “The programme has reached a point where it must now be formalised with partners.”
Springer also notes that “We all have a duty to try to grow small businesses in this region. We need to develop people and their skills for our business. BT Global Services supports 12 programmes and eight bursaries.”
One of the participants who took part in the 2014 programme, Josias Motsoeneng from AC Electromech Maintenance Services, notes that South Africa has a higher failure rate because entrepreneurs are not given that type of support. He says that “Since starting with MEDO through their programme, our company has taken a turn and we have increased our turnover by more than 100% in two years. MEDO takes incubation to a different level.”
On a side note, MEDO has also launched a 24/7 call centre to assist entrepreneurs covering everything from legal and financial advice to PR and marketing.
