The company has put aside three million rand for the programme this year. Entrants need to be between the ages of 18 and 35 years, and have an existing small business or business idea.

Since its inception in 1994, SAB KickStart has benefited more than 22,800 young entrepreneurs, and helped to start or grow more than 3,200 businesses through an investment of more than 62 million rand in grant funding. SAB estimated that each business started created an average of 6.7 jobs.

SAB said the SAB KickStart model was designed to develop sustainable and successful black youth-owned businesses through a programme of outcomes-based business skills training, mentorship and start-up capital.

"Many of our youth lack the experience, skills and education to access employment in the formal sector. Through SAB KickStart's comprehensive approach, we can successfully address this issue," said Vincent Maphai, SAB's director of corporate affairs and transformation.

SAB said entries for the programme would be carefully scrutinised, and only existing businesses and business ideas considered with the potential to become viable and sustainable businesses would be selected to participate in the competition.

The company added that the selection process would focus on the individual behind the ideas as much as the growth potential of the business.

Entrants are asked to visit www.sabkickstart.co.za. Entries close on June 28.