Business incubators breeding success
SA’s 120 start-up and early-stage business incubators play a crucial role in providing entrepreneurs with the business and other skills needed to give them a fighting chance
SA desperately needs to create jobs, a task for which small and medium-sized enterprises (SMEs) are eminently suited. The big challenge is that most would-be entrepreneurs lack many skills needed to succeed in business. That is where SA’s 120 start-up and early-stage business incubators play a crucial role: providing entrepreneurs with business and other skills needed to have a fighting chance. There’s no shortage of people wanting to start a business. “We continually see many people with great ideas,” says Nick Allen, founder and CE of Savant, a tech hardware start-up specialist. Savant, now in its 11th year, has enjoyed remarkable success, with 89% of start-ups it has helped having become commercial successes. Contrast that with about 80% of start-ups that fail in their first year. Among Savant’s successes is Leatt Lab, which designs, manufactures and exports protective gear used in high-impact sports. Today Leatt is listed on the US Nasdaq market and generates annual revenue of R...
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