Start-up support shows mixed success
Business development support is supposed to help entrepreneurs get their enterprises off the ground. It’s had mixed success
"Don’t be egotistical about owning 100% of your business," says Candice Thurston, CEO and founder of Candi & Co. It was through a partnership with beauty franchise Sorbet — not discounting her experience in marketing and branding at companies such as MTN and Unilever — that she was able to give life to her vision of running an ethnic hair and beauty salon. Four years on, Candi & Co operates seven stores in Gauteng and has served thousands of customers. Digital payments company SnapScan presents a similar picture of the payoff that can come from solid corporate backing. When mobile payments firm Firepay launched SnapScan in 2013, Standard Bank provided support, processing payments for the platform. The partnership gave the start-up much-needed visibility, as well as access to Standard Bank’s substantial client base. It proved so successful that the bank bought a controlling stake in Firepay in 2016, and SnapScan now operates as an in-house Standard Bank product. For years, the govern...
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