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Entry date for the SME Development competition by ABSA has been extended to 6 June 2022

Entry date for the SME Development competition by ABSA has been extended to 6 June 2022

We are pleased to announce that the entry date for the SME Development competition by ABSA has been extended to 6 June 2022. 

Small and medium enterprises (SMEs) are the cornerstone of every economy and community. The automotive aftermarket sector is key in the automotive industry. In 2019, we launched our SME Den to encourage and give industry players the opportunity to present their businesses to our industry specialists and to explain how the SME Den can help them reach the next level. We will have the competition this year again at Automechanika Johannesburg – South Africa’s premier trade fair – at the National Exhibition Centre from 7 to 10 June 2022.

The aim of the Small Enterprise Development competition is to find the best aftermarket SME business in South Africa from a selection of categories, and use Automechanika Johannesburg as the platform to honour the pioneering prowess of each winning business.

Entries will be judged by an independent jury of highly qualified and respected automotive experts representing recognised organisations and representative bodies within the industry.

The panel will score business proposal on  predetermined list of criteria which is inclusive of business viability, opportunities, and, innovations.

In keeping with the latest automotive trends, the categories of the 2022 competition have been streamlined.

The 10 categories in respect of which products can entered are:

  • Parts
  • Accessories and customising
  • Driver assistance and safety
  • eMobility
  • Data and connectivity
  • Diagnostics and tuning
  • Repair and maintenance
  • Original equipment products and services
  • IT and management
  • Service station and car wash equipment.

How to enter

Entrants are requested to email the following on or before midday on 6  June 2022:
Only Short listed candidates will be contacted on the 7th of June 2022.

Requirements

  • A detailed business plan
  • PowerPoint presentations
  • Financials reports of business
  • Business must be owner operated
  • Registered business (CIPC) entity owned and operated for a minimum period of two years in the automotive sector
  • Minimum financials for the past year
  • 51% or more black-owned

Owner must have a South African identity document to indicate citizenship
Business turnover should be less than R10 million per annum. Each entry must also include the email address and telephone number of the person responsible for the submission, as well as details of the SME that they represent.

There is no entry fee.

Entries must be sent to the competition’s convener, This email address is being protected from spambots. You need JavaScript enabled to view it., application/entries will be accepted at the venue. Queries or requests for additional information on the SME Den can be sent to the same email address.

Exclusion

No franchise businesses
No multiple branches business

How

  • The shortlisted  business representative will present to a panel of judges on the day at Nasrec, only 2 representative will be allowed into the venue for the presentation 
  • You will be allocated 10 minutes to pitch your business and 5  minutes for questions and answers.
  • Only shortlisted candidates will be contacted to attend the final presentation at Nasrec, Johannesburg between 7th and 10th June 2022
  • All Covid protocols to be observed
  • Travelling and accommodation cost are not covered

Prizes to be won
What we offer to winners - 70% of the each price will be provided for as cash  (working capital) and 30% be made available in respect of equipment needed by the SME. Absa Enterprise Development team will  provide a Four months’ mentorship (based on business gaps/needs) for the business owner (top four winners).

Breakdown of prizes – Total R350 000

First prize: R130 000
Second prize: R100 000
Third prize: R70 000
Fourth prize: R50 000
NB* Prizes will be allocated on 70% working Capital and 30% for Equipment

Winners will be announced on 10th  June 2022 at Nasrec, Johannesburg, at the Absa Bank Limited stand. You have to be present to receive your prize.

Terms and conditions apply. Exclusions and Emissions. 

Click here to ENTER

 

 

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