The 2018 SME Toolkit BUSINESS/PARTNERS Business Plan Competition for Aspiring Young Entrepreneurs has announced Lucky Shabalala as the regional winner for Johannesburg after submitting his business plan for his company, Entertainment Neighborhood – a video gaming company.
Entertainment Neighborhood provides the use of video gaming facilities at R10 per hour to individuals from low-income households in the townships of Vereeniging. Shabalala started the company by using his personal gaming console which he set up outside a local hair salon. Today, Entertainment Neighborhood consists of eight PlayStation 4 consoles, eight UHD TVs, and 32 video games.
“Now in its 9th year, the competition aims to promote South African entrepreneurship amongst individuals between the ages of 18 and 35, by bridging the gap between simply having an idea, to actually launching a start-up business,” says Petro Bothma, Group Enterprise Development Manager at Business Partners Limited and Program manager for SME Toolkit South Africa.
As part of the free-to-enter competition, Shabalala joined young entrepreneurs across the country by taking part in one of the 18 regional business workshops on the intricacies of compiling a business plan and managing the many functions of running a business. Following the workshop, each entrant was invited to submit a complete business plan to the competition judging panel.
“The business plan for Entertainment Neighborhood was chosen as it was well presented, informative and comprised all the essential sections required. It also showed Shabalala’s aim to grow the business further and make affordable video gaming facilities available in various low-income communities, thereby providing consumers with entertainment as well as the opportunity to pursue professional careers in gaming,” says Petro Bothma, Programme Manager of the SME Toolkit SA at Business Partners Limited (BUSINESS/PARTNERS), who was speaking at the regional awards ceremony held on 31 October 2018.
Each regional winner is awarded a mentorship support voucher to the value of R6000, as well as introduced to valuable business networking opportunities to assist them with growing their fledgling businesses, Bothma adds.
The SME Toolkit BUSINESS/PARTNERS Business Plan Competition for Aspiring Young Entrepreneurs competition received 800 entries for young entrepreneurs across the country, after which, 100 business plans were submitted for judging. Eight regional winners will be selected from across the country, and will then contend for the overall national title which will be announced at an awards ceremony held in Johannesburg later this November.