Cape Town is Leading the Entrepreneurial Charge
The current entrepreneurial environment in Cape Town has seen some exciting new developments. Over the last years local, international and governmental institutions have come to the table to create what is called a new entrepreneurial ecosystem in the city. As design capital of the world, number one tourist destination in the world and the silicon valley of Africa, Cape Town has plenty to offer on the creative scene. Pairing this innovation and creativity with focused business skills and the right mind-set, the city is perfectly positioned to become an international business destination of note.
World Class Incubators
This being no secret, international business incubators and initiatives like Start-up Grind, 88MPH Business Incubator and Human IPO have established their presence here – with business support, mentorship and funding crossing the oceans with them.
Locally, the Silicon Cape Initiative, the Bandwidth Barn business incubator and Angelhub (to name but a few) are creating floor space, networking opportunities, access to finance and various other types of support for young companies never before available to aspiring entrepreneurs.
The Cape Town government has adopted the Activa initiative that creates a government funded portal for SME and start-up support. Free access to internet, legal advice, business mentors, board room facilities and much more are now at the hands of all entrepreneurs. Since its inception 10 years ago, this initiative has made founding city Barcelona the most entrepreneurial city in the world. The Western Cape Government is also on board – the sponsoring of UCT GSB and Knife Capital’s Find Make Grow Realise course for 30 companies being just one example.
Nationally, the DTI and its spin off initiatives like the Incubation Support Program, the Small Enterprise Development Agency and Small Enterprise Finance Agency have budgets of billions of rand authorised to support and stimulate entrepreneurship and start-up companies. Even CIPC has streamlined online company registration to just a few days.
A World of Opportunities Awaits
With all the stars aligned, the playing field has been set up for those ready to step up to the challenge. New markets will be created and tested here, with new companies and visionaries – the prospects for African expansion being the prize of those that succeed. Great momentum is building for entrepreneurship, and soon the dam walls will no longer be able hold back the flood of creativity and innovation that Cape Town has to offer. Doing well to establish itself as thought leader and problem solver, the power to change the African business landscape might just lie somewhere between the famous mountain and the blue ocean.
For budding startups and new businesses, setting up your endeavour from scratch can be daunting. At Outsourced CFO we offer a host of services to make your life easier; freeing you up to focus on your business while we handle the red tape and paperwork. Give us a call on 082 552 6527 or email us firstname.lastname@example.org to find out which financial services package will suit your new business best.