Local entrepreneurs focus on igniting business growth to combat the ongoing economic impacts of load shedding, the economic downturn, and the cost-of-living crisis
Private enterprises and government collaborate to create SMME opportunities in the Harry Gwala District Municipality, with a focus on connecting local talent with national customers to ignite growth, and retain and expand local business. The initiative aligns with the Harry Gwala Development Agency’s plans to address the micro and simultaneously the macro-economic outlook.
Local businesses maintain near together in the small town of Ixopo (KZN), collaborating to create opportunities for small businesses and entrepreneurs in an area severely impacted by the social unrest of July 2021 and the ongoing complexities of the current economic climate. A recent business hub has evolved from this collaboration and is changing the way people carry out business and gain financial stability. This hub was created as an initiative driven by local brands, Bowlers Panel Shop, Glamco Ixopo & Bloom Salon, in an effort to revive the economy.
The initiative comes at a critical time for the region. The social unrest in July 2021 affected the majority of local municipalities and the destruction caused by looting and torching hit more than 223 businesses with a projected economic cost of R674,431,000 and 2,858 job losses. This was on top of the damage caused by the floods, and the ongoing socio-economic impact of the pandemic.
Currently, the primary economic drivers in the district include government at 25.33%, agriculture (17.51%), retail trade (15%) and transport (12.53%). Today, the initiative to ignite growth in the district is supported by local entrepreneurs from the area in support of the Harry Gwala District Development Agency. The goal is to improve the macro-economic outlook of the district, restore the local economy and engage with investors and customers. The formation of The Square on Grant is portion of this initiative and is closely aligned with the objectives of the Harry Gwala District Economic Recovery Location that’s focused on shared growth, community and working with key local shareholders to bring prosperity to the region.
“Local business, when harnessed, serves to create, and transform local economies into diversified, inclusive and sustainable wealth generating economic systems that promote SMME’s whilst simultaneously contributing to the social economy. The uncertain economic climate, reflective in increased job uncertainty, unemployment, and rising costs of living, places an obligation on government, business and communities to reimagine our local space to become areas that embody the formation of inclusiveness and vibrancy to attract and retain local spend,” says Antionette Whyte, CEO of Harry Gwala Municipality.
The Square on Grant, situated in the business centre of Ixopo in Grants Avenue provides business owners with a space from which they can work using the dedicated Wi-Fi area, collaborate with one another to drive innovation and growth, and explore recent business opportunities – and is a first for the area. It includes a coffee shop, a hair and beauty salon and an innovative local franchise focused on aesthetic beauty treatments, Glamco. Forming fraction of The Square on Grant, there is also The SOOQ, a collaborative initiative that provides entrepreneurs and small businesses with this first-of-its kind ‘physidigital’ concept store in the region from which to list and sell their products, and where locals can purchase in store and space orders online and collect from the store with multiple ways to pay. The SOOQ is committed to helping companies flourish and grow in spite of ongoing economic and environmental complexities.
“Loadshedding, the cost of living, the state of disaster, the pandemic, and the fluctuations of the economy gain all had a severe impact on entrepreneurs and business growth,” says Gareth De Jager co-founder of the SOOQ. “We saw a need to create a platform from which business owners can grow their businesses as they can leverage their online presence on the SOOQ to reach a wider market, both nationally and abroad.”
The SOOQ is Proudly South African and only supports local entrepreneurs and supplies only local products. It is a dedicated and collaborative ecosystem designed to redefine economic growth in the region while inspiring local entrepreneurs and businesses.
“Products from all over the country will be available in this first-of-its kind ‘physidigital’ concept store for the region,” says De Jager. “We hope to allow other small businesses from the region a space where they can offer their items in the physical store which automatically gives them access to presence on the online store. This extends their reach beyond Ixopo to a national audience. For us, collaboration is critical in today’s economic climate, especially if we are to go the needle on economic growth within SA.”
As Whyte concludes: “Albeit the existing challenges, the initiative of The Square to create and support the clustered model is encouraging especially as it seeks to leverage on inclusiveness and the strengthening of rural-urban linkages. At a fundamental level, the business hive seeks to realise meaningful transformation by restructuring space to achieve increased efficiency, spatial justice and equity through the provision of a multi-dimensional enterprise ecosystem thus ensuring that individual businesses contribute to and can benefit from the clustered model. Moreover, the establishment within a Wi-Fi free zone is ingenious as it acknowledges the digital economy and the provision of the critical link which allows for produce and products to be linked to consumers.”
Some of the shops taking up residence in the space include:
- Coffee on Grant, providing the first-ever barista quality coffee in a dazzling and relaxing environment along with free Wi-Fi.
- Bloom Hair & Beauty Salon that specialises in unisex haircuts, colour and highlights and speciality treatments and cornrows.
- GlamCo Paunchy Freeze & Aesthetics with FDA-approved, non-invasive real alternatives to paunchy reduction surgery with stout freeze, paunchy loss injections, ultrasonic cavitation and more.
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