Implementing Small Medium Micro Enterprises’ development services platform to collaborate with experienced graduates in South Africa

Abstract

Small, Medium and Micro Enterprises (SMMEs), have been recognised as contributors to the development of economies. Despite their economic contribution, SMMEs keep facing several challenges, which lead to their collapse. In South Africa, most SMMEs hardly survive beyond the first three years after they have established (Maleka & Fatoki, 2016). Multidisciplinary researchers over the times have revealed that the fundamental challenges are due to lack of business advisory.

While unemployment is on a high in the country, South African corporates tend to lean towards learned candidates. The critical issue is either on how graduates could remain assertive and relevant, even if they are unemployed or on how they could remain competitive to climb the corporate ladder when they are employed. This research, therefore, aims at proposing a business venture because of the business opportunity stemming from the challenges faced by SMMEs and graduates.

This business venture proposal begins with providing a full synopsis of the proposed venture, followed by the literature review to contextualise the venture. Furthermore, a report of the research methods, including the sampling, the research procedure and the analysis undertaken are provided. The results are then presented. The venture proposal concludes with a presentation of the business plan emanating from the reviewed literature and the results of the conducted analysis.

The establishment of Rent Brains will address the critical challenges that many Small Medium Micro Enterprises experience and warrant the need to develop platforms to support SMMEs to ensure their sustainability and contribute to the economy positively. The business' presence is ascribed to the gap in the market for a platform to bind to the supply and productively demand the proposed venture. Studies uncovered that the platform will, subsequently make transactions between SMMEs and graduates conceivable, which would not be conceivable without the platforms, while at the same time making an incentive for the two sides. The business is a two-sided marketplace that tries to enhance the coordinating of SMMEs owners with graduates in the different areas of their value chain