Hospitality association, FEDHASA, launched its non-profit business incubator programme yesterday (Tuesday, May 9) at Africa’s Travel Indaba – held at the Durban ICC this week.
The programme, modelled on several successful initiatives under way within the tourism sector, will specifically cater for the value chain of the South African hospitality sector, seeking to drive sustainable economic growth and job creation amidst the nation's high unemployment rate.
Further aimed at fostering innovation, supporting entrepreneurs and bolstering the hospitality sector's B-BBEE transformation agenda, the FEDHASA business incubator comes as the industry emerges from the challenges posed by the COVID pandemic.
By offering Enterprise and Supplier Development services to FEDHASA members, the programme will also strengthen the sector's collective transformation efforts in a streamlined, ISO 9001:2015-accredited manner and be fully tax-deductible for members.
"We believe that the hospitality industry has immense potential to contribute to South Africa's economic growth and job creation, particularly in light of the current unemployment crisis," said Rosemary Anderson, National Chair of FEDHASA. "Our incubator programme will help empower entrepreneurs and support businesses throughout the value chain, fostering the growth and resilience of the South African hospitality sector."
The innovative incubator model, driven by enterprise development and impact specialist Sigma International and Natalia Rosa, CEO of Big Ambitions, in partnership with FEDHASA, will allow members to redirect a preferred percentage of their Enterprise Development (ED) or Supplier Development (SD) investment spend, enabling a higher impact on the industry and broadening transformation buy-in and reach.
FEDHASA members would sponsor a set number of beneficiaries per financial year and provide tailored, needs-based programmes for each beneficiary and their businesses. This initiative will support the development of small, medium and micro enterprises (SMMEs) that are at least 51% black-owned, thus advancing transformation in the hospitality sector.
Anderson confirmed that the incubator would be industry-led, allowing member staff to participate in the beneficiary selection process and transformation journey guided by their employers (should they choose). FEDHASA will also be able to nominate beneficiaries on a business's behalf, considering the intentions of their transformation spend.
FEDHASA is partnering with Sigma International, a level 1 B-BBEE company with a proven track record in establishing successful business incubators across various sectors, including tourism, mining, forestry and paper. All the Sigma International incubators are ISO 9001:2015 accredited.
"Our collaboration with FEDHASA will build on the success of our existing business incubators, which have already impacted over 300 beneficiaries across the entire tourism value chain nationwide," highlighted Akash Singh, CEO and Co-Founder of Sigma International. "We are excited to expand our reach within the hospitality sector and look forward to seeing these make a difference within the sector in the years to come. What makes the timing of FEDHASA incubator special and impactful, is that we can extend linkages to beneficiaries and funders, across the five other tourism incubators we currently have in operations.”
