Business angel fund to benefit emerging entrepreneurs

Sunday 25th of March 2007
PLUS
“Everyone needs an angel” says Claudine Mouton, adding “Even the most successful entrepreneurs received help at some stage in their business careers”. Mouton is a founder of SMEs Compete, a firm established in March 2006 that celebrated its first anniversary earlier this month. Mouton launched the SME Business Angel Fund at the firm’s first anniversary celebration in Windhoek. On the occasion she accepted the first contribution of N$2,000 to the fund, proceeds from the auctioning of an abstract painting by her husband, local artist Werner Mouton.
A non-profit initiative that gives corporate firms and other benefactors a unique chance to effectively support small businesses by donating cash or equipment to carefully selected SMEs, the SME Business Angel Fund was conceptualized by SMEs Compete director, Danny Meyer. It recognizes and rewards exceptional business performance of emerging entre-preneurs.
Meyer, an entrepreneur stepped back from active business in 2001 to focus on enterprise and entrepreneurial development. Meyer says, “Despite being well endowed with resources above and below the ground, southern Africa will not develop fully unless entrepreneurship is permitted to thrive and the respective countries of the subcontinent become business and investor friendly”.  
SMEs Compete is the branding applied to local consulting firm, SMEs Competitiveness Consultancy (Pty) Ltd. The firm was borne of a USAID-funded programme which closed a year ago, in February 2006. With the support of USAID/Namibia and encouragement of the Ministry of Trade and Industry (MTI) SMEs Compete was founded in March 2006 by Meyer, Mouton and a third partner, Collin Gaochab. From humble beginnings the firm has steadily grown and its team now numbers nine. This is set to grow further with the establishment of a presence in Ongwediva and in Walvis Bay.
Part of a Public Private Partnership (PPP) between First National Bank (FNB) and the German development service, Deutscher Entwicklungsdienst (DED) SMEs Compete provides income growth and employment creation support to small and medium enterprises (SMEs). With its expertise in SME development, SMEs Compete identifies promising PPP projects and private partners, administers funds and assists in the implementation of the projects.
Representatives of financial service providers like FNB, Development Bank of Namibia (DBN), Namibia Asset Managers and Stimulus, mingled with academics, international donors, owners of SMEs and other supporters of SMEs Compete last week to celebrate its first anniversary over breakfast. Business icon Harold Pupkewitz, past president of NCCI, Navin Morar and the CEO of the Chamber, Tarah Shaanika also attended the celebration and launch of the SME Business Angel Fund.
Adopting the firm’s characteristic team approach, after an introduction of the firm’s personnel by Meyer, presentations were made by every member of staff. They went on to highlight various facets of the firm’s work during its first year of operations and shared SMEs Compete’s vision and ambitious plans for the future.
In addition to assisting SMEs at grass roots level, SMEs Compete has established key relationships with corporate firms. FNB, Skorpion Zinc and Namibia Development Foundation currently make use of SMEs Compete’s broad expertise. Another example of partnership relates to an initiative that Stimulus Trust took in 2006 to sponsor enterprise training in the northern regions of Namibia. Last year Stimulus also facilitated participation by SMEs at the Otjiwarongo Show. The relationship with DBN and Bank Windhoek stems from an SME Expo that SMEs Compete arranged last year.
Within a short year SMEs Compete has managed to assist over 300 SMEs, exponentially increase staff from three to 11 and provide training and skills empowerment to 546 individuals around the country. With the next business year already underway, SMEs Compete is looking to expand even further, with the main intention of creating employment and wealth whilst developing the local economy and increasing the standard of living for Namibia as a whole. To this end the firm will be establishing a presence in Ongwediva and in Walvis Bay during 2007.
In thanking the firm’s many supporters and clients, Meyer singled out the MTI for special mention. He expressed confidence that the working relation-ship that aims to compliment the work of MTI would extend further. MTI recently engaged SMEs Compete to provide monitoring and evaluation services.
Mouton will of course make sure that the SME Business Angel Fund also makes its mark. During the launch of the fund she urged corporate firms to support the initiative by donating office equipment, tools and furniture that may be surplus to requirements and tucked away in warehouses, for reallocation to SMEs who demon-strate high potential for growth.

Barbara Butchart and Uli Schmitt, the highest bidders with artist Werner Mouton - photo: Kristina Schmidt

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