Standard Bank offers young entrepreneurs a year's salary to pursue side businesses
DURBAN - Standard Bank have launched an innovative campaign that will help South African fledgling entrepreneurs "turn their side hustles into their main hustles."
The name of the campaign is My Fearless Next.
The bank will be providing young entrepreneurs with funding that is equal to as much as a year's salary to encourage them to jump into the deep end and try to turn their side businesses into full-time businesses.
The competition is open to entrepreneurs that have a Standard Bank account and a running business. The winning entries will be picked based on their motivational letter, value proposition and potential business and market sector.
18 participants will be chosen and taken through boot camp to prepare and train them in entrepreneurship. At the end of the campaign, one winner will be chosen and assisted with an annual salary so they can grow their side business into their main business.
The overall winner of the campaign will receive up to a one-year salary capped at R1 million as well as mentorship from Standard Bank's business banking experts.
Through the journey the 18 participants will be mentored by business owners who took the leap into focusing all their time on their businesses and are now managing their own businesses.
According to Standard Bank, they have been asking South Africans to let them come along with their journey to their Next.
Catherine Munjoma, the Acting Head of Marketing for PBB South Africa said "In this journey, we’ll ensure that we are there to take care of your most pressing needs, to free up your time, so you can do what you do best; steer your start-up into a prosperous enterprise that contributes to the overall economy of South Africa".
- BUSINESS REPORT ONLINE