Question

Two ways in which young entrepreneurs can benefit from th Black industrialist scheme

Answer 1

Two ways in which young entrepreneurs can benefit from the Black industrialist scheme  are as follows:

• To gain the access to the private banking sector and finance, by equipping with the necessary equity BIP will enhance  Black Manufacturing enterprises. Black industrialist will be assisted by BIP to get entry into capital market.
• To ensure about the capacity to explore the overcrowded market, BIP will address the limited marketing capacity and research.

Answer 2

Black industrialist scheme

Two tools were given by the Black industrialist scheme in which young entrepreneurs can benefit are as follows:

There were two tools you needed to enter a market.

• The first was the need for capital. The Department wanted to unlock this mechanism and provide combined public funding from all development finance institutions, including Industrial Development Corporation (IDC), National Empowerment Fund (NEF), Landbank, Public Investment Corporation (PIC) and DTI.
• The second requirement was access to the market. Take the taxi industry, for example, black people had access to the market and were able to meet the demand for means of transport, and the industry flourished. In many other sectors, however, they lacked the channels for working with government and established private companies.

The ministry wanted to make market access easier, especially for state-owned companies.

Learn more about this scheme

What is black industrial scheme

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