THREE YOUTH BUSINESSES FLY WITH RES

MHLUME – RES has awarded E100 000 to best three youth start-up businesses.

New products and services created by entrepreneurs can produce a cascading effect, where it stimulates related businesses or sectors that need to support the new venture, furthering economic development.
Contribution to the socio-economic development of the country continued as RES honored the best 3 contestants of the RES Youth Entrepreneurship Support (YES) initiative with a sum of E100 000.
In total the sugar company has financially supported six young people to kick-start their businesses.
RES in partnership with Junior Achievement (JA) Swaziland awarded the top three finalists who had outstanding business plans in the program which started early this year.
First to congratulate this year RES Youth Entrepreneurship Support programme was JA Eswatini Executive Director Sboniso Madlopha.
“Today we starting a new journey for all the participants of the program. Being part of this programme is not about the prize money but the business idea that got you into this competition. You are all entrepreneurs and that makes you all winners,” Madlopha said.
“The relationship between entrepreneurship and economic development is important to understand for policymakers and business owners. Understanding the benefits and drawbacks of entrepreneurship allows a balanced approach to nurturing entrepreneurship to be taken, which can result in a positive economic and societal impact.”
Madlopha wished well all the participants in their future endeavours and further assured that JA’s support will always be availed to them for guidance purposes.
RES MD Nick Jackson said; “Today we are awarding E100 000 to kick-start 3 businesses as a way to encourage the winners to proceed with their business ideas and make them a success. 2017 being the inaugural year we emerge with a lot of erudition on how to improve the program in the coming years, we are grateful to all those involved in the project.”
“Over the past three years, 2019 inclusive, E320 000 has been paid out to support the youth to kick-start their businesses. Entrepreneurship is key to the country financial stability. Similarly, future development efforts in underdeveloped countries require robust logistics support, capital investments, and a qualified workforce. From the highly qualified programmer to the construction worker, entrepreneurship benefits a large part of the economy.”
Jackson also applauded the judges for the tireless efforts in making sure that project was a success through their input and hard work despite minimal knowledge on what to expect.
This year Simiso Masilela (Technology - Wifi Installation) received the 1st prize of E50 000, Melody Dlamini (Farming - Seedlings Production) went home with the second prize E30 000 and Musawenkhosi Dlamini (Services – Laundromat) came third to scope the E20 000 prize money.
The best three from the program are; Nomile Tsabedze -1st prize E50 000, Nomfundo Mabuza – 2nd prize E30 000 and Philile Dlamini – 3rd prize E20 000. 
The objective of the project is to create business opportunities and reduce unemployment rate among out of school youth within the RES neighbouring communities which include Vuvulane, Tambankulu, Tsambokhulu and Tshaneni to name a few. 
“Everyone is a winner because of the training, mentorship and experience of the competition. The program also aims at capacitating the contestants beyond the competition and ensure sustainable livelihood to combat challenges often faced by young people such as unemployment,” Jackson said.
The project driver, RES’s CSI Manager Phindile Lukhele-Dlamini congratulated the top 30 participants for their dedication since the initiation of the project.
“Mostly I would also like to thank the MD for his continued support from the beginning of the project up today and not forgetting JA the partnership. Youth please do not give up on the businesses but ensure that they succeed and become bigger and better.
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Youth Enterprise Revolving Fund Invites YES participants to apply for funding
MHLUME – “SMEs are integral to the fabric of our economy contributing a reasonable percentage of our country’s national GDP. The YERF is deeply invested in providing access to credit to small merchants and entrepreneurs through the E7 million from the government, in which we are the ones regulating it.”
YERF Fund Manager Bhekizwe Maziya said during the prize presentation of the RES YES.
“I would like to encourage and invite the participants of this programme to come and apply at the fund mostly because we have funded some businesses from participants of this programme. RES has provided a good platform for the youth of Eswatini and we are proud to be partners with such corporations.”
Maziya further commended the sugar company’s Managing Director for investing in entrepreneurship where he cited that it will ensure that the country achieves the 2022 first world status vision by fighting the high rates of unemployment through entrepreneurs. 
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Youth Urged to Register their Businesses
MHLUME - Business registration is very important as it establishes the business as a legal entity. Without business registration, a company cannot be legally considered and will not be protected under any grievance procedures.
Registrar of Companies Msebe Malinga put emphasis on the importance of company registration during the award presentation of the RES YES programme.
“When you apply for small business loans, you are going to have to prove that you are actually a business. Lenders and investors will ask to see your business registration along with other application requirements before approving you for a loan.” 
“Customers and clients, especially people you have never worked with before, need assurance that you are a legitimate business. A potential client may suspect your business of being a "fly-by-night" operation if your company is not properly registered. When a business is on file with the state, it could put your clients at ease when making a decision about whether to spend money with your company,” Malinga said.
The registry of companies recently introduced an online registration platform for businesses in Eswatini and an electronic company verification system for financial institutions together with a mobile tracking system for businesses. 

New businesses can now be registered online and be issued with an acknowledgement of company registration through simply accessing the direct link on https://www. gov.online