Samsung, together with the department of trade, industry & competition, has extended its Equity Equivalent Investment Programme (EEIP) campaign this year to focus on majority black-owned service centres in underserved provinces.
Applicants for this Enterprise Development (ED) programme support must have a minimum of three years’ experience in mobile device and/or consumer electronic repairs.
The Samsung EEIP ED programme is designed to help SMEs operate suitably funded, accredited service centres in urban or peri-urban areas with a sufficient retail footprint.
“By participating in this campaign, you could be one of the selected entrepreneurs to receive grant funding, specialist business development support, and access to Samsung’s service repair network, helping your service centre to grow and thrive,” says Samsung EEIP project manager Nicky Beukes.
NDP-aligned
Samsung recognises the critical role that SMEs play in SA’s economic growth and in creating jobs in line with the country’s National Development Plan (NDP) Vision 2030.
Addressing the JSE SME Rise Capital Matching Initiative Conference in February, minister of small business development Stella Ndabeni-Abrahams said the NDP Vision 2030 had set a target of generating 11-million jobs by 2030.
She noted that small businesses were projected to account for over 9-million of those employment opportunities.
The aim of this year’s campaign is to support participating service centres to grow sustainably, contributing to job creation and economic development
— Samsung EEIP project manager Nicky Beukes
EEIP ED programmes such as Samsung’s can help government achieve its ambitious employment goals.
“We understand the challenges that affect the growth of local SME service centres in the short to medium term,” says Beukes.
“Ultimately, the aim of this year’s EEIP Service Centre campaign is to support participating service centres to grow sustainably, contributing to job creation and economic development.”
Support beyond funding
SA’s service centre industry is highly competitive, and it can take years before profitability is reached. Sustainable volumes are therefore essential for long-term success.
SMEs face several challenges in this regard. Competition can reduce repair volumes, while vertical integration by larger players limits market opportunities. In addition, the improved quality of electronics means devices take longer to break down, reducing the need for repairs.
Samsung’s EEIP ED programme is designed to help entrepreneurs overcome these hurdles.
Beyond grant funding, participating SMEs gain access to supply chain processes that can contribute to their repair volumes, and to specialised equipment and genuine parts. They also have an opportunity to receive full accreditation from an original equipment manufacturer.
Together, these combined benefits equip SMEs to compete efficiently and grow sustainably.
Apply now
If you’re a service centre entrepreneur with at least three years’ experience and a majority black-owned business with strong growth potential, Samsung can help you take your business to the next level through its EEIP ED programme.
For more information on eligibility criteria and how to apply, visit the Samsung website.
Applications close on April 17.
This article was sponsored by Samsung Electronics.
