In a world where big corporations dominate the market, Woolworths is standing out as a beacon of hope for small and medium-sized businesses across various industries.
With a focus on food, fashion, beauty, homeware, and the services sector, Woolworths is not only a retail giant but also a valuable partner for entrepreneurs looking to make their mark.
In a significant move to stimulate inclusive growth in the South African economy, Woolworths has increased its support of small and medium enterprises (SMMEs) by a staggering 42 percent over the last year, totaling R4 billion.
This effort, part of Woolworths’ Inclusive Justice Initiative (IJI), demonstrates the retailer’s commitment to doing good business for its customers, people, and communities.
According to the Small Enterprise Development Agency (SEDA), South Africa boasts 2.6 million SMMEs, which provide jobs to over 11.3 million people, showcasing the vital role these businesses play in the country’s economic landscape.
Woolworths’ support extends beyond financial contributions, as the retailer also provided R7 billion in revenue to black and black women-owned suppliers.
One of the businesses benefiting from Woolworths’ support is Juan’re Clothing, a south coast-based supplier of babywear and kids fashion.
CEO Bernard Gonzalves attests to the impact of Woolworths’ partnership, stating, “Over the past 21 years, the Woolworths partnership has helped us create jobs and deliver community support in southern Kwa-Zulu Natal.
We now employ close to 300 employees with women making up 95% of our machinists.”
Another success story is Comet Security, a security services provider that has grown its business with Woolworths’ support. CEO Claude Noruka highlights the significance of Woolworths’ Enterprise and Supplier Development (ESD) program, stating, “The relationship between Woolworths and Comet has had a significant impact not only on our business, but also on our communities. Comet employs 291 individuals, of which 108 are women, 183 men, and 151 youth.”
Zinzi Mgolodela, Director of Corporate Social Justice at Woolworths, emphasizes the retailer’s commitment to tailor-made support for each enterprise, recognizing that every business has unique needs for growth.
As the South African economy continues to rely on SMMEs for job creation, Woolworths’ dedication to supporting these businesses is crucial for fostering economic development and providing opportunities for more South Africans.
With Woolworths leading the charge in supporting SMMEs, the retailer is paving the way for a more inclusive and prosperous economy in South Africa.
As the retailer continues to prioritize small businesses in various sectors, the future looks bright for the growth and success of these enterprises in the
Be First to Comment