Becoming a successful entrepreneur is no easy feat. And no one knows the ins and outs of entrepreneurship better than Bulelani Balabala. Balabala is a successful entrepreneur and business speaker known for his contributions in the business landscape, especially the small business industry.
Speaking to SME South Africa, Balabala says he has been an entrepreneur for 20 years. After dropping out of high school in grade 9 and a further education and training (FET) institution, he started trading. His first two years as an entrepreneur were spent selling sweets, fat cakes etc, however, it did not take long for him to open up an Internet café in 2006 which then became his first formal business.
“When I started the Internet café, I had no Internet and not much knowledge on what it takes to run a business. But as the years went by, I gained knowledge, skills and acquired academic qualifications in entrepreneurship. Now I am able to run and grow a business on good governance” says Balabala.
Empowering the Township Economy
Balabala’s current focus is on township entrepreneurship. Through his Township Entrepreneurs Alliance (TEA) initiative, he is seeking to empower small businesses whose operations are based in the township and rural areas.
He started TEA approximately 10 years ago with the idea that the organisation could become a platform where township entrepreneurs could come together. Currently, the TEA has impacted over 6 000 entrepreneurs and 20 000 high school students who are interested in becoming entrepreneurs.
“The drive to start the TEA started when I was going to high schools to speak to students about entrepreneurship. I also noticed that other entrepreneurs who I was talking to were struggling with the basics of running a business. From there, the desire to help them solve these challenges pushed me to start TEA and since then I am (considered) the go-to guy for township entrepreneurs,” explains Balabala.
The Challenges of the Township
All was not smooth sailing for Balabala as there were many challenges that he faced during his entrepreneurial journey. He outlines that for him and other township entrepreneurs, some of the biggest challenges were dependent on which township you are from.
When it comes to challenges, township entrepreneurs have faced their fare share. Some of the most pressing issues include lack of skills, technology, location, crime and access to financial resources.
“All these challenges create a non-conducive environment for entrepreneurs to thrive. Besides that, most entrepreneurs don’t have enough information on various business processes. Over and above that, the biggest challenge is growth capital,” Balabala explains.
To overcome these challenges, Balabala says that the government needs to play a bigger role. He elaborates that the government needs to create a conducive environment for better economic activity amongst township businesses. According to him, the government needs to develop and implement the right policies which can in turn support small businesses. Secondly, he believes that the government needs to rope in the South African Police Service (SAPS) so they can provide protection to small businesses that are victims of crimes such as protection fees.
Lastly, he says that government, private stakeholders and the Department of Small Business Development should come together to drive better access to markets for small businesses.
“Big business and big corporations have been doing a good job of driving the small business agenda forward with impactful enterprise supplier development programmes. And I think there can be more investment in small businesses if the government was a more trustworthy partner.”
Balabala Spills the TEA
Speaking on what his next project(s) are, Balabala has a workshop coming on the 12th of October 2024 in Mokopane. The big event is the 6th annual Township Economy Summit set for the 21st and 22nd of November 2024 in Tembisa. The theme for this year’s summit is ‘Inclusive Economic Future’ and is underpinned by three main things: information, opportunities and market access.
To add more value to the summit, Balabala is introducing an awards ceremony which will take place after the summit in November 2024. Going forward, the event will be known as the Township Economy Awards and Summit.
“The summit is seeking to amplify, educate and support small businesses. This year I will be focusing on six main industries like logistics, automotive, construction, retail, green economy etc. The awards I believe are a great way to acknowledge the category winners and appreciate the small business owners” explains Balabala.
Additionally, Balabala will be launching his book which is the Township Entrepreneurs Guide. The book is also set to be launched during this year’s summit.
“Those are the things I am really focused on this year and I am excited about the book and especially the awards. I’m really looking forward to that,” he says.
Looking even further into the future, Balabala says the goal is to help develop over a million township entrepreneurs and build his platform to provide peer support, funding and access to markets to help small businesses become economic powerhouses.
“The next five years is all about positioning myself as the go-to guy for large corporations looking to support small businesses and to see a measurable success rate of the entrepreneurs who go through our development programmes. It’s all about growing the small business and seeing them become successful,” concludes Balabala.
