As South Africans continue to feel the pressure of rising living costs, fuel price uncertainty and ongoing economic strain, small businesses are facing an uphill battle. Entrepreneurs are often described as the backbone of the economy, but many are still struggling to grow beyond survival mode.
While access to funding is usually seen as the biggest challenge for SMMEs, experts say the real issue may be something deeper: capability over capital. In simple terms, many entrepreneurs have strong ideas but lack the business systems, leadership skills and financial knowledge needed to scale successfully.
This challenge often shows up through weak pricing models, poor cash flow management, limited planning and difficulty accessing larger markets. Without these foundations, even promising businesses can struggle to attract investors or secure formal funding.
That is where initiatives like Nedbank Pitch & Polish come in. Now in its 16th season, the programme focuses on helping entrepreneurs build stronger businesses rather than simply rewarding a great pitch. Contestants receive mentorship, business training and practical tools to improve operations, strategy and decision-making.
Backed by Nedbank, Raizcorp and uMngeni-uThukela Water, the competition also offers a prize package worth R1 million, including cash and a business incubation bursary.
The bigger message, however, is clear: South Africa does not just need more funded businesses, it needs more prepared businesses. Strong leadership, smart systems and the ability to adapt are what truly turn ideas into sustainable companies.
If entrepreneurship is going to drive job creation and economic growth, building capable founders must become just as important as providing capital.
