Barloworld launches incubation hub to assist in SMME development

JSE-listed Barloworld on Tuesday launched the Siyakhula Incubation Hub at its Johannesburg offices to assist suppliers and other companies operating in its value chain to overcome challenges such as market access, finance and skills that tend to impact on small, medium-sized and microenterprises (SMMEs). Barloworld has partnered with the Department of Trade and Industry (DTI) and financial services provider Standard Bank to provide financial support, as well as enterprise development, skills transfer, supplier development and marketing opportunities to its small business suppliers. The Barloworld Siyakhula Incubation Hub, located at the company’s Barlow Park head office, in Sandton, will seek to support its existing black-owned SMMEs, while also providing support to eligible SMMEs within its larger value chain. Barloworld has provided support to 42 companies and aims to grow the number of incubatees to 120 by 2022.