Tiers of Delight
SME support streamlines business processes and implements strategic planning.
Lerato Motsepe is a passionate entrepreneur, the owner/manager of a small business that bakes cakes (daily and wedding cakes) and sells wedding décor. Tiers of Delight (ToD) entered, SAB’s KickStart competition, an innovative competition aimed at supporting high potential young black entrepreneurs. With a background in marketing and experience in running a number of other SME’s, Lerato is a good ‘horse to back’. She has excellent people skills, good sales ability and a creative flare.
ToD was an established business with a sound track record and a reputable brand in the Soweto region when they entered the SAB Kickstart competition. The company had already been through a number of growth phases and was looking at opportunities to improve profitability and stimulate additional growth. ToD was awarded a grant of R134 000 through the SAB Kickstart competition. Edge Growth was then appointed by SAB to provide business development support to ToD, in order to achieve their growth ambitions.
The major constraints to ToD’s growth were a combination of capacity, management focus and resources. Lerato’s natural entrepreneurial flare and ability to spot new opportunities meant that she was able to identify new market opportunities, however she lacked effective planning and a strategic approach to fully execute on these opportunities. This meant that ToD often found itself stretched for resources and unable to cope with growth due to insufficient management capacity and thin working capital.
Edge Growth identified these improvement areas and developed tailored SME support interventions. These centered around assisting Lerato with weekly project planning, prioritisation of key tasks and the management of working capital. The support has improved Lerato’s understanding of balancing all the different elements of her business; growth with working capital, exploring new opportunities with delivering on existing business. She also better understands all the operational costs associated with her business.
Edge screens 300 SMEs, shortlisting 30 high-potential SMEs suitable for growth support.
Growth finance from the Vumela Fund for enables SME to expand locally and internationally both in existing and new markets.
Edge designs strategy to guide existing ESD Fund’s activities and investments.