Matseba Innovation
| Business Location: | Rural area - Villages |
| Province | Limpopo |
| Branch: | Sekhukhune |
| Business Start Date: | |
| Busniess Type: | Company |
Business Dynamics and Challenges
Business Activities:
The business manufactures and supplies clothing and textile items which includes everyday wear for men, women and children, uniforms (schools and sports), night dresses for hospitals, linens for households and industries, curtains for households and industries, and work suits.
Challenges/Needs:
• Lack of cash flow projections for funding application
• Lack of funds to acquire embroidery machine.
• Limited business management skills
Intervention Insights and Results
Intervention Details:
• Preparing of cashflow projections and facilitation of Asset Assist funding.
• Participation of business owner on business management and tendering trainings.
• Continuous advisory and mentorship support.
• Participation of business owner on business management and tendering trainings.
• Continuous advisory and mentorship support.
Outcome Details:
• The business managed to secure grant funding worth R250 000,00 from Asset Assist Program to acquire embroidery machine and managed to increase sales through improved marketing strategy.
• For the six months period of 2024, the company recorded an increase in turnover of R 232 000 with operational costs of R 215 244 which translate to the net profit for the year before tax of R 16 756. This translates to the following positive results for the business.
- Increase in turnover of 22.41% from R 180 000 to R 232 000.
- Increase in profit of 43.90% from R 9 400 to R 16 756; and
- The business managed to retain 5 employees and created 2 additional jobs bringing the total number of employees to 7.
• For the six months period of 2024, the company recorded an increase in turnover of R 232 000 with operational costs of R 215 244 which translate to the net profit for the year before tax of R 16 756. This translates to the following positive results for the business.
- Increase in turnover of 22.41% from R 180 000 to R 232 000.
- Increase in profit of 43.90% from R 9 400 to R 16 756; and
- The business managed to retain 5 employees and created 2 additional jobs bringing the total number of employees to 7.
Client Feedback
Client Comments:
Thank you SEDFA for the exceptional support and giving us the opportunity to expand our business
