Ibitech Technologies
| Business Location: | Rural & Township |
| Province | Eastern Cape |
| Branch: | Alfred Nzo |
| Business Start Date: | |
| Busniess Type: | Company |
Business Dynamics and Challenges
Business Activities:
Ibitech Technologies is an Information and Communications Technology training business that was established in 2019 in Tabankulu, Alfred Nzo district by two young men. The business is providing training on computer skills. Their vision is to have an ICT business that will provide and improve skills in the community of Ntabankulu on technology utilization.
The demand and need to accelerate as a country to fourth industrial revolution has created an opportunity for them to implement their business idea where they will be able to utilize their skills and career to benefit the community. Ibitech has been able to secure a stable market from schools around Tabankulu but they their main challenge was the need to extend their scope of work by venturing into printing and branding. This meant that their capacity was would not be met as they needed more machinery that is capable to print for the entire district on time.
Challenges/Needs:
The challenge facing the business was that they were unable to meet the demand for printing as the equipment was not enough. It was then important that the business gets its own machinery that has capacity to deliver branding to their customers on time. The intervention was a fundamental step that will assist the business towards the process of attaining access to finance, hence the implementation of intervention of Asset Assist.
Intervention Insights and Results
Intervention Details:
The client was referred to a Business Advisor who, after consultation registered the client and conducted diagnostic assessments on the business. The assessment revealed that the business was very sensitive to either and increase or decrease of sales. One important issue the business had to focus on was to increase the turnover.
As a Business Advisor I assisted the business with access to funding to meet all the requirements of Asset Assist program to improve the sales by getting more clients to the business, as a result they gained more clients that came to the business for printing and branding their items.
As a Business Advisor I assisted the business with access to funding to meet all the requirements of Asset Assist program to improve the sales by getting more clients to the business, as a result they gained more clients that came to the business for printing and branding their items.
Outcome Details:
We are thankful to Sedfa who assisted us with getting access to funding through Asset Assist which helped us getting new equipment resulting in getting more clients coming through.
Client Feedback
Client Comments:
The business has been successfully as the access to funding was approved to the value of R250 000 and acquired the equipment needed.
Through the assistance received, the performance of the business improved the turnover increased by 28.4% from R218 000 to R280 000.
Employment remained unchanged at 6 employees.
Through the assistance received, the performance of the business improved the turnover increased by 28.4% from R218 000 to R280 000.
Employment remained unchanged at 6 employees.
