A business development programme run over a three-month period by Regent Business School and the Enterprise and Supplier Development (ESD) team at Standard Bank Business and Commercial Banking has graduated 44 entrepreneurs with the top 10 being awarded grants. The programme drew 56 small, medium and micro enterprises (SMMEs) from across KwaZulu-Natal.

The programmed drew participants from Newcastle, Richards Bay, the South Coast, Pietermaritzburg, Umzimkulu, Empangeni, Nongoma, Umlazi, KwaMashu and Greytown, among other areas. The widespread appeal reflects the range of entrepreneurial activity across the province and the role SMMEs play in local economic development.

The programme used an applied learning model with 10 contact sessions over three months where they worked through simulations, group activities, case studies, scenario modelling, role play and practical business challenges. Each activity was designed to help them apply business concepts to their own enterprises.

One session focused on Design Thinking and AI for business growth during which they had a single day to develop a business concept using creative problem solving, customer focus, technology and commercial thinking. The delegates then turned the concept into an actionable business plan on that same day.

Financial management was another core theme. In this module attendees covered cash flow and the financial drivers of a business. They learned how to use financial information to make growth related decisions for their business.

The programme also required participants to put their learning into practice. Each one developed and submitted a growth plan, setting out how they would apply what they had learned to their business. Completion of short online learning programmes with self-certification were also required.

In total 44 of the 56 participants, an impressive 79% graduated by meeting the requirements for participation, engagements and completion. The top 10 of those 44 graduates received grant funding to support their business growth plans.

Nokhanyo Ntshingila, Senior Manager for the ESD Programme for Business and Commercial Banking at Standard Bank South Africa said: “At Standard Bank we recognise that SMMEs are critical drivers of economic growth, job creation and innovation in our country. Through initiatives such as this programme, we aim to equip entrepreneurs with practical business skills, financial management capabilities and growth strategies that enable them to build sustainable and competitive businesses. We are proud of the 44 entrepreneurs which have successfully graduated and look forward to seeing how they apply their learnings to create lasting impact in their communities and contribute to the broader economy.”

The partnership between Standard Bank and Regent Business School reflects a shared commitment to developing SMMEs through alternative learning methods. The programme combined business education, practical applications, financial capability, technology and growth planning. Collectively these empower participants with tools they can use in their own businesses.

Hoosen Essof, Chief Innovation Officer at Regent Business School commented: “The AI-driven business challenge demonstrated how emerging technologies can be used as practical tools for entrepreneurship. Our delegates were challenged to move from an idea to a viable business concept in a single day, applying AI and Design Thinking alongside customer insight and commercial thinking. This kind of immersive learning experience take tools which would otherwise be abstract concepts to demonstrate to entrepreneurs how innovation can be applied to their current businesses.”

This programme reflects Regent Business School’s focus on applied business education, which connects learning to real business challenges and gives entrepreneurs room to experiment, solve problems and use technology.

For the 44 graduates, the successful completion of this programme marks the start of the next phase for their businesses, where they can apply newly acquired knowledge, tools, networks and growth strategies to build stronger businesses with longevity.