Entrepreneurship has been hailed as one of the most crucial ways to alleviate poverty and create jobs in South Africa. However, a lack of exposure to opportunities means many small business owners are forced to close shop before too long. Madoda Khuzwayo, Mnive Nhlabathi and Sivu Maqungo plan to change that trend.
With first-hand experience of the challenges entrepreneurs face, the trio wanted to find a way for small business owners to quickly and simply access business opportunities.
“In 2013 I realised how many opportunities there are in government and the private sector that entrepreneurs don’t know about; I mean the government spends about R500 billion a year just procuring services. And you also have the private sector and small businesses doing business with each other.
So we asked ourselves how we could create a system that would simplify the process of finding business opportunities for entrepreneurs. It’s a question that arose from our own pain and struggles as entrepreneurs,” Khuzwayo says.
With a background in technology, Khuzwayo, Nhlabathi and Maqungo’s objective was to provide a one-stop shop for entrepreneurs, where they would not only find info about the latest government tenders or private-sector contracts, but also be able to network and collaborate with other entrepreneurs.
They realised that a social networking site offering business, networking and funding opportunities was the solution.
So, in June 2014, they established their first business social network – OpenTenders – and officially launched it in September. Within a month of the launch, approximately two thousand entrepreneurs had logged on.
The biggest challenge for many entrepreneurs who are starting out is that they manage to find that first contract, but it takes quite some time to get another. Our platform helps them identify other opportunities
“It’s a social media platform that works just like Facebook or LinkedIn, allowing entrepreneurs to register, create their own profile and connect with other entrepreneurs. It also gives them access to all tenders in the public and private sectors,” Nhlabathi explains. The network has also given many the opportunity to be subcontracted for work by other entrepreneurs.
“The biggest challenge for many entrepreneurs who are starting out is that they manage to find that first contract, but it takes quite some time to get another. Our platform helps them identify other opportunities and allows the big guys to spread their work amongst the smaller guys,” Maqungo says.
Currently subscribers pay a R99 monthly fee, but from 1 June subscription will be free.
Born and raised in Soweto, Nhlabathi’s science teacher inspired him to enter the IT industry. He landed a job in the Internet banking field, but realised after a few years that he was not cut out for the corporate world. His business venture with Khuzwayo and Maqungo is a result of his love of technology and passion for finding solutions to help entrepreneurs.
Khuzwayo hails from KwaZulu-Natal. A qualified electrical engineer, OpenTenders was his idea.
Maqungo holds a Masters in Law from the University of Pretoria. He worked at the South African Permanent Mission to the United Nations as a legal adviser and deputy to the ambassador. It was in this role that he discovered his passion for business and, after many years, quit his job to focus on entrepreneurship. - Destiny
With first-hand experience of the challenges entrepreneurs face, the trio wanted to find a way for small business owners to quickly and simply access business opportunities.
“In 2013 I realised how many opportunities there are in government and the private sector that entrepreneurs don’t know about; I mean the government spends about R500 billion a year just procuring services. And you also have the private sector and small businesses doing business with each other.
So we asked ourselves how we could create a system that would simplify the process of finding business opportunities for entrepreneurs. It’s a question that arose from our own pain and struggles as entrepreneurs,” Khuzwayo says.
With a background in technology, Khuzwayo, Nhlabathi and Maqungo’s objective was to provide a one-stop shop for entrepreneurs, where they would not only find info about the latest government tenders or private-sector contracts, but also be able to network and collaborate with other entrepreneurs.
They realised that a social networking site offering business, networking and funding opportunities was the solution.
So, in June 2014, they established their first business social network – OpenTenders – and officially launched it in September. Within a month of the launch, approximately two thousand entrepreneurs had logged on.
The biggest challenge for many entrepreneurs who are starting out is that they manage to find that first contract, but it takes quite some time to get another. Our platform helps them identify other opportunities
“It’s a social media platform that works just like Facebook or LinkedIn, allowing entrepreneurs to register, create their own profile and connect with other entrepreneurs. It also gives them access to all tenders in the public and private sectors,” Nhlabathi explains. The network has also given many the opportunity to be subcontracted for work by other entrepreneurs.
“The biggest challenge for many entrepreneurs who are starting out is that they manage to find that first contract, but it takes quite some time to get another. Our platform helps them identify other opportunities and allows the big guys to spread their work amongst the smaller guys,” Maqungo says.
Currently subscribers pay a R99 monthly fee, but from 1 June subscription will be free.
Born and raised in Soweto, Nhlabathi’s science teacher inspired him to enter the IT industry. He landed a job in the Internet banking field, but realised after a few years that he was not cut out for the corporate world. His business venture with Khuzwayo and Maqungo is a result of his love of technology and passion for finding solutions to help entrepreneurs.
Khuzwayo hails from KwaZulu-Natal. A qualified electrical engineer, OpenTenders was his idea.
Maqungo holds a Masters in Law from the University of Pretoria. He worked at the South African Permanent Mission to the United Nations as a legal adviser and deputy to the ambassador. It was in this role that he discovered his passion for business and, after many years, quit his job to focus on entrepreneurship. - Destiny
