DURBAN-based cleaning innovation company Gotec Investments has earned first place in the KwaZulu-Natal region of leading business accelerator programme, Property Point.
The programme recently announced the winners and graduates of the class of 2018 which included 46 SMEs from across the country. Among the Kwazulu-Natal cohort of the enterprise development programme, R57,8 million in revenue was generated; R5,3 million in new contracts accessed and 22 jobs created.
Gotec owners Gonum and Chreeson Moodley said the programme had helped the company to obtain all the required compliance standards. “The programme has proved itself for more than a decade and it has brought out the best in us as entrepreneurs. We are proud to be the number one graduate business in the province and it has motivated us to continue to grow on this journey.”
The other graduating SMEs from KZN are Atam Electrical, KVA Engineering, Paintage, Able Energy and Qhakaza Projects.
According to a statement from Property Point, the impact of the 2018 programme across Gauteng, Western Cape and KwaZulu-Natal has been significant, with total revenue generated by the businesses exceeding R377,6 million, and with 325 full-time and 558 part-time jobs being created.
The graduation comes at a time when according to Statistics South Africa, 42.2% of the country’s businesses have indicated that they have run out of financial resources to continue operating because of COVID-19.
Property Point founder Shawn Theunissen says this year’s graduating class has had to navigate an unprecedented pandemic. “These entrepreneurs have made it and that gives us much hope for the future.”
Theunissen said external research conducted showed that over the last decade, the businesses on the two-year Property Point accelerator programme have recorded a cumulative contribution of R1,5 billion to the GDP since 2008.
Since inception of Property Point in 2008, a total of 258 businesses have been selected to be part of the programme. These businesses have accessed R1,6 billion worth of contracts and have created 2 683 full time equivalent jobs. The businesses have reported a 25% median annual revenue growth.
