COSDEC (Community Skills Development Centre) welcomed its “Swakopmund Business

Incubitees” for 2021 recently, for an orientation program before their formal Business Incubation Program kicks off.

A ceremony was hosted for them at the COSDEF Business Development Support Centre where three previous incubitees also shared their success stories with the new entrants.
COSDEF’s Business Development and Marketing Manager, Ms. Koesha Martin, during the proceedings said Namibia experiences an increase in the number of micro- and subsistence enterprises, especially in townships and informal areas.
Although these enterprises are important to grow the country’s economy, alongside small and medium sized enterprises, there is no proper business support for these micro- and subsistence enterprises, according to Martin.
COSDEF works tirelessly to eradicate this discrepancy and for this reason already established fur Business Development Support Centres in Swakopmund, Rundu, Tsumeb and Ondangwa. These four centres each have a business incubation unit which runs annual business incubation programs focusing on advising potential start-ups and through a business assistance program help them establish and grow.

These incubation units are adding to COSDEC’s production training, hands-on mentoring and coaching and skills development through entrepreneurship training.
The incubation program itself has three stages. The pre-incubation stage is where the incubees attend workshops to prepare them to a run a business.
During this stage COSDEF takes the time to assess the prospective entrepreneur’s business idea and potential.
When selected as an incubee, the incubation stage follows where for a period of one year the business is developed, more skills development takes place, financial loans where applicable finalised and administrative support for the young business is conducted.

The post-incubation stage is where the entrepreneur leaves the incubation unit and set up operations in the community.
The Business Development Centre continues to support the incubees during this stage.
The final stage of the journey is where the entrepreneur and his business leave the “safe haven”, making space again for the next number of incubees to establish, grow and become independent.

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