Small Business Focus

How to turn South Africa into a nation of start-ups

How can we turn South Africa into a “start-up nation”?

The Money Show’s Bruce Whitfield interviewed The Clothing Bank CEO Tracy Chambers for his weekly small business feature.

Chambers helps unemployed moms start their own businesses.

(Read: "How Tracey Chambers is helping unemployed moms become entrepreneurs")

Her company gives women access to discounted merchandise and 500 hours of training in money management and business skills.

The business skills were not enough. We discovered that many of the women lacked confidence.

Tracy Chambers, The Clothing Bank

The Clothing Bank’s motto is: ‘Don’t give a woman a fish. Teach a woman to fish and teach her how to sell her fish.'

Tracy Chambers, The Clothing Bank

(Read: 10 fallacies that make start-ups fail)

We teach them to be great capitalists; to extract as much money as they can.

Tracy Chambers, The Clothing Bank

We have a single mother with seven children. Before she joined she couldn’t feed them. Now her two oldest daughters are enrolled in Technicon!

Tracy Chambers, The Clothing Bank

Listen to the interview in the audio below (and/or scroll down for quotes from it.)

96% of our women continue running a business.

Tracy Chambers, The Clothing Bank

Once I know I can, I can!

Tracy Chambers, The Clothing Bank

One ‘I can’ moment upon another ‘I can’ moment builds self-belief.

Tracy Chambers, The Clothing Bank

We focus less on business skills and more on psychology.

Tracy Chambers, The Clothing Bank

We have a concept called ‘micro-franchising’…

Tracy Chambers, The Clothing Bank

We invest R35 000 in each woman’s training.

Tracy Chambers, The Clothing Bank

When you design a program; make sure you set people up for success. Make sure there’s a high chance of success.

Tracy Chambers, The Clothing Bank

Many women we work with were poorly parented.

Tracy Chambers, The Clothing Bank

You can’t fix 35 years of underdevelopment in one month.

Tracy Chambers, The Clothing Bank

Poor South Africans are finding that, if you have two hands, you can do it for yourself.

Tracy Chambers, The Clothing Bank

Click here (then “like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
Why 'waiting for things to get better' is too risky a strategy to try

Why 'waiting for things to get better' is too risky a strategy to try

Dr Seuss called it "the waiting place"; it kills businesses, warns small business guru Pavlo Phitidis.

Everything you need to succeed in business rests between your own ears

Everything you need to succeed in business rests between your own ears

The Money Show’s Bruce Whitfield interviews Pavlo Phitidis, the founder at Aurik Business Accelerator.

How to build a resilient small business

How to build a resilient small business

Small business guru Pavlo Phitidis on the basics of building a resilient business. He gives clear guidelines for getting it right.

How to escape the tyranny of 'project-based revenues'

How to escape the tyranny of 'project-based revenues'

The Money Show’s Bruce Whitfield interviews small business guru Pavlo Phitidis, founder of Aurik Business Accelerator.

10 fallacies that make start-ups fail

10 fallacies that make start-ups fail

The Money Show’s regular book reviewer Ian Mann unpacks “The San Francisco Fallacy”.

How Tracey Chambers is helping unemployed moms become entrepreneurs

How Tracey Chambers is helping unemployed moms become entrepreneurs

The Clothing Bank gives women access to discounted merchandise and 500 hours of training in money management and business skills.

Popular articles
'It is clear that electorate is giving us serious consideration' - EFF

'It is clear that electorate is giving us serious consideration' - EFF

Post-election, national chairperson advocate Dali Mpofu evaluates the party's gains.

Absa is the most complained about bank in South Africa

Absa is the most complained about bank in South Africa

Capitec Bank, however, is keeping its customers decidedly happy. Bruce Whitfield interviews consumer journalist Wendy Knowler.

46 women rescued in Joburg sex trafficking raid

46 women rescued in Joburg sex trafficking raid

An expert on human trafficking explains how the syndicate operates and how women are lured into dens.