CFERI

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Welcome to the Centre for Entrepreneurship Rapid Incubator

The University of Mpumalanga Centre for Entrepreneurship Rapid Incubator (UMPCFERI) is based at the Mbombela Campus. UMPCFERI started operations in 2020 and aims to develop emerging entrepreneurs in Mpumalanga and beyond in a bid to reduce the prevalent unemployment levels through entrepreneurial skills development and commercialization of small businesses. The primary focus of UMPCFERI is to develop students with business ideas into entrepreneurs with sustainable business ventures. In addition, supports start-up businesses to become sustainable businesses with defined growth strategies from surrounding communities. In this regard, UMPCFERI’s primary strategy is to act as a consultation point and entrepreneurship support center that also creates a platform for peer learning collaboration and networking opportunities.

 

UMPCFERI Services

  • Mentorship

  • This intervention is intended to offer group and individual advice, training and support both face to face and through any other platforms for follow-ups on the growth and strategic plans that the incubatee would have mapped out together with the mentor.

  • Coaching on Recordkeeping and Accounting

  • Assisting the incubates to understand the importance of business records, how to generate basic source documents and interpreting financial statements. Interventions usually face to face and then follow up sessions can be through, mail correspondence. Incubates are shown how to keep the following record either manually or electronically on MS excel.

  • Coaching on Marketing Strategy Development

  • The market strategy coaching seeks to help incubates develop a framework for business operations that match industry opportunities so that the incubates can successfully pursue targeted markets.

  • Business Compliance Planning and Registration

  • Each Incubate must be registered as a legal entity and register with SARS and depending on the specific industry regulations that may require certain certifications for market access or permissible operations, the Centre seeks to help the clients identify all the relevant compliance requirements and help them register.

  • Business Plan Development

  • The centre has business plan templates that mentors use to help incubates to streamline their thinking into proper planning, whilst they clarify the vision and mission of their venture, they follow the following guidelines for writing up and owning their plans.

  • Renting Facilities

  • The UMPCFERI is designed to host over 6 tenants currently. The tenant incubates besides having highly subsidized rental costs enjoy the following benefits.

    • Printing services including 3D.
    • Telephone and Internet services
    • Reception services
    • Boardrooms & conference facilities
    • Shared kitchen facilities

     


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