IMM Institute helps drive entrepreneurial success through new Associateship Category and Innovation Hub

The IMM Institute, in its continued quest to enable small businesses and encourage entrepreneurs, has unveiled its new SMME Associateship as well as an Innovation Hub.

IMM Institute CEO, Irene Gregory, explains that the association, which no longer just caters to marketing companies but also those in the supply chain and business management industries, as sectors converge in a digital age, seeks to provide an environment in which entrepreneurs and small business owners can network as well as be guided by its larger member network.

‘Small, micro and medium-sized enterprises are the bedrock of our economy, accounting for 60% of all jobs, but only 40% of gross domestic product. To help lift the economy towards the 5% economic growth we need to create even more jobs, it is imperative that SMMEs be given a space in which to thrive,’ says Gregory.

Internationally, SMMEs account for the bulk of work opportunities and for 99% of all companies in Europe, Gregory says. The National Development Plan anticipates SMMEs creating 90% of all jobs, requiring 3.2 million new SMMEs be formed in the next seven years, according to a white paper published by 22 On Sloane in January 2024.

‘What we aim to do is, within one year of launching this at our Annual Conference on the 17^th of October 2024, is have a dynamic SMME Associateship base of at least 200 small businesses, entrepreneurs and startups,’ says Gregory. ‘At the same time, these small businesses will be given access to an SMME Innovation & Creativity Hub that will provide support and development for our SMME Associates, offering a range of high-quality valuable resources and support services to drive their business growth,’ she adds.

Gregory explains that small businesses will benefit from being able to tap into online learning courses that cover aspects spanning personal development, wellness and financial literacy, through to complete business development. ‘We want to enable people to learn how to come up with an idea that will make money and take that concept through to a business plan,’ she explains.

In addition to this, Gregory says, the Institute’s more established members, those with ten years of operation or more, will act as a type of mentor or big brother to the smaller companies. ‘It’s also entirely feasible that such relationships will result in business arrangements being created,’ she says.

In the Innovation & Creativity Hub, SSME Associates will have access to an office environment without having the expense of setting up their own physical space. ‘Not only does this allow for economy of scale, but it also brings like-minded people together so they can share ideas and solutions to challenges while allowing them to forge relationships,’ says Gregory.

‘By providing a collaborative space, comprehensive resources and a robust network of mentors and investors, the Hub will act as a catalyst for business success and sustainability. We are committed to nurturing talent, driving creativity and creating a thriving ecosystem where ideas can flourish and enterprises can scale,’ she says.

An additional incentive, over and above creating a successful business is the potential to be awarded the prestigious Entrepreneur of the Year Award, for which nominations close on 31 August with supporting documentation to be provided no later than 15 September.

‘These sparkling individuals will be honoured alongside awards to celebrate those who have made a laudable contribution to both the marketing and supply chain sectors on 17 October at the annual Excellence Awards to be hosted at The Maslow in Sandton,’ says Gregory.

Award categories include Marketer of the Year and Supply Chain Professional of the Year, Emerging Marketer of the Year, Marketing and Supply Chain Students of the Year, Corporate Teams of the Year in Marketing and Supply Chain, as well as Lifetime Achievement Awards for contributions to industry in both the Marketing and Supply Chain sectors.

For more information, go to www.imminstitute.co.za