Gap analysis Workshop
innobiz DUT Centre for entrepreneurship and innovation hosted a three-day Gap Analysis Workshop which aimed to analyze entrepreneurs’ businesses, identify gaps and challenges they are currently facing to see how they can be assisted.
These sessions included reflections from 2025 last sessions which helped kick start and understand the entrepreneurs’ where about and see if they have done self-development from the information given to them.
To kickstart the sessions, Ms. Nontokozo Ngcobo, manager of innobiz DUT Centre for Entrepreneurship and Innovation welcomed and shared the purpose of the 3-day session as important for students to understand the level of their businesses to identify the current challenges and gaps they are currently facing. To identify entrepreneurs who are ready for funding, and those who are ready to graduate the innobiz DUT incubation program.
She highlighted how important it is of students to submit their reports so that it will be easier to analyze their business stage. The monthly report is very important to innobiz DUT because it assist in understanding the areas that needs intervention to ensure that their businesses receive right support as the Centre plan to do.
“You need to share your monthly report, job creation, the clients you have, and the challenges you currently have. This help us understand what step to take and what needs to be done”. She said
“If you do not submit these reports that we ask from you, how do you expect us to be able to track your business. The platform given to you is also evaluated, if these are not submitted then DUT will see no need to give entrepreneurs these kinds of opportunities”. She urged students.
Ms. Ngcobo discussed the significance of utilizing the platform which provides them with all the people from different organizations with various experiences. This session is for entrepreneurs to feed on all the information that will be shared.
The first session continued with student entrepreneurs presenting their businesses to understand their level of operation, where each highlighted their monthly revenue and the challenges they face to improve. Students stressed the issue of their business systems which made them struggle to get their payments of their services from their customers.
Mr. Thintani Dlamini, Business support coordinator, highlighted the importance of the gap Analysis workshop by stressing the challenges of hosting these kinds of sessions, in his words saying that they face challenges of balancing academics and entrepreneurship program when it comes to scheduling.
“There are times when we need entrepreneurs’ attendance but they cannot fully participate because they still have to commit to their primary goal of attending academic lectures. This forces us to move our sessions to weekends to be able to get their full participation.”
Mr. Dlamini encouraged entrepreneurs to not be shy to share their business stage as this is an entrepreneurship space where their main goal as entrepreneurs is to learn. Share what your business offer, and share where the gap is so that it is easy to identify the type of assistance you need.
“Do not be afraid to share your struggles because this platform is made for this. We have people from different organizations to assist with any kind of challenge you are facing.”
Mr. Dlamini highlighted what entrepreneurs should not do when it comes to funding as they have the tendency of entitlement in terms of the need to get financial support even if they are not ready to access that support. Part of the gap analysis session is to try to navigate and give them explanation so that they can understand who qualifies for the funding.
The role of business coordinator needs one to expose themselves with various environment, engage with business owners and mentors. This assist you as a person working with students to get more experience and expertise so that you can be able to assist students.
You also need to do self-development and not wait for opportunities of meeting new people, but do research and develop yourself, as you will find student entrepreneurs who will come to you for advice and they expect you to have answers to their questions as a business coordinator.
Mr. Dlamini further encouraged entrepreneurs to share their offerings as an entrepreneur, share the gaps that needs to be attended. We are in an entrepreneurship space, sessions like these where we get together and engage with any challenges we face as entrepreneurs. Sessions like these are importance.
Ms. Nokuthula Ndebele, MSME Growth Strategist and SEDFA representative delivered a presentation on funding readiness, preparing small businesses to access funding opportunities. Her training highlighted the importance of business plan, business compliant, types of funding SEDFA offers and more.
“Firstly, it is important that your business plan is clear, ensure that your business is compliant CIPC, SARS, UIF, valid tax clearance certificate, business bank account. Ensure that you have all these documents” she said.
Ms. Ndebele also highlighted the importance of differentiating personal account and business bank account which many entrepreneurs seem to not understand. It is important that you do not use business account for your personal use. When screening your funding application, your business bank statement should not have recordings of something not related to your business.
It is significant that student entrepreneurs understand the different types of funding so that they know which one they qualify for. Some include Grants which are non-repayable funds, loans which are payable, blended finance which are combination of loan and grant, equity which are investment in exchange for ownership, invoice/purchase order finance which are based on secured orders, and revolving Credit which are flexible, cashflow-based borrowing.
Ms. Ndebele added that SEDFA does not only assist with funding but it has another segment, business support, which assist with business plan and business-related activities. Anything that has to do with business they offer help and guidance.
Furthermore, Ms. Ndebele shared types of fund they offer, which are Spaza shop fund, Purchase Order Funding, Youth Challenge fund, and Amavulandlela fund. These funding cater for different purposes and have different compliances and it is important that entrepreneurs understand each.
Mr. Zakheni Ngubo, entrepreneurship mentor delivered a presentation diving deep into gap analysis looking at business systems and compliances. He encouraged entrepreneurs to use excel templates which is free and easy to use.
“You need to have a platform that helps you track your business, when we analyze your business we see what is your pricing, what are your costing, what are margins, and where are your stock levels”. He said highlighting the significant of using the right systems to track your business.
When you are running your own business the first important thing you need to learn is one-on-one with a customer, how you close up this customer, how you sell to this one customer. Learn this before you think about the money and profit.
Mr. Mhlangano Khumalo, DUT procurement specialist, stressed that there is a lot that needs to happen looking at the two entities, innobiz DUT and DUT. Critically important is the issue of how programs within innobiz DUT are structured to be able to respond where the encore institution, DUT, comply, based on the agreement they have.
“At this point we are stressing as much as we can that innobiz DUT procurement is fulfilled through the procurement reforms within DUT. But in future, the assumption is that innobiz DUT will be a fully fleshed entity of the institution.” He outlined.
Issues to deal with how innobiz DUT is assisting with programs and issues around policy compliance will be dealt with, but in the interim, DUT procurement is as and when is required to support and entrepreneurs will be within the program or incubation of innobiz DUT.
Mr. Khumalo further emphasized that the Centre manager, Ms. Ngcobo is visible in terms of what needs to happen, and procurement is trying as much as possible to align through all the relevant prescript that they have within DUT institution.
Mr. Khumalo shared his view on innobiz DUT in relation to the South African employment in his words saying, it is still a long way to go because DUT is the entity or rather the NPC sits and where academics, the pipeline which enables students to be able to learn in a structured lawn, still needs to be integrated.
“Issues of unemployment from my point of view has to be a robust engagements and relevant strategies and benchmarking with other concept of similar nature needs to lock in to ensure there is alignment and there is compliant to the institution to fulfill the mission and that of innobiz DUT as a Centre of innovation and promoting entrepreneurs from young students.” He said.
On students utilizing platforms like the innobiz DUT and other DUT supporting offices Mr. Khumalo stressed out that it boils down within the strategy of innobiz DUT in terms of the sector analysis and looking at whatever literature material in terms of where government sit and other role players and civil society groups as it were.
To be able to innovate you need to come up with concept that have potential for demand. Understanding the ecosystem, the DUT as an institution of learning, the innobiz DUT as a Centre of entrepreneurship and the conglomeration between the two institution, then defines the trajectory from within which then starts to respond. Because this is not an enabler that says innobiz DUT is the employer, but it brings a narrative to be able to map where unemployment levels are. That start to promote and to inculcate trajectory that will see more students employing other students.
“It is not a one stop shop, from a sector analysis and looking where we failed, our economic trajectory, that is where the alignment needs to happen most, through excellence by participating students.” He added.
The second day, Saturday, was set off by Mr. Ngubo with a recap on previous day and outlining the importance of tracking the information given during the course of the workshop to ensure it is well received by the student entrepreneurs.
Opening presenter, Ms. Machabane Mokoena, accounting services manager at Bonakude Consulting, an accounting firm that assist with booking, payroll services, income tax, and CIPC submissions and all other account businesses may require, delivered a presentation on business processes and accounting systems for SMEs. The presentation tailored to try and highlight how it can be inefficient for small businesses to not have a proper business recording system.
“When it comes to business processes, especially accounting for the funds that come in and out, entrepreneurs see this as an administrative burden. They do not recognize this as an investment. As business advisers, we need to ensure we make them understand the importance of this.” She said.
In her words, Ms. Mokoena encouraged students to paint the picture to their potential sponsors. Without the numbers clearly visualized in writing, they can not see where their potential lays. It is important to work out the numbers to paint the picture.
Not having a proper system of recording can result in finance losses as a result of non-compliance. To be compliant you need to finish the supporting document. Without internal processes of recording you will not be able to support what you present.
Ms. Mokoena further praised the platform given to student entrepreneurs by innobiz DUT, these sessions are beneficial, not only to the entrepreneurs, but also to the stakeholders at large. They get to meet potential partners. innobiz DUT and DUT have created a platform that will assist the economy through creative, innovative businesses.
Ms. Nandi Mtolo, another Bonakude Consulting representative discussed that working with various entrepreneurs is inspiring as the young minds have the eager of wanting to learn new things, they have ambitions and goals. It easy to work with them when they have clear plans of executions of their innovations.
First time working with innobiz DUT, Ms. Mtolo showed interest in extending their partnership as this is a good platform for entrepreneurs. Looking at our country and lack of job opportunities, creating more youth owned businesses can help with this crisis of unemployment.
“This is a great opportunity and I will advice these students to use it wised, anything is possible so, they have to utilize all the information shared to their advantage.” She said.
“These entrepreneurs need to ensure that they are compliant with SARS and everything in terms of making sure that when they do their business they ensure they are compliant. They do not want their businesses in the next few years owing SARS. But they are lucky because we do all those services, like I said, we have an accounting division where we assist with tax services, and the SARS dept management.” she added.
Ms. Mtolo further outlined the notifiable thing among student entrepreneur’s business, the systems they use. entrepreneurs need to do research on the systems they use for their businesses. They need to have a great system that is manageable, ensure they are solid, and do not backfire on their businesses.
Mr. Zakheni Ngubo, business mentor, shared the first section of the sessions aimed to focus on compliance, how entrepreneurs ensure their systems and operations are compliant. If they need limit regulations, if they are an export, they have the export requirement.
“This is why we started with pitching, being able to position your business, this comes with structures and requirements for you to communicate effectively. Do you have your logo, your website, do you have communication structures, are you using google adds or social media? What methods are you using in take your message across?” He outlined.
Compliant and communication coexist, as entrepreneur, when you have all the compliant documents, you need to be able communicate that across. And your compliant needs to be clear to potential clients or investors. Entrepreneurs needs to have good financial recording as this is almost the main purpose of the business.
The third topic is competency, which is why the second day focused on financial management. Outside of being compliant entrepreneurs need to understand their finances, their economics, and margins because that helps you determines strategy. It helps you make decisions on the go one way or another. Whether suppliers change, you to negotiate better or you need to change location.
“You need to be competence enough to be able to look at the pillars your business and systems so you can be able to make informed decisions because you have facts.” He added.
These entrepreneurs are on different levels and many or them are running which is a good thing. They develop their businesses with great ideas and they are great people. But the subject of systems seems to be one they are struggling with which is normal for SME’s.
The main thing is that entrepreneurs are willing to build solutions, mentor’s job is to convert these solutions into viable enterprises. Which means systems, processes, compliant documentations, security, all these things that entrepreneurs need to create longevity.
They are running and making money but the thing is how we help them develop strategy. There are amazing concept and is potential for partnerships. Not only among students but with partners like CSIR who help them develop and strengthen their tech.
Towards the end of the Gap analysis workshop, the last day, Ms. Ngcobo took the stand to do reflection on what entrepreneurs learned. Starting with entrepreneurs with businesses that are not yet operating. While planning your long-term business it important to develop an idea that can operate soon and you can start making profit.
“From my side, I wanted to check how these two past days have been and so far, I am happy with the feedback. I hope that it is used and we see great change in your businesses.” She said.
She encouraged entrepreneurs to connect and present their businesses to each other. Even if they might not build partnerships, they might find opinions and ideas that will help their ideas.
On the words of encouraging entrepreneurs to submit their reports, Mr. Thintani Dlamini advised students to engage and shared that this helps their services to be recognized by innobiz DUT, and as a Centre there are services that innobiz DUT require that some entrepreneurs offer.
Going forward to another phase of the incubation program, he discussed criteria of graduating from incubation to post incubation or post to alumni. It is important to understand these as it needs face-f2-face review where the business is analyzed thorough.
To first activity of the last day, entrepreneurs were given the opportunity to present their business canvas as was their homework activity from yesterday session. Feedback and advices were given back by entrepreneurs, business support coordinators and business mentor Mr. Ngubo.
The session further did an activity of familiarizing entrepreneurs with the easy to use record keeping Dashboard system that allows them to assist in profiling their business. The system allows them to have stable information and easy to access for anytime use.
The system also helps with the notification of current opportunities where student entrepreneurs can apply for and with all the information in one place, possible sponsors are able to see what their businesses offers.
The system shows financials, revenue, and more that the business needs to be able to get exposure. The more information is put on the system about the business the more it is to track the business operations.
Mr. Ngubo added that students needs to learn to use AI as a tool that can make their work easy for record keeping. The more entrepreneurs use it the more opportunities are explored on how it can further reduce work.
“As much as it makes things easier, it is important to also add some human touch, always review your recording and add things you might have missed”. He added.
Overall, the workshop involved speakers of different environment all adding up to entrepreneurship as the main goal of coming together. Informative topics including funding opportunities, business systems and accounting, B-BBEE compliance, financial and marketing structure review, and check point and mentor feedback.
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