ENTREPRENEURS

FABCOS members understand that the foundation of the organization is its members and the sectors according to which they are organized. FABCOS exists therefore as a vehicle for its members and has never perceived members as a vehicle for itself. The greatest benefit of being a member lies in belonging to a collective that together as FABCOS seeks to find solutions to challenges facing small businesses throughout South Africa. It is this interconnectedness to a common cause that binds us together. The character, shape and future of the organization are all determined by members and their elected leaders.

FABCOS does not offer over-the-counter services to anyone that wishes to buy them. Membership fees are therefore not a means to a priced list of benefits. The benefits derived by being a member of FABCOS are priceless and far exceed the amount paid by members. Creating an empowering environment for SMME's to thrive cannot be priced, as an example. In 2007 an assessment revealed that in excess of R200 000 was spent by FABCOS on each member. The R1 500 fee paid by sector members is incomparable. New members who are looking for immediate gains and who do not share the organization’s vision and strategic objectives or who do not subscribe to its values very quickly realize that they do not belong.

Why become a FABCOS Member as an Entrepreneur?

FABCOS focuses on building quality entrepreneurs. The organization was formed to contribute to a fundamentally transformed business environment, the pursuit of real black economic empowerment and the advancement of small business. The table below provides an overview of support mechanisms developed over the years:

• Bulk-buying
• FABCOS Funeral Scheme
• Life Cover Scheme
• Facilitated Business Registration with CIPRO
• Support with ensuring Statutory Compliance (VAT Registration)
• Business Licensing Support
• Vehicle Insurance Scheme
• Generic Entrepreneurship Training
• Sector-Specific Training
• Providing Mentoring Support
• Ring-fenced Access to Finance at affordable rates [Business Loans]
• Business Seminars and Trade Exhibitions
• Business Planning Support
• Access to Business Opportunities
• Access to Primary and Secondary Macro- and Microeconomic Research Information
• Access to internal and external Franchises
• Sector Specific Technical Support
• Beneficiary of the FABCOS Trust that holds all investments of FABCOS

All members join FABCOS as sector members. A once-off fee is payable upon joining as a member. Existing members are required to renew their membership by 31 May of every year. A renewal fee must be paid upon renewing.

The last survey that was conducted to profile our members in 2009 showed that FABCOS members typically employ between 1 to 20 people and generate an annual turnover of up to R500 000 each. Collectively, FABCOS members represent a buying strength of approximately R1.5 billion a year. 50% of member businesses were registered at the time of collecting the data and 65% had been in businesses for more than 5 years.

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