Held in honour of Madiba, the 2024 event will be in partnership with SimplyBiz — powered by Nedbank — which is committed to helping showcase talent and unique and resilient business owners present in South Africa.

According to the enterprise, 67 designers will come together across the country to design 67 logos for 67 small businesses in celebration of Mandela Day on Thursday, 18 July. 

According to UN Trade and Development, it's estimated that micro, small and medium enterprises (MSMEs) in South Africa account for over two million companies, represent over 98% of formal businesses, and have experienced two-digit growth in the last years. Supporting these businesses is crucial for economic recovery.  

The enterprise says that first impressions are vital for business success, and it only takes people an average of three seconds to form an impression of a brand. It also take five to seven impressions for consumers to recognise a company logo.

Over the Rainbow has called upon small businesses and designers to join the 2024 67 Logos Designathon. All that SMEs need to do is enter to be matched with a designer and designers are invited to volunteer their time towards this worthy cause.

According to the enterprise, designers will be selected and matched with small businesses based on their passions, experiences and profiles. Once they have applied, designers will receive a brief via email and will then liaise directly with their matched businesses so that they can start working on the logos in their own time.

All the logos will have to be submitted by 17:00 on Wednesday, 17 July, says Over the Rainbow. 

The survey results indicate the following from the 250 businesses that have been part of this initiative:

• 86% are still using the logos that were designed for them
• 91% are still in business
• 72% had an increase in revenue for the past financial year, and
• 66% have employed staff and have grown their team.

"Our passion is to help businesses succeed, and through 67 Logos, we are not only giving businesses the chance to stand out with a professionally designed logo; we are also giving the designer a platform to showcase their creativity and talent to create new business opportunities for them," says Lesley Waterkeyn, founder and executive director at Over The Rainbow.

"Why a logo? Because it transcends language barriers and quickly elevates the business idea and positioning. It gives a business an identity, a purpose and a chance to stand out and ultimately defines one's brand identity," adds Waterkeyn. 

Because of being a part of the 67 Logos Designathon, 10 competition participants will also have access to a six-month mentorship programme valued at R75 000. 

All participants will also have access to Nedbank's free business development platform SimplyBiz, which is open to all entrepreneurs, even if they are not Nedbank clients.   

According to the bank, the platform offers an array of practical tools, guides and competitions to boost small business owners — including the SimplyBiz Change Gear toolkit and Powershot Cafés — to ensure they are supported with mentorship and networking opportunities along their business journey.

"The 67 Logos Designathon will allow us to positively impact and boost the next 134 entrepreneurs, and we hope that through their rebranding, this creates more awareness of the businesses and, most importantly, leads to sales, growth and expansion for the businesses," says Alan Shannon, executive of client engagement, small business services and private clients at Nedbank. 

"Supporting small businesses is, after all, part of our ongoing commitment to offer Banking & Beyond^® solutions that are real and relevant for entrepreneurs at all life stages," adds Shannon. 

"One of many challenges that inhibit the growth and sustainability of small businesses is access to markets and opportunities that can scale their businesses, and the 67 Logos initiative addresses this challenge by removing the complexity and barriers to entry by fostering relationships between prospective clients and designers which would otherwise be difficult to forge under normal circumstances," says Shannon.

"As Nedbank, we are encouraged that this initiative is much more than an opportunity to be empowered financially, but it is also a platform for participants to form meaningful relationships with businesses that have the potential to be long-term clients in the long run," Shannon concludes. 

Individuals who would like to become part of the 2024 67 Logos Designathon are encouraged to enter here. Entries for businesses to apply to receive a logo close on Sunday, 7 July. 

For more information, visit www.overtherainbow.co.za. You can also follow Over the Rainbow on Facebook or on Instagram.