Entrepreneurship programme gives dreams wings
New Vaal Colliery and the Vaal University of Technology have entered into a partnership that is turning entrepreneurial dreams into reality using a combination of business skills training and financial support.
The alliance serves both the Gauteng and Free State provinces, covering the Emfuleni and Metsimaholo local municipalities where the number of economically inactive people currently stands at 46% and 38%, respectively.
Emerging economies
“Small businesses have a key role to play in providing opportunities and creating new jobs in emerging economies,” says mine community development manager Khulani Mthembu, adding that one of New Vaal’s strategic focus areas is to reduce unemployment rates in local communities.
“The training component of the programme is run in six-month cycles, and is sponsored by the mine and delivered by the university’s Centre for Innovation and Entrepreneurship,” says project leader Dr Biki Pitso.
To supplement participants’ newly acquired skills, seed funding is channelled into 18 carefully chosen businesses that will receive advice, mentorship and support from the university over the next 18 months.
Innovation
During its first cycle, the programme benefited 120 entrepreneurs selected from a pool of 2,000 applicants, and the goods and services they provide range from catering to shoe manufacturing. One of the group’s most innovative entrepreneurs is a young electrical engineer who has established a business that motorises bicycles and has found a ready market among people who cycle to work.
类是在Saturd举行ays, and participants are trained on all aspects of running a small to medium-sized enterprise. Topics include basic financial accounting, marketing, human resources, supply chain and strategy.
“We are providing entrepreneurs with up-to-date knowledge that can be used strategically to resolve real, practical problems in a creative and innovative way,” says the university’s Dr Johannes Lebusa.
Impact
“Before the course, I didn’t know anything about the administrative side of a business or even whether I was running at a profit or loss. Now I can see exactly where I am going,” says Moses Phali, who manufactures doors for the hardware industry.
Fifty-nine-year-old clothing manufacturer Sarah Makhubela has learned how to use a computer and can now type invoices and digitise customer logos.
“One of the greatest challenges facing any growing business is funding, and the support we have provided so far has already had a huge impact on some of these businesses,” says Khulani.
Photographer Malcolm Phafane has literally doubled his turnover thanks to financial assistance that enabled him to buy a new camera. “The quality of my work has improved, and because of this I have gained so many new customers,” he says.
Makola Molamu was able to buy sound equipment that has enabled his media and events company to provide an additional service. This, together with his newfound business savvy, has led to the creation of an additional four jobs.
The programme’s second cycle, which begins at the end of October, will provide training for 150 people. So far, the mine has invested more than R1.6 million into the initiative.