Entrepreneurship Development Programme

Programme Background

Through our accredited programme New Venture Creation (NVC), we advance the Local Economic Development Framework through SMME capacitation programmes aimed at bridging the gap between informal traders and formal traders. We place particular focus on the disadvantaged youth, woman and people living with disabilities. There is clear evidence of purpose-driven entrepreneurship taking hold at grassroots level – an encouraging sign of a collective will for future business sustainability. 

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Why placing focusing on entrepreneurship development so important?

Entrepreneurship is an engine of economic growth. It promotes the innovation needed to exploit new opportunities, promote productivity and create employment, while also addressing societal challenges, which now include the economic shock wave created by the COVID-19 pandemic. The promotion of entrepreneurship will be central to restoring the economy due to this pandemic

South Africa’s National Development Plan 2030 makes extensive mention of efforts to foster and grow small business. Within South Africa’s public sector, a major drive has taken place to stimulate small enterprises and entrepreneurship. This includes (but is not limited to):

  • The establishment of a national Department of Small Business Development, which houses the Small Enterprise Development Agency (SEDA), and the Small Enterprise Finance Agency (SEFA);
  • National Youth Development Agency (NYDA);
  • Technology Innovation Agency (TIA);
  • Council for Scientific and Industrial Research (CSIR)
  • National Treasury
  • Industrial Development Corporation (IDC)
  • Department of Trade and Industry (DTI)