Imagine a world that operates on a principle of collective efficacy, with a united vision of economic growth that has the potential to impact all lives, but especially those who need it most
At The Hope Factory and SAICA Enterprise Development, we believe that collaborative partnerships between the private, public and development sector has the potential to create great impact and momentum to effect change in our country. Specifically, through the growth of entrepreneurs and the development of their small businesses.
We are excited therefore to see how the public sector is continually creating new opportunities and platforms for small business development. An excellent example is that of the current commitment by the Sector Education and Training Authorities (SETAs) which have created a platform for industry-specific small business development.
A current collaboration is a strategic project funded by CHIETA (Chemical Industries and Education and Training Authority), implemented by The Hope Factory, that focuses on the development of 30 SMMEs in the chemical industry. The CEO of CHIETA, Yershen Pillay, says: ‘Our goal as CHIETA is to turn the chemical sector in South Africa into an economic powerhouse and we are proud to fund a programme of this nature that contributes to achieving such a goal.’ This is a perfect example of how the public sector is creating a platform for not merely skills development, but small business development that could lead to economic growth in our country. As stated by Mr Pillay: ‘We’re excited to partner with The Hope Factory. One of CHIETA’s aims is to provide structured advisory, mentorship and coaching support to ensure sustainable growth of the SMME sector.’
The SETAs are in fact well positioned to encourage multi-level stakeholder engagement across the public and private sector, which comes alive through the experience and expertise of the development sector and accredited training providers like The Hope Factory.
MerSETA (Manufacturing, Engineering and Related Services SETA), for example, have embarked on research into the SMME and entrepreneurship space to ‘understand the Economic Complexity in the manufacturing and engineering related space, with a focus on SMMEs’ and to ‘understand the way(s) in which education and training can expand sustainable livelihoods gained through entrepreneurship in manufacturing, engineering and related trades and occupations’ − as outlined in their Sector Skills Plan.
Such initiatives by the public sector enhance the potential for economic growth through skills development and small business development, as these initiatives not only focus on accredited skills training (such as the New Venture Creation Curriculum) but constitute a holistic approach that includes coaching and mentoring for SMMEs. MerSeta and CHIETA are but two examples of many other SETAs that are committing resources to the growth and development of small businesses.
The Hope Factory and SAICA Enterprise Development strongly believe that the creation of sustainable entrepreneurial ventures within communities and townships is one of the most effective ways to drive local economic development.
In closing, we look forward to continuing our public and private sector collaboration through entrepreneurial and small business skills development solutions, and in particular to collaborate with the SETAs to effect collective change in our country.
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Jolandi Peterson, The Hope Factory