Entrepreneurial skill accelerates economic growth in SA

An international study conducted by UCT Graduate School of Business shows that a culture of entrepreneurship is likely to accelerate development within a country. Education is one area that entrepreneurial skills can be acquired most effectively and it is here that TSiBA Education is making ground-breaking success through its Entrepreneurship Centre.

Approximately 50% of young men and 48% of young women in South Africa struggle to find employment after finishing school. Innovative and entrepreneurial skills may enable these young people to play a part in not only ensuring that they have a job, but also aiding the development of the economy in South Africa.

"A lot of people want jobs. There is something special about people who are able to go beyond simply wanting a job that puts money on the table, to want to create something sustainable on their own and essentially give back to the community while benefiting from their own hard work," Peter Kraan who heads up the Entrepreneurship Centre at the Tertiary School in Business Administration (TSiBA).

The school has geared its learning towards instilling a culture of entrepreneurship. The four year business degree enables students from disadvantaged backgrounds to make practical use of their business theory through its Entrepreneurship Centre.

Run by Peter Kraan, the centre has been going for two years. In this short time, it has helped numerous small businesses within the students' communities. "We try to get across to the students that it's not all success and glory and fame, it's a lot of hard work," Kraan explains. This exposure to the running of a business within a structured and supervised environment gives the students the space to learn from mistakes that in the real world, they may not be able to recover from.

The school has structured the degree to fit in a compulsory third year Entrepreneurship module in which students are taught to develop ideas for businesses which they then put into practise in their communities.

This year, graduates from North Eastern University in Boston, USA, teamed up with TSIBA students to help develop these business ideas. "The process of exposing our students to all angles of a business environment is hugely important. We need to accept that in business we will work with a range of different people. This kind of exposure to the practical world will place our students in good stead when they do go out into the world on their own," adds Kraan.

Kraan assists the students to put together a sound business plan and presentation which they in turn will be able to use when approaching potential funders in the business world. "We don't only accept students, but anyone from the surrounding communities in Cape Town. TSiBA's philosophy has always been to help others so that we can pay it forward into our communities," Kraan says.

The centre has helped small businesses as diverse as Londolozani Orchids, which produces much sought-after South African orchids for orchid enthusiasts worldwide, to a concrete production company called Tirama Manufacturers which will produce roadside curbs, concrete slabs and vibracrete walls to name a few of its products.

Visit www.tsiba.org.za/ for more information