Enterprise development is defined as the act of investing time and capital in helping people establish, expand or improve businesses. Enterprise development helps people to earn a living; it helps them out of poverty; and it leads to long-term economic growth for themselves, their families and their communities. [Source]
Enterprise development involves investing time, knowledge and capital to help Small and Medium Enterprises (SMEs) establish, expand or improve businessincluding empowering modest income-generating informal activities to grow and contribute to the local economy. [Enterprise Development Made Easy, Raizcorp].
It can also involve:
A discussion on Enterprise Development at the 2017 Trialogue Business in Society Conference.
Apart from the benefits to the contributor, enterprise development is an integral tool for alleviating poverty and unemployment.
In May 2017, the Department of Basic Education formalised a 13-year blueprint to embed practical Entrepreneurship, Social Entrepreneurship and Employability Training into the National School Curriculum, from grades R to 11 (grade 12 learners will focus only on their matric exams). Furthermore, the Department is eager to work with non-profits that are currently supporting youth entrepreneurship to roll out this plan.
Once they have matriculated, a very small percentage of South African school leavers will find jobs. An even smaller percentage of these graduates will go on to complete tertiary studies. As such, the development of entrepreneurial competence and getting young people to believe in themselves is of upmost importance.
The Enterprise Development topic is sponsored by