This qualification is designed for learners who intend to set up or have already set up own ventures. Assessment of the competencies and knowledge in the qualification needs to be done in the context of the learner’s own new venture.
Research has indicated that people working with their own new ventures at this level need the following competencies:
- Acquisition of an entrepreneurial profile which includes an innovation orientation
- An understanding of the industry/ sector in which they wish to establish a new venture
- An ability to match new venture opportunities to market needs within a chosen industry/ sector
- An ability to determine and manage the financial requirements of a new venture
- An ability to match new venture opportunities to market needs
- An ability to compile and utilise a business plan to manage a new venture and also where relevant, to seek funding for a new venture.
The small business sector is growing and it is in light of this that various stakeholders have taken the initiative to provide mentorship programmes that will assist budding entrepreneurs to become a more integral part of the mainstream economy, serving both the public and private sectors. Apart from the formative development that can take place via these programmes, it also provides more importantly for sustainable development.