Skills Development

Technical Training

New Venture Creation. Everything you need to know…

All Lepharo incubatees, in partnership with Ekhuruleni Business Development Center, undergo a thorough business skills programme with technical training tailored to the needs identified in the base metals sector

What is the reasoning behind New Venture Creation learnership?

The future of South Africa’s economy does not just lie in the formal sector, but within the informal SMME sector too. This is a growing part of South Africa’s economy and requires substantial focus from a developmental perspective.
Following the success of the implementation of the National Certificate: New Venture Creation (NVC): Level 4 and upon doing further research, it has been established that there is a great demand to equip entrepreneurial learners with knowledge and skills at NQF level 2 so that they can become part of the mainstream economy as they set up and manage new ventures. Whilst the complexity of learning will be simpler at this level, the main outputs, requirements and competences of such entrepreneurs are broadly the same.

The small business sector is growing and it is in light of this that various stakeholders have taken the initiative to provide mentorship 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.

What is the purpose of the New Venture Creationlearnership?

The purpose of the NQF level 2 New Venture Creation qualification is to provide a qualification that can form the basis for structured programmes for potential and existing entrepreneurs to capitalize on opportunities to start and grow sustainable businesses that form part of the mainstream economy, enabling the learners to tender for business opportunities within both the public and private sectors. 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.

What is the duration of the New Venture Creation learnership?

The learnership duration is 9 months depending on learner progress and development. This is a full time qualification and will not be offered part-time. Entrepreneurs who are unable to commit to the full program are advised to rather select the appropriate skills program and complete the program in phases.

How does the New Venture Creation learnershipensure sustainability?

Learners have the option of signing a business support for a period of 2 years. This will give coaching and mentoring for learners once they have started their businesses. The rationale for this is that only 10% of businesses that are registered make it past the first year of operations.

NEW VENTURE CREATION (NVC2)

Fundamentals - (To be completed before commencement of actual unit standards) or learners to undergo a RPL process should they meet the requirements

  • Apply basic knowledge of statistics and probability to influence the use of data and procedures in order to investigate life related problems.
  • Demonstrate understanding of rational and irrational numbers and number systems.
  • Identify, describe, compare, classify and explore shape and motion in 2- & 3- dimensional shapes in different contexts.
  • Maintain and adapt oral communication.
  • Use language and communication in occupational learning programmes.
  • Use mathematics to investigate and monitor the financial aspects of personal and community life.
  • Work with a range of patterns and functions and solve problems.
  • Write for a defined context.

Apply basic business ethics in a work environment

Learning Units:

1. Reflect on own values and belief systems and how they influence own behaviour.
2. Discuss how an individual’s ethics impact on the people around him/her.
3. Explain how an individual can behave ethically in a business environment.
4. Demonstrate techniques for dealing with situations where own ethics and values conflict with work.

Apply basic skills of customer service

Learning Units:

1. Explain customer service in a financial services environment.
2. Engage in an interaction with a customer.
3. Demonstrate communication skills in order to respond to a customer need.
4. Process a query in order to respond to a customer need.

Behave in a professional manner in a business environment

Learning Units:

1. Know how to behave in a business environment.
2. Interpret body language in a business context.
3. Interact with people in a business setting.
4. Assess own professional behaviour in a business setting.

Determine financial requirements of a new venture

Learning Units:

1. Determine the financial and cash flow requirements of a new venture.
2. Determine income and expenditure of new venture.
3. Implement pricing and costing principles.
4. Identify resources to obtain start-up capital.

Identify and demonstrate entrepreneurial ideas and opportunities

Learning Units:

1. Describe and discuss entrepreneurship.
2. Identify own entrepreneurial strengths and weaknesses in relation to opportunity identified.
3. Identify the characteristics of a typical entrepreneur.
4. Identify entrepreneurial opportunities in own context.
5. Compile entrepreneurial goals and personal growth plan.

Identify the composition of a selected new venture’s industry / sector and its procurement systems

Learning Units:

1. Identify and analyse the value chain within a selected industry or sector.
2. Identify the business principles and processes within a selected sector or industry environment.
3. Demonstrate an understanding of different procurement systems that may apply in specific sector/industry.

Manage business operations

Learning Units:

1. Implement an action plan for business operations.
2. Mobilise resources for a new venture.
3. Manage own time productively.
4. Monitor productivity in a business venture.
5. Implement and manage a basic quality system in a new venture.

Manage finances for a new venture

Learning Units:

1. Explain financial controls for managing a business.
2. Identify and apply accounting practices and procedures.
3. Manage business accounts and maintain business records.
4. Utilise financial statements to identify business progress.
Manage marketing and selling processes of a new venture  

Learning Units:

1. Implement marketing plan.
2. Negotiate a deal with a customer.
3. Outline processes and principles for completing basic quotes.
4. Outline processes and principles for completing tender documents.

Match new venture opportunity to market needs

Learning Units:

1. Identify and describe what marketing is in relation to new venture opportunities.
2. Conduct market research.
3. Identify market segments in relation to own new venture opportunity.
4. Incorporate market research into a marketing plan.
5. Explore product/service life cycle.

Produce a business plan for a new venture

Learning Units:

1. Identify and demonstrate understanding of the elements of a business plan.
2. Compile an organisation structure for one’s own business to determine how a business plan can best be integrated.
3. Identify resources and information required to complete own business plan.
4. Compile business plan.

Electives (To be decided on, based on business requirements.)

Apply health and safety to a work area

Learning Units:
1. Identify potential hazards in the work area.
2. Limit damage to persons or property in the case of an emergency.
3. Follow procedures that apply to illness or injury in the work area.

Investigate the structure of an organisation as a workplace

Learning Units: 

1. Identify the core business activities of a selected organisation.
2. Identify support functions within a selected organisation.
3. Explain the role of a selected department in an organisation and its contribution.
4. Investigate the different types of work done in the department.

Keep informed about current affairs related to one’s own industry

Learning Units:

1. Identify events in the physical environment that could impact on a selected industry.
2. Identify events in the social environment that could impact on a selected industry.
3. Identify events in the economic environment that could impact on a selected business sector.
4. Identify people and companies in the news.

Maintain an existing information system in a business environment

Learning Unit:

1. Store information using an existing storage system.
2. Retrieve information from an existing storage system.
3. Store valuable documentation and reference materials securely.

Operate and take care of equipment in an office environment

Learning Units:

1. Follow instructions to operate office equipment.
2. Maintain equipment in a clean and working condition.
3. Monitor and request equipment consumables.
4. Recognise and take steps to minimise risks to safety when operating equipment.

Process numerical and text data in a business environment

Learning Unit:

1. Identify and access the correct database.
2. Process and check numerical data on a database used in one’s own organisation.
3. Process and check text on a database used in one’s own organisation.

Administer contracts for a selected new venture

Learning Units:

1. Obtain and analyse performance requirement of contract.
2. Apply basic risk management techniques in managing performance.
3. Demonstrate an understanding of contract changes and disputes.
4. Ensure compliance and administrative close-out of contract.

Apply basic HR principles in a new venture

Learning Units:

1. Identify and plan for the human resources needs of a new venture.
2. Implement the human resources needs of a new venture.
3. Identify and compile basic employment policies and procedures.
4. Comply with relevant human resources legislation.

Apply knowledge of self and team in order to develop a plan to enhance team
Performance

Learning Units:

1. Demonstrate knowledge and understanding of self as a worker in a specific work position.
2. Identify own role in an organisation.
3. Use a variety of strategies to deal with potential conflict in a team or group.
4. Demonstrate knowledge and understanding of the dynamic within a specific group.
5. Develop a plan of action to enhance the performance of a team.

Assemble, install and dismantle exhibition stands

Learning Units:

1. Identify and select commonly used tools and equipment.
2. Check that all components are available on site.
3. Describe various components and assembly techniques.
4. Construct, assemble and dismantle the exhibition stand according to instructions and specified time frames.
5. Check quality and finish according to correct standards.
6. Apply housekeeping principles.