Entrepreneurial education and skills development can help drive economic growth and employability in South Africa, says Samukeliso Mncube, a lecturer at Regent Business School.
There is, however, disagreement whether unemployed youth accessing entrepreneurship training can be equipped or taught to have the knowledge and skills of managing a sustainable business, he said.
“Admittedly, small businesses have emerged as powerful platforms for contributing towards the economy.
“Whereas some are convinced that entrepreneurship training has no impact on economic growth without investment or funding of start-ups, others maintain that training in entrepreneurship not only teaches people the skills they require to establish their own businesses but also facilitates economic development and empowerment that can drive economic growth and create employment.
“The rate of unemployment in South Africa, coupled with negative economic consequences of the Covid-19 pandemic has prompted higher education institutions such as Regent Business School to establish bold and innovative initiatives that facilitate the development of 4IR and technical skills aligned to entrepreneurship. Learning how to use laser cutting and CNC machines, 3D printers, AR/VR equipment, electronics and robotics devices and drones are now integrated into the academic calendar across most of REGENT’s programmes and students are required to learn how to use and produce from the as part of their assessment. In addition, students are encouraged and supported to start their own ventures in a structured extra-curricular programme though a range of just-in-time short courses.”
Mncube said entrepreneurial education and skills development can be pivotal in creating businesses that contribute to economic output, because entrepreneurs are often the ones who design new processes, products and services that can create value for customers.
“Entrepreneurial education can also help create new industries as entrepreneurs are often the first to develop new ideas or products that can become profitable in the long run. Finally, entrepreneurial education also helps to develop skills and entrepreneurship courses teach people how to think creatively and come up with innovative solutions.”
Mncube said Regent Business School is making entrepreneurial education a core deliverable across all its programmes by integrating it into the academic programme, thereby improving students’ learning experience.
This is well penned! I have also said this over and over again in Nigeria, even in some of my talks on national tv, that to grow our nations or continent, we need to invest heavily in entrepreneurship and skill acquisition programs.
Youths and women need to be empowered to create opportunities and jobs.