Prepare yourself for becoming an entrepreneur and get a Computer-literacy-skill
There are many talented young people with a basic entrepreneurial skill living in the townships. Those raw diamonds need to be digged out to help them becoming successful entrepreneurs and to create jobs. Therefore pre-incubation is a tool to determine if we deal with raw diamonds or with other gem stones. Furthermore, these days computer-literacy-skills are required to help entrepreneurs to excel in their endeavors.
Challenges unemployed youth and incubators are facing
The average unemployment rate in South Africa is hovering around 27% as statistics show. If we look deeper into the statistics, a more shocking picture is revealing. The unemployment rate in the Nelson Mandela Bay is hovering around 34% after spiking in 2017. The youth unemployment rate is hovering around 39%‚ with 58% of unemployed people aged between 15 and 34. We need to create jobs for those unemployed youths. One of the roads is to set up companies. We need to find people whith entrepreneurial material in themselves. Sadly, 5 out of 10 entrepreneurs don’t make it the first 5 years. While there are many reasons for failure, the top 10 failures actually show, that first time entrepreneurs are not asking themselves if they really want to be an entrepreneur. It requires perseverance, determination and sacrifice to set up a company. Incubators are assisting entrepreneurs to set up viable companies, but are often structurized in a way that they need to take in everyone who stands at the frontdoor. Although the success rate significantly increases with the assistance of an incubator, there are still challenges in that area.
Together we can Help them to find out if they have basic entrepreneurial skills
One of the first questions, we ask a person, is: Do you want to make millions or do you have a good idea and want to set up a company around that idea? At first, we want to determine if a person is a business man/woman or an entrepreneur. In our course we show first time entrepreneurs what it entails to have a company and what determination it requires. In the course we touch the way of setting up a basic business plan, to determine if an idea is viable, how you can market your product. During the course we assess the students and give advice what the following steps are they need to take. We will make it frankly clear if we see entrepreneurial material or not. Sometimes, a job readiness training could be more suitable for a student. An honest assessment is necessary because the marketplace is not that forgivable. We want to prevent somebody from wasting time, money and energy.
Ready4life fulfils the role as pre-incubator and sees itself as a feeder for the incubators. In the process of pre-incubation we are working together with different incubators as Seda, Propella and Hope factory. Costs involved in their training programmes are on a totally different level. It’s in their benefit to have quality incubatees.
Our philosophy is, that unemployed youth, which we see as one of the target groups, need to own their future. They have to contribute to the course, as in the marketplace there is not anything as freebies. Important for Ready4life is, that everyone has access to this program. Therefore, it is possible that a student can offer a voluntary service in one of the projects which Ready4life is currently running.
In conclusion, this program inspires unemployed youth to be an entrepreneur. Ready4life selects first time entrepreneurs to become incubatees of an incubator according to their footprint in the townships.
A dedicated team of volunteers and interns (local and international) and in collaboration with incubators, have been able to map the road for quite a few unemployed youngsters to become entrepreneurs. Most of all, we believe working together and learnng from each other in a intercultural setting is the key to success.#Get become an entrepreneur
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