New Venture Creation / Entrepreneur SMME

Description

✅ Purpose and Rationale

This qualification is designed to support potential and existing entrepreneurs in launching and growing sustainable businesses. It enables learners to participate in the mainstream economy and compete for business opportunities across sectors. Whether you’re starting from scratch or formalising an existing venture, this programme provides the structure, tools, and confidence to succeed.

South Africa’s economic future lies not only in the formal sector but also in the growing SMME space. This qualification addresses the developmental needs of entrepreneurs and provides long-term solutions for job creation and business sustainability.

📘 Qualification Rules

The qualification consists of 138 credits, structured as follows:

Fundamental Component (36 credits):
- Communication (20 credits)
- Mathematical Literacy (16 credits)
Core Component (70 credits):
- Entrepreneurial knowledge and skills applicable across industries
Elective Component (minimum 32 credits):
- Specialist skills in HR, administration, customer relations, procurement, and more

Learners must complete all Fundamental and Core unit standards, and select Electives totaling at least 32 credits.

🎯 Exit Level Outcomes

By completing this qualification, learners will be able to:

Use basic mathematics for business calculations and decision-making
Communicate effectively with clients and stakeholders
Conduct market research and align business activities with customer needs
Understand the legal and operational environment of their industry
Manage finances, pricing, and funding for their venture
Monitor business performance and apply corrective actions using a business plan

🌍 International Comparability

This qualification was benchmarked against international standards in New Zealand, Australia, Scotland, and England. The most comparable is the ILM Level 3 Certificate in Starting Your Business (UK). However, the South African qualification offers more substantial content and practical relevance, making it a robust choice for entrepreneurs.

🔗 Articulation Options

This qualification articulates with:

Horizontal:
- National Certificate in Business Administration Services (Level 2)
- National Certificate in Call Centre Support (Level 2)
Vertical:
- National Certificate in Business Administration Services (Level 3)
- National Certificate in Management (Level 3)