UsB Launches small business academy for township traders

UsB Launches small Business Academy FOR TOWNSHIp TRaDERS

The University of Stellenbosch Business School (USB) officially launched its Small Business Academy (SBA) this year aimed at making a difference to small businesses in townships. This is part of USB’s commitment to share knowledge and work closely with small business owners in an effort to develop business skills through its business education. In this initiative, the USB works with corporate sponsors and other stakeholders to develop a skill set for small business owners to support and guide them for eight to nine months. After this period the participants graduate with a USB certificate. The programme is sponsored by ABSA, the Distell Foundation (an umbrella body for Distell’s corporate citizenship activities) and a collection of smaller sponsors. The first intake of participants from Khayelitsha, in Cape Town, have started this year and in the coming years the initiative will be extended to other townships as well. Participants will be guided and supported through an intensive programme, which includes training, coaching, workshop and resources. The USB says all training will be aligned with competence levels and the needs of each small business owner registered with the SBA. Subjects include: financial management; human resource legislation; proposal writing for funding; structuring of a business; personal development and business plan preparation. Some training will take place on campus and some training in the township. The mentoring part of the programme will be provided by USB alumni, coaching will be offered by USB students on the MPhil (Master of Philosophy) in Management Coaching programme and USB MBA (Master of Business Administration) students will assist small business owners with their business plans. Regular workshops will be offered by business experts (volunteers) and participants will also have access to information resources and facilities.