The purpose of this qualification is to provide entrepreneurs and aspiring entrepreneurs in the small, medium and micro enterprise (SMME) sector with the technical, business, managerial and personal skills to create and sustain a business. The qualification is part of the National Qualification Framework and is available to individuals who do not have formal training and are working in, or wish to work in or manage a SMME business.
The New Venture Creation Learnership is a 12 month practical and theoretical training programme that allows the learner access to and mobility within the SMME sector. The qualification meets the needs of society by providing the entrepreneur with the skills to improve personal circumstances thereby contributing to the upliftment of the community as a whole.
The New Venture Creation Learnership is a 12 month practical and theoretical training programme. 70% of the learnership is based on the practical component and 30% on the theoretical component. The formal name of the qualification is, National Certificate: New Venture Creation (SMME) NQF Level 4.
The parties involved in this process are the employer (Services SETA levy paying member companies), the learners (either unemployed or employed), the training provider and the Services SETA.
Refers to the Services SETA levy paying member company. This company needs to submit a workplace skills plan indicating the company's commitment to training its employees. The employer receives a learnership grant from Service SETA. The employer has the responsibility to project manage and mentor the learners within this learnership for accountability and service delivery. The employer further needs to submit a business plan with a detailed strategy outlining the employer's commitment to assist the learner in starting a new business
Suitable learner applications are selected for assessment against the fundamentals of the learnership. The learners are required to write numeracy and literacy assessment tests. On completion of the test an interview is arranged by Services SETA and takes place between the employer and the learner. The learner is also required to submit an informal business plan. On successful outcome of the interview, the four parties are required to enter into an agreement
The training provider must be accredited to facilitate the New Venture Creation Learnership and is selected by the employer. The training provider is obligated to follow the SETQAA accreditation process.
The Services SETA manages the process of certification as well as the disbursement of the grants. Monitoring and evaluation of the learnership processes are also documented on a regular basis. On completion of the learnership the learners are certified through the SETQAA upon receiving results from the accredited training provider.
The learner is expected to effectively manage a new business venture after completion
Learners do not need existing businesses as there are certain requirements that need to be met within the learnership structure, which is 70% practical and 30% theoretical. The learners would need to commit 100% to the learnership, unless they have another person to manage their business while they are on training.
The learner needs to start an informal business venture within 3-6 months of the learnership commencement. There must be some form of a product or service to be promoted including evidence of a business transaction taking place. This does not necessarily have to be a well established registered business with a high turnover.
Before entering the learnership the learner needs to present an informal business plan to the employer. The employer would be looking for an entrepreneurial profile in the learner. The learners would need to understand that this learnership is not to secure a job, it is a generic business skills learnership, that mentors and guides the learner in starting their own business. The learners would need to show initiative, be a risk taker and be motivated to succeed against all odds.
A Final Summative Assessment (FSA) is the final written test. Because of the NQF level of this qualification, this test is a requirement. The test requires submission of an assignment as well as a formal presentation. It is written at the end, within the 12 months of the learnership period. It is this assessment and the formative assessment (Portfolio of Evidence) that culminates into the final result in order to determine successful completion of the learnership.