How can Incubators help Youth? Atul Padalkar BizFarm July 2012.
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Transcript of How can Incubators help Youth? Atul Padalkar BizFarm July 2012.
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How can Incubators help Youth?
Atul PadalkarBizFarm
July 2012
![Page 2: How can Incubators help Youth? Atul Padalkar BizFarm July 2012.](https://reader036.fdocuments.in/reader036/viewer/2022080915/56649dda5503460f94ad02e4/html5/thumbnails/2.jpg)
IntroductionBizFarm Corporate Film
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Key Challenges• High Failure rates of SMMEs (80%+)• Low Education / Skills base– Maths & Science in particular
• Mindset• Institutional Arrangements• Regulation/s & RedTape• Industry Support and Buy-in
Business Incubation improves SMME Success rate (NBIA)
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Arab spring• A revolutionary wave of demonstrations and protests
occurring in the Arab world that began on 18 December 2010
• Protests considered to be inspired by the Arab Spring have taken place on every inhabited continent, with varying degrees of success and prominence
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GlobalMarketAccess
EconomicLiteracy
FinancialLiteracy
EmotionalLiteracy
NewVenture
Expansion
NewVenture
Development
Developing Entrepreneurs
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Supporting BEE SMMEs
• Incubator• Enterprise Development
• Innovative Financing
• Mentorship
Skills
Finance
Workplace
Markets
Mindset
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The ‘BizFarm’ Concept
• A Partnership of Stakeholders
• Multiple Sectors
• Supporting Entrepreneurs will grow them
• Growth of Entrepreneurs will create jobs
• Growth of jobs will grow the economy
• Sustainable in the Long term
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Support Services• Office Space– Meeting Rooms, Reception, Internet, Office Services– Virtual Office– Resident Office
• Coaching and Mentoring• Access to Finance• Market Access Support Support• Networking Opportunities• Business Skills Training
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Key LearningsWorking Principles• Sustainability is very important for Incubators• “Free” is very expensive• Users will pay for good value – Bizfarm Office pm Virtual : R 250. Resident R 999– Tea/Coffee: R2.50/cup. Telephones @ actual
• Employment is created by successful SMMEs• Main Determinants: – Lean Setup Costs, Lean Operating Costs
• Way Forward: Partnership
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Way Forward
How can we create more employment through Business Incubators?
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Thank You
Contact us at:
www. bizfarm.co.zaTelephone: 031 201 7444
357, Che Guevara RoadGlenwoodDurban 4001
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High Unemployment Rate• There are 1.1 billion people – 1 out of every 3
people in the labour force – who are either unemployed or living in poverty
• Youth unemployment rose from 11.7% in 2007 to 12.7% in 2011
• Small enterprises account for 60-70% of jobs in most countries
• Studies indicate Incubators have a positive impact on increase in number of Businesses and jobs
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Youth Ticking time bomb• Mr Vavi said last night unemployment —
especially of the youth in SA — was a ticking time bomb.
• Urgent strategy is needed to deal with unemployment to prevent Tunisia-style uprising.