Pretoria - The National Youth Development Agency (NYDA) has presented its plan on how it intends to support more young people in starting their own businesses as part of addressing unemployment in the country.
Briefing the Portfolio Committee on Women, Children, and Persons Living with Disabilities on Thursday, the agency outlined clear measures to get more young people to participate in the mainstream economy.
In its presentation, the NYDA said entrepreneurship was a critical component towards job creation in the country and essential in ensuring that young people were able to participate in the mainstream economy.
"It is reported that small businesses employing less than 50 people currently contribute to 68 percent of employment in the South African private sector and we plan to do more in supporting emerging young businesses.
"In the same spirit, young people should do more towards innovation and coming up with ground breaking and viable business ideas, especially in the six key sectors of the economy such as the green economy and manufacturing," the agency said.
The NYDA has several measures in place aimed at ensuring that youth-owned small businesses thrive in the country. For the period covering 2012 - 2014, the agency will set aside over R243 million to assist youth-owned small and medium enterprises.
Over 89 000 jobs will be created and/or sustained through NYDA programmes, including the Business Consultancy Voucher (Voucher), Business Opportunities Support Services (BOSS) and Enterprise Mentorship programmes.
The NYDA will also source business opportunities worth R331 million for BOSS deals, Enterprise Mentorship and Voucher programmes.
Through its existing partnership with the Companies and Intellectual Property Registration Office (CIPRO) the NYDA will work to ensure that over 14 000 youth-owned companies are registered.
The NYDA is also instrumental in enhancing accessibility of CIPRO products, particularly registration of businesses for young entrepreneurs that the NYDA services.
Through the BOSS programme, the NYDA links young entrepreneurs to procurement opportunities in the private and public sector. This includes the facilitation of joint ventures as well as procurement opportunities for young entrepreneurs.
About 155 000 young people will be involved in the National Youth Service programme to provide them with an opportunity to serve their communities while gaining skills through structured training.
Furthermore, over 290 000 young people will be provided with various skills covering critical areas such as business management skills, life skills and job preparedness.
The NYDA will also strengthen its Entrepreneurship Education In-school programme aimed at capacitating maths, accounting and business management teachers to infuse entrepreneurship education during lessons. As part of the Youth Advisory and Information Service, over 1. 6 million youth will be provided with group career guidance.
