Connect with us

Entrepreneur Today

EOH 702 Youth Job Creation Challenge

702 and EOH call on business to create jobs.

Entrepreneur

Published

on

Minister-Pravin-Gordhan

EOH and 702 have launched a bold campaign targeting business and working with government, that aims to tackle the national challenge of youth unemployment.

The EOH 702 Youth Job Creation Challenge calls on companies to take on 3% of their workforce in learnerships and internships for unemployed matric and university qualified youth, to make a meaningful impact on job creation in South Africa.

Far from a charity initiative, this challenge seeks to unlock the potential of government’s youth wage subsidy, as well as tax rebates for skills development to ensure that business, the individuals employed and the country as a whole, all benefit and grow.

Speaking at the launch of the initiative on Friday morning, Minister of Finance, Pravin Gordhan said: “We need to put our heads and hands together as government, business and labour in order to show growth. There are huge possibilities to do things together, not only to use the government resources that are available but to invest our own to.”

Related: How To Get A South African Government Loan

Gordhan challenged the CEOs who attended the breakfast to get involved. “Invest in the youth, pick up the baton and make your own contribution.” For EOH, this is already part of their business culture.

“Business in South Africa can’t think like our counterparts in developed countries, there they have responsibility primarily to their shareholders. In SA, business must have a much broader role which must include the well-being of our society. The interesting thing is that this kind of thinking is not in conflict with shareholders interest. It is harder to run a successful business in a failing society…” said Asher Bohbot EOH CEO.

Research shows that work experience, more than education, is a key factor in employability.

EOH’s Brian Gubbins recently spoke to 702’s John Robbie and noted the importance of giving the youth work-ready skills. “To give a young person a year’s work experience, shows an 80% likelihood of that person staying in the formal work sector,” he said.

EOH has successfully trialed the initiative in their own business for the past four years, with great results. In 2012, they had 4 000 employees, and brought in 600 unemployed youth through learnerships and internships.

“These were kids with matric, or a university qualification, generally from very poor backgrounds and yet their motivation was amazing and by the end of the year EOH absorbed around 80% into the business – with a huge benefit to the business as well as the youth,” said Gubbins.

Since then, EOH has brought in approximately 2 000 unemployed youth and continue to grow a significant portion of those, into permanent roles.

For companies who are interested, EOH has a model to help implement and roll out a sizable internship and learnership programme in their organisations.

Related: 11 Uniquely South African Business Ideas

“We were impressed at the scale and sustainability of the EOH programme, and the passion they have for it because they have seen the broader benefits that these youth bring to their whole workforce” said 702 station manager, Thabisile Mbete.

“We believe that unemployment is one of the most dangerous issues affecting our society at the moment and if corporates and companies of all sizes adopt this initiative, we think we can make a real difference to job-seeking youth, and to the country.”

For details on the EOH 702 Job Creation Challenge and how to implement it in your workplace, visit www.eoh.co.za.

Entrepreneur Magazine is South Africa's top read business publication with the highest readership per month according to AMPS. The title has won seven major publishing excellence awards since it's launch in 2006. Entrepreneur Magazine is the "how-to" handbook for growing companies. Find us on Google+ here.

Continue Reading
Advertisement
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Entrepreneur Today

She Works Hard For Her Money – So Pay Her On Time

Sage research finds that female entrepreneurs suffer more negative effects from late payments than men. Charles Pittaway, Managing Director of Sage Pay, comments on the importance of equal pay for equal work.

Entrepreneur

Published

on

woman-business

Women fight inequality and discrimination every day. They fight for equal pay for equal work. They challenge gender stereotypes in their careers and personal lives. They question unfair social and political norms. They unify under passionate causes, evidenced recently by the #MeToo and #TimesUp campaigns.

With female business builders making up nearly 40% of the global workforce – and heading up 72% of micro-enterprises and 40% of small enterprises in South Africa – any kind of discrimination is unacceptable from a cultural and economic point of view, especially when it involves failure to pay what is owed.

The impact of late payments on small businesses has been widely discussed as an issue that must be eradicated for all entrepreneurs, regardless of gender. But inequality still exists and more needs to be done to eradicate it.

Recent research by Sage highlights that this discrimination doesn’t just impact women in large corporates. Indeed, it identified a worrying trend: female entrepreneurs are more likely to suffer from late payments than their male counterparts.

South Africa was among the six regions (out of 11) surveyed by Sage that reported higher instances of women business builders being paid late. Businesses run by female entrepreneurs in South Africa report that 18% of invoices are paid late and 10% of invoices are written off as bad debt.

Small businesses cannot absorb these costs nor the lost hours spent on admin – amounting to R564 000 in South Africa. The result can be disastrous: in the next 12 months, 1 in 4 female entrepreneurs will prioritise chasing late payments to be more cost efficient, and ironically will become less productive. If these businesses are not paid on time, they will also struggle to pay bonuses and suppliers, and will be forced to delay investments in their businesses.

Related: Watch List: 50 Black African Women Entrepreneurs To Watch

The fact that late or non-payments is a more common occurrence experienced by female entrepreneurs is part of a wider problem. Women report more instances of sexist comments, disregard for their business ambitions and lack of female mentors as significant underlying reasons why there is now a heightened cultural stigma around chasing late payments amongst female entrepreneurs – more so than men.

In South Africa, the stigma extends past culture, with 40% of Small & Medium Businesses failing to follow up on late payments to protect client relationships. Time and resources are also challenges, with 24% of small businesses saying they don’t have a dedicated resource to chase payments and 13% saying they don’t have time.

There is no place for bias in business – all entrepreneurs should be free to pursue their ambitions without suffering the consequences of these cultural barriers that are encountered far too often – regardless of gender.

Now is the time to disrupt and challenge these harmful stereotypes and create a force for good, making sure that small businesses – the engine room of all economies – are paid what they are duly owed for the services they deliver to our economy.

Continue Reading

Entrepreneur Today

#RiseToTheChallenge Now By Visiting The SleepOut™ Movement

The SleepOut™ Movement was born out of a desire to address homelessness as a threat to human dignity and the realisation of fundamental human rights. The SleepOut™ Movement is underpinned by the philosophies of Social Innovation and Engaging Business ‘As A Force for Change’.

Entrepreneur

Published

on

ceo-sleepout

Primary Beneficiaries appointed by The CEO Sleepout Trust™ for 2018 are Liliesleaf Farm and Museum and The Qunu Food Security Project. These Primary Beneficiaries will be awarded a portion of funds raised from a series of The SleepOut™ Movement Events taking place during July this year honouring the 100th anniversary of Nelson Mandela’s birthday. Donations by the Trust to Primary Beneficiaries from previous years’ events amounted to an impressive R38-Million.

“Action without vision is only passing time, vision without action is merely day dreaming, but vision with action can change the world!”, Nelson Mandela.

The SleepOut™ Movement brings together Businesses and Influencers to purposely and effectively address the Five Pillars that alleviate homelessness: Shelter, Nutrition, Healthcare, Education, and Community. Curated by social enterprise The Philanthropic Collection, whose mission is Creating Conscious Capital, The SleepOut™ Movement aims to spearhead innovation in philanthropy by moving beyond current practices and beliefs, employing business strategies to do good for others.

The SleepOut™ Movement’s mission in 2018 is embodied by its Special Chapters, The Nelson Mandela CEO SleepOut™ – Liliesleaf Edition and The Nelson Mandela Legacy SleepOut™ – Robben Island Edition.

Related: The Kindling Of The Entrepreneur Spirit

On Wednesday 11 July 2018, The Nelson Mandela CEO SleepOut™ – Liliesleaf Edition, aims to host 200 CEOs (each with four distinguished guests whom embody Madiba’s leadership and humanitarian qualities) as they #RiseToTheChallenge, spending a winter’s night at the iconic Liliesleaf Farm and Museum in Rivonia, Johannesburg.  In addition, an auction will be opened to participating CEO’s for Madiba’s outside bedroom at Liliesleaf where he, Madiba, spent countless hours writing, reading and reflecting. Opening bids start at R250 000.00 with an overall goal of raising R30-Million.

On Wednesday 18 July 2018 and what would have been Madiba’s 100th birthday, 67 Global Influencers, Business leaders and Celebrities will spend the night on Robben Island, inside the maximum-security prison and courtyard where Mandela spent 18 years. On this same night, an auction will be held for the highest bidder commencing at $250 00.00 to sleep inside Cell Number 7 – Madiba’s home during his imprisonment. The aim is to raise $6,7 million through our 67 Participants at a Pledge of $100,000.00 each.

As a Primary Beneficiary focused on Community Upliftment, Education and Nutrition, the Qunu Food Security Project is operated by Dr. Brylyne Chitsunge, Pan African Ambassador for Food Security, who stated, “Through the funds generated as a Primary Beneficiary of The SleepOut™ Movement our plan is to develop a platform for Agricultural Stakeholders to work with 250 members of the Qunu community on Mandela’s farm ensuring the development of agriculture and commercial farming within More/….2

South Africa. The funds received will determine how many farmers are trained, the amount of product supplied and the number of bursaries that can be awarded to Scholars wanting to study Agriculture”.

Beneficiaries/….2

The second of the 2 Primary Beneficiaries is Liliesleaf Farm & Museum, once the nerve centre of the liberation movement and a place of refuge for its leaders, and is today one of South Africa’s foremost, award-winning heritage sites, where the journey to democracy in South Africa is honoured.    

Recognised as one of South Africa’s leading heritage sites, Liliesleaf opened to the public in June 2008 and has since attracted thousands of local and international visitors, eager to understand and engage with a pivotal period in South Africa’s liberation struggle. Sir Nicolas Wolpe, CEO of Liliesleaf Trust, states, “We are honoured to have not only been chosen as the venue for The CEO SleepOut™ but also as one of the Primary Beneficiaries of The SleepOut™ Movement enabling us to continue our work in preserving our heritage as an important symbolic presence of our country’s struggle and through our educational programmes we continue to inspire younger audiences to face the challenges of today”.

Related: How To Develop A Unique Brand Name In A Global Marketplace And Protect It

In addition to the Primary Beneficiaries The SleepOut™ Movement benefits a number of Secondary as well as Satellite Beneficiaries, with the funds raised through the 2 auctions taking place at Liliesleaf and on Robben Island benefitting the Prison-to-College Pipeline SA developed through a partnership between Stellenbosch University and the South African Department of Correctional Services & Western Cape Community Organisations aimed at integrating them back into their communities.

#RiseToTheChallenge now by visiting The SleepOut™ Movement – https://theceosleepoutza.co.za

Continue Reading

Entrepreneur Today

New Application Round For Growth Fund: SA SMEs Can Apply For Grant Funding By 29 June 2018

A new application round has opened for the R12.8million Growth Fund to boost SME growth and job creation.

Entrepreneur

Published

on

business-growth-funding

The Growth Fund is a grant fund specifically for growing South African small businesses who need a cash injection to scale up further and create jobs.

The Growth Fund is managed by CDI Capital, which was incorporated as a CDI subsidiary in 2016 to catalyse funding for SMEs. The funding has been enabled through contributions by the National Treasury’s Jobs Fund, the Technology Innovation Agency (TIA), and the Western Cape Department of Economic Development and Tourism (DEDAT).

The Growth Fund is open to South African-owned businesses who operate within South Africa, who are at least one year old with turnover or assets above R1m.

Each applicant must demonstrate their year on year growth and/or the potential for sufficient growth and must be tax compliant. Applicants also need to match 20% of the contribution of the Fund through a cash contribution to achieve agreed objectives. Importantly, the business must be able to create new jobs.

Related: 3 Start-up Funding Tips To Help Launch Your Company

SMEs that meet the criteria for funding, can apply online, and are taken through a diligent process of selection and support, whereby successful applicants contract for a three-year intervention and disbursement plan, performance managed by quarterly reporting, oversight and inspection, bespoke mentorship, and business development support.

Respected as one of most successful and longest-standing SME development organisations in SA, CDI provides support to over 4 300 SMEs who in turn create over 11 100 jobs or income-generating opportunities. In its first funding round (2012 – 2015), the CDI exceeded targets, creating 464 jobs in 45 businesses. Participating SMEs grew their combined annual revenue by 73% over the three years.

Funding is limited to the first 60 approved applicants. The application deadline is 29 June 2018.
For more information and to apply, visit www.cdicapital.co.za/GrowthFund

Continue Reading
Advertisement

SPOTLIGHT

Advertisement

Recent Posts

Follow Us

Entrepreneur-Newsletters
*
We respect your privacy. 
* indicates required.
Advertisement

Trending