Cape Town - Coca-Cola Beverages SA (CCBSA) is working with young people to help them triumph over challenges as most young people struggle to find work and many have given up hope.
CCBSA is introducing them to the possibilities of entrepreneurship through a concept dubbed Bizniz in a Box. This initiative gives young people between the ages of 24 and 35 and living in townships the opportunity, skills and funding to set up and run their own successful container shops.
From December last year to February this year, total revenue for the first six shops increased from just over R50 000 a month to more than R200 000, demonstrating the great potential of the programme.
Talented young people are selected, trained in marketing, sales, stock management and finance and given access to funding to start their container business – literally a business in a box.
“Aspiring entrepreneurs in SA face a number of challenges including a lack of funding and skills, fierce competition from bigger companies and regulatory challenges. These common hurdles have resulted in high failure rates for small businesses,” says Tsholofelo Mqhayi, head of enterprise and community development at CCBSA.
“Through the Bizniz in a Box process, we’re helping young people set up and manage thriving businesses in their communities.”
The programme grooms young entrepreneurs to run their own businesses through on-the-job training. This means they are assessed on their actual performance in a live environment, rather than in a classroom set-up only. It also gives candidates a taste of what it’s like to operate a micro business independently.
Once they’ve completed repayment of a portion of the capital cost of the store and met the performance criteria, the store is officially handed over to them and their new life as a fully independent entrepreneur begins.
They are also encouraged to start thinking about other opportunities outside their shop, such as opening up a franchised business.Read Fin24's top stories trending on Twitter: Fin24’s top stories