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28 May 2012

10 out of 14 young South African entrepreneurs are back from a six week business mentorship programme in the United States (US) that is designed to propel their businesses to success.

The young entrepreneurs were paired with seasoned US based entrepreneurs who will continue to provide them with support in South Africa. The young entrepreneurs also benefited from in classroom business theory training at Sierra Nevada College and Lake Tahoe Reno.

An initiative of the National Youth Development Agency (NYDA) in partnership with Evo Media and IBA Global, the Young Entrepreneurship Programme’s (YEP) six weeks mentorship in Lake Tahoe Reno, New York and California provides young entrepreneurs with exposure to mentors who share knowledge and provide business guidelines to help with business profitability and sustainability.

The businesses that benefited include a company that customises rare vintage bicycles; a fashion label; a premier restaurant at Mandela Park township; a company that collects, transports and disposes waste oil; a publishing and language agency and a company that manufactures handmade toxin free natural skin and hair care products.

The YEP, one of the initiatives that the NYDA is involved in to increase South Africa’s entrepreneurship activity, is running for the third year. According to the Total Entrepreneurship Activity Index, South Africa’s total entrepreneurship activity stands at 8.9% compared to Brazil at 17.5%, China at 14.4% and India at 12.1%.

The US based mentors are expected to visit South Africa in August 2012 so that they can see first-hand how the young South African entrepreneurs have gone about implementing what they have learnt in the YEP and offer additional advice and assistance.

Enquiries:
Refilwe Mphane
Tel: 011 651 7175
Cell: 071 037 6559
Email: refilwe.mphane@nyda.gov.za

Issued by: National Youth Development Agency
28 May 2012

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