THE Virgin Group developed an approach which will offer entrepreneurs a unique start-up environment.
The new Branson Centre of Entrepreneurship, which opens next month, will house small businesses while offering them mentorship, all for free.
Judi Sandrock, CEO of the centre, said the idea started back in 2006 with the establishment of an entrepreneurship faculty at Cida City Campus.
"They found that the school was producing scholars and not entrepreneurs, so it had to be changed," Sandrock said.
She said the Virgin Group decided to adopt an approach which would grow entrepreneurs.
The new centre will be officially opened in Braamfontein, Johannesburg, in November.
It will offer premises from where the small business will operate.
"We offer services such as book-keeping, legal assistance, management of invoices and marketing support so that businesses can focus their attention on the core of their business," Sandrock said.
She said they planned to support 100 new entrepreneurs a year.
In the programme entrepreneurs get into a 12-week programme where they undergo training.
Any business can join the centre only if they are not involved in alcohol, gambling or cigarettes.
"All we are looking for are great ideas, a spirit and drive to start a business which will create employment," Sandrock said.
She said the centre would have mentors who meet the entrepreneurs on a monthly basis and who will tell when the business can stand on its own.
"If someone does not want to stand on their own we get worried because great entrepreneurs want to be independent."
Entrepreneurs will be screened on a business idea and their willingness to make the business work.
"They need to have a strong intention to create employment and the business needs to be labour-intensive," she said.
"It's about creating employment in South Africa."
Sandrock said the group wanted to created 11 similar centres across the country in the next three years. The same model will be used throughout the world where the Virgin Group has operations.
"We don't give out loans because we don't believe that businesses are built on debt. Businesses should be built on a great idea and grow organically," she said.
More information on the centre is on: www.bransoncentre.org
Virgin to help small business
THE Virgin Group developed an approach which will offer entrepreneurs a unique start-up environment.
The new Branson Centre of Entrepreneurship, which opens next month, will house small businesses while offering them mentorship, all for free.
Judi Sandrock, CEO of the centre, said the idea started back in 2006 with the establishment of an entrepreneurship faculty at Cida City Campus.
"They found that the school was producing scholars and not entrepreneurs, so it had to be changed," Sandrock said.
She said the Virgin Group decided to adopt an approach which would grow entrepreneurs.
The new centre will be officially opened in Braamfontein, Johannesburg, in November.
It will offer premises from where the small business will operate.
"We offer services such as book-keeping, legal assistance, management of invoices and marketing support so that businesses can focus their attention on the core of their business," Sandrock said.
She said they planned to support 100 new entrepreneurs a year.
In the programme entrepreneurs get into a 12-week programme where they undergo training.
Any business can join the centre only if they are not involved in alcohol, gambling or cigarettes.
"All we are looking for are great ideas, a spirit and drive to start a business which will create employment," Sandrock said.
She said the centre would have mentors who meet the entrepreneurs on a monthly basis and who will tell when the business can stand on its own.
"If someone does not want to stand on their own we get worried because great entrepreneurs want to be independent."
Entrepreneurs will be screened on a business idea and their willingness to make the business work.
"They need to have a strong intention to create employment and the business needs to be labour-intensive," she said.
"It's about creating employment in South Africa."
Sandrock said the group wanted to created 11 similar centres across the country in the next three years. The same model will be used throughout the world where the Virgin Group has operations.
"We don't give out loans because we don't believe that businesses are built on debt. Businesses should be built on a great idea and grow organically," she said.
More information on the centre is on: www.bransoncentre.org
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