South Africa contributes a large portion of its national budget towards education and skills development. Approximately 1.5% of our Gross Domestic Product (GDP) is contributed towards education and training after school, most of which is received by vocational colleges and the National Skills Fund, among others. The Importance of Training Economic Benefits The majority of [...]
While there is no denying the importance of networking in the modern business environment, it is important to note that not all networking is the same. There are networking practices you should leave at the door on your way to your next event or meeting. Don't take friends with you to a professional networking event. Unless [...]
The Energy and Water Sector Education and Training is a statutory body established in terms of the Skills Development Act (1998) as amended; to advance skills levels in accordance with the National Skills Development Strategy (NSDS) III. The SETA Grant Regulations (2012), as amended, prescribe that 80% of discretionary grant must be allocated to Professional, [...]
Studies have shown that investing in corporate training can have enormous long-term benefits for you and your organisation. Upskilling is simply training that allows your workers to do their jobs – but better. You shouldn’t implement training and upskilling for its own sake. For it to have any value, you need to make sure it [...]
The development of your staff is very important in business, mainly because they are the driving force in moving your business forward. Regular skills development is essential in ensuring ongoing business development. There are a number of important reasons why skills development training can be beneficial to the business and should therefore be made a [...]
Leverage your size to their benefit: Help SMEs by giving them favourable terms on raw materials; allowing an SME to pay bulk prices for small quantities will help them compete against larger businesses. This is not a handout, but can prove to be a huge enabler for SMEs. Stick to specifics and pay on [...]
As small businesses in South Africa are recognised as a driving force for economic growth and creation of jobs, enterprise development programmes offered by government and corporates offer black entrepreneurs the opportunity to find support and training to further develop their small businesses. Businesses serve a critical role in driving more inclusive and sustainable development. [...]
Enterprise development is defined as the act of investing time and capital in helping people establish, expand or improve businesses. Enterprise development helps people to earn a living; it helps them out of poverty; and it leads to long-term economic growth for themselves, their families and their communities. Not only is enterprise development one of [...]
The Department of Labour (DOL) takes non-compliance with the provisions of the Employment Equity Act and shows that they will not hesitate to bring the maximum penalty against defaulters. If you are a designated employer, you have only 2 months to prepare for your Employment Equity Report submissions. Designated employers are those that either have [...]
In South Africa, Broad-Based Black Economic Empowerment (BBBEE, or BEE as it is more commonly known) is a complex system of rules and guidelines designed to effect socio-economic transformation by levelling the playing field for people of all races. While the major legislation involved is the Broad-Based Black Economic Empowerment Act, No.53 of 2003 [...]