New Venture Creation

The purpose of the NQF level 2 New Venture Creation qualification is to provide a qualification that can form the basis for structured programmes for potential and existing entrepreneurs to capitalise on opportunities to start and grow sustainable businesses that form part of the mainstream economy, enabling the learners to tender for business opportunities within both the public and private sectors.

This qualification is designed for learners who intend to set up or have already set up own ventures. Assessment of the competencies and knowledge in the qualification needs to be done in the context of the learner’s own new venture. Research has indicated that people working with their own new ventures at this level need the following competencies:

• Acquisition of an entrepreneurial profile which includes an innovation orientation
• An understanding of the industry/sector in which they wish to establish a new venture
• An ability to match new venture opportunities to market needs within a chosen industry/sector
• An ability to determine and manage the financial requirements of a new venture An ability to match new venture opportunities to market needs
• An ability to compile and utilise a business plan to manage a new venture and also where relevant, to seek funding for a new venture

The future of South Africa’s economy does not just lie in the formal sector, but within the informal SMME sector too. This is a growing part of South Africa’s economy and requires substantial focus from a developmental perspective. The small business sector is growing and it is in light of this that various stakeholders have taken the initiative to provide mentorship programmes that will assist budding entrepreneurs to become a more integral part of the mainstream economy, serving both the public and private sectors. Apart from the formative development that can take place via these programmes, it also provides for sustainable development.

The qualification will enable entrepreneurs to:

1. Develop appropriate skills and knowledge for the establishment and development of an enterprise
2. Address the economic, administrative and behavioural barriers that contribute to failures in starting and sustaining an enterprise
3. Create long-term solutions for job creation and SMME development via the building blocks and structure of a qualification that practically addresses the learning requirements of budding entrepreneurs
4. Use basic Mathematics in order to fulfil new venture functions effectively
5. Apply basic Communication skills in new venture creation context
6. Determine market requirements and manage the relevant marketing and selling processes
7. Demonstrate an understanding of the sector/industry in which the business operates
8. Determine financial requirements and manage financial resources of a new venture
9. Manage business operation

Entry requirements

Learners should be competent in Communication and Mathematical Literacy at NQF Level 1. If students do not have any previous qualification they are able to complete recognition of prior learning.

Recognition of Prior Learning (RPL)

Learner and Assessor will jointly decide on methods to determine prior learning and competence in the knowledge, skills, values and attitudes implicit in the Qualification and the associated Unit Standards. Recognition of Prior Learning will be done by means of an Integrated Assessment to provide students with:

• Accelerated access to further learning at this or higher levels on the NQF
• To gain credits for Unit Standards in this Qualification
• To obtain this Qualification in whole or in part

All recognition of Prior Learning is subject to quality assurance by the relevant ETQA or an ETQA that has a Memorandum of Understanding with the relevant ETQA.

Qualification Options

The full qualification is made up of Unit Standards that are classified as Fundamental, Core and Elective. A minimum of 138 credits are required to complete the full qualification.
Credits are allocated as follows:

• Fundamental : 36 credits : 27%
• Core : 70 credits : 50%
• Electives : 32 credits : 23%
• Total : 138 credits : 100%

Fundamental Unit Standards

Unit Standards to the value of thirty-six credits are allocated to the subject areas of Communication and Mathematical Literacy. The Communications aspect focuses on basic communication skills required to fulfil entrepreneurial functions and this component caters for twenty credits. Sixteen credits in Mathematical Literacy have also been included in the Fundamental Component, focusing on the fundamental Mathematics and statistics required to complement entrepreneurial financial functions. In addition, the Mathematical component will enable the learner to utilize a range of patterns and functions to solve problems.

1. Access and use information from texts
2. Apply basic knowledge of statistics and probability to influence the use of data and procedures in order to investigate life related problems
3. Demonstrate understanding of rational and irrational numbers and number systems
4. Identify, describe, compare, classify, explore shape and motion in 2-and 3-dimensional shapes in different contexts
5. Maintain and adapt oral communication
6. Use language and communication in occupational learning programmes
7. Use mathematics to investigate and monitor the financial aspects of personal and community life
8. Work with a range of patterns and functions and solve problems
9. Write for a defined context

Core Unit Standards

Seventy credits have been allocated to Unit Standards in the Core Component of this Qualification. This is to ensure that the Qualification has a strong New Venture Creation focus. The Unit Standards classified as Core describe entrepreneurial knowledge and skills that are generic to various types of new ventures within varying industries/sectors. They provide an opportunity to develop knowledge of new venture creation through basic research, formal learning and business workplace practice and/or simulated situations. The Unit Standards encourage application of knowledge and skills in real situations, with particular emphasis on developing an entrepreneurial profile, matching new venture to market needs, financial management, business plan implementation, ethics and customer service.

1. Apply basic business ethics in a work environment
2. Apply the basic skills of customer service
3. Behave in a professional manner in a business environment
4. Determine financial requirements of a new venture
5. Identify and demonstrate entrepreneurial ideas and opportunities
6. Identify the composition of a selected new venture’s industry/sector and its procurement systems
7. Manage business operations
8. Manage finances for a new venture
9. Manage marketing and selling processes of a new venture
10. Match new venture opportunity to market needs
11. Produce a business plan for a new venture

Elective Unit Standards

There are Unit Standards totalling Ninety-one credits in this Component. These Unit Standards develop further the competencies and knowledge contained in the Core Component by focusing on learning areas pertinent to New Venture Creation. They will enable learners to gain specialist knowledge and skills, which are particularly relevant, or of interest to the learner. The Elective Component focuses particularly on teamwork and human resources management, business awareness, administration and records management, information systems, customer and public relations and industry awareness and procurement of new work.

1. Apply health and safety to a work area
2. Co-ordinate meetings, minor events and travel arrangements
3. Demonstrate knowledge and understanding of HIV/AIDS in a workplace, and its effects on a business sub-sector, own organisation and a specific workplace
4. Monitor and control the receiving and satisfaction of visitors
5. Outline the legal environment of a selected industry
6. Plan and prepare meeting communications
7. Plan, monitor and control an information system in a business environment
8. Tender for business or work in a selected new venture

There are several ways to enroll or take the  ” NVC ”  course. You can purchase the complete qualification, either of the modules or any of the unit standards.

  • The complete qualification includes all the course material, modules and unit standards.
  • Each module includes 1 or more unit standards.
  • Each unit standard can be bought separately.

Module 1: Innovation and Creativity

Module 2: Financing in a New Venture

Module 3: Business Operations

  • Identify the composition of a selected new venture’s industry/sector and its procurement systems – Unit Standard 119667
  • Manage business operations- Unit Standard 119668
  • Produce a business plan for a new venture – Unit Standard 119670
  • Administer contracts for a selected new venture – Unit Standard 119671
  • Assemble, install and dismantle exhibition stands – Unit Standard 117837

Module 4: Marketing Management

  • Manage marketing and selling processes of a new venture – Unit Standard 119672
  • Keep informed about current affairs related to one`s own industry- Unit Standard 14341
  • Tender for business or work in a selected new venture – Unit Standard 119712

Module 5: Business Communication

  • Apply the basic skills of customer service – Unit Standard 114974
  • Co-ordinate meetings, minor events and travel arrangements – Unit Standard 13929
  • Monitor and control the receiving and satisfaction of visitors – Unit Standard 13930
  • Plan and prepare meeting communications – Unit Standard 13934

Module 6: Professional Behavior

  • Apply basic business ethics in a work environment – Unit Standard 113924
  • Behave in a professional manner in a business environment – Unit Standard 114959
  • Apply knowledge of self and team in order to develop a plan to enhance team performance – Unit Standard 13912
  • Demonstrate knowledge and understanding of HIV/AIDS in a workplace, and its effects on a business sub-sector, own organisation and a specific workplace – Unit Standard 13915

Module 7: Compliance

  • Apply health and safety to a work area – Unit Standard 9964
  • Outline the legal environment of a selected industry – Unit Standard 13936
  • Plan, monitor and control an information system in a business environment – Unit Standard 13933