The Hope Factory

What is the solution to broad based economic development and empowerment for the unemployed?

What should the country strategy be for South Africa in this area?

The Hope FactoryEntrepreneurial activity by phase of economic development (GEM 2009)

Entrepreneurial activity (GEM 2009)

Entrepreneurial activity (GEM 2009)

High Growth/Job creation expectation amongst early stage entrepreneurship

The Hope Factory

WHAT IS NEEDED ON A BROAD LEVELClear long-term vision and strategy, that can produce fast and effective results in the short term, but can produce economic growth and true empowerment in the long term.

This needs to include clear strategies on:- the true empowerment of an individual- creation of jobs- broad based enterprise development

The Hope FactoryTRUE INDIVIDUAL EMPOWERMENT

Change in the heart and mindMotivation to develop themselves and take ownership of their futureVision, and achievable goals to get thereSkills – Training and developmentOpportunity to practice and develop those skills further – work experienceMentorship, support, guidance to keep going

Become part of economic growthBecome an empowered responsible citizenBuild a platform for the next generation

The Hope Factory

Creating Jobs

A critical part to individual empowerment, financial independence, and economic growth, is people being able to work and earn a living.

Entrepreneurship alone will not create the jobs that are needed, and neither will the current formal sector.

The Hope Factory

Broad based Enterprise DevelopmentEnterprise Development was created by government, to try to stimulate economic growth (specifically for emerging black owned business) through companies investing in BEE emerging companies. When looking at how this has played out, one can see that a large focus of this has been around emerging black entrepreneurs, or assisting small businesses. However a broader approach is needed to include grassroots development and a focus on job creation.

The Hope Factory Model

Phase One: Entrepreneurial Training

Upskilling for Entrepreneurial Participation (Business, Technical, Life skills – currently 20 weeks)

(Development of the individual)

Developing their capacity within The Hope Factory(Working within a HF Enterprise for 3 months to a year)

Gaining work experience and earning an incomeFurther development

Phase Two: Job Creation / Incubator

Placed Formal Sector

THF Small Business Enterprise Program

EntrepreneursPhase Three

The Hope Factory

Focus on:Upskilling individuals through training and development Helping create enterprises that are sustainable into the future

Effectiveness as a model:800 trained

76% earning sustainable incomes

The Hope Factory

The Hope Factory