Umlazi Township economy recently got a massive boost, thanks to the University’s effort. Dr Sibonelo Mbanjwa, a Lecturer in the Department of Nature Conservation, described the seminar that took place between young innovators, local entrepreneurs, and various stakeholders dedicated to promoting economic growth and innovation within the community as a “tremendous success.” The meeting was called the Youth Entrepreneurship Event. It occurred at Umlazi Township’s Q Section Community Hall on 11 October 2024.
The seminar, hosted by the Nature Conservation Department in partnership with Community Engagement and Development (CEAD) at Mangosuthu University of Technology (MUT), aimed to equip MUT students and community members with essential entrepreneurial skills. It was crafted to inspire a spirit of innovation, self-reliance, and resilience among the youth, providing the targeted participants with the necessary tools to succeed in today’s economy.
The seminar’s objectives were to offer practical tools and insights on launching and scaling sustainable businesses, encourage innovation and entrepreneurial thinking among youth, connect participants with successful entrepreneurs, mentors, and business leaders, foster community-based entrepreneurship that drives social and economic development, and explore the role of technology and digital innovation in contemporary entrepreneurship.
The seminar was designed to nurture the growth and development of young entrepreneurs, providing them with a platform to learn from industry experts and explore innovative business strategies. Through a series of interactive sessions, participants gained valuable insights on business model development, financial management for start-ups, digital marketing and utilising social media for business expansion, and accessing funding and building sustainable enterprises.
Dr Mbanjwa said that during the seminar, they registered 30 businesses through the Companies and Intellectual Property Commission (CIPC) and the South African Revenue Service (SARS), “marking a significant achievement for our participants”. He said the event had a profound impact, leaving many students and community members inspired and ready to turn their entrepreneurial ideas into reality. “The collaborative atmosphere fostered new connections and ignited a renewed sense of purpose among attendees,” Dr Mbanjwa said.
The event involved collaboration with key divisions of the eThekwini Municipality. Speakers from the KZN Department of Economic Development, Tourism, and Environmental Affairs and representatives from the Office of the Premier delivered speeches that provided critical perspectives on government support for small businesses and entrepreneurial initiatives.