Business incubators, as recognised in their contemporary form, have a history dating back to the 1970s in the United Kingdom and the USA. South Africa is no stranger to this concept of business incubation either: Since the 1980s the Small Business Development Corporation (SBDC) operated business “hives” as clusters of small enterprises. Business incubators are support facilities that empower and stimulate small-entrepreneurial businesses – from the financially vulnerable start-up period, until the time that the fledgling company is ready to operate more autonomously. Business incubators provide, as part of their services, affordable space, financial-management services, sound business advice and other development services. Incubation stimulates the development of small-entrepreneurial businesses and, to this end, helps stimulate the economy. Thus, for South Africa to invest in the development of small growing businesses, is to invest directly in its larger economy and to address its own development challenges like employment-creation, income-generation and the alleviation of poverty. It is in this context that this study discusses the development challenges of one of the rural areas in South Africa, Oudtshoorn, and aims to provide a viable strategy of business incubation for this area, in anticipation that in future lessons can be drawn from this and applied to other rural areas. Oudtshoorn is a town in the Klein Karoo, in the Western Cape Province of South Africa. The strongest sectors in Oudtshoorn’s economy are agriculture and tourism. These two sectors should provide the basis for an empowering business incubator to strengthen and enhance smaller businesses in the town. The study focuses on the development challenges of South Africa and, in particular, a rural town such as Oudtshoorn, the importance of investing in small entrepreneurial businesses so as to strengthen the country’s economy. the nature an significance of a business-incubation strategy for the Oudtshoorn area. Background literature on South Africa’s development challenges was collated as well as information gathered on small-business support and incubation in particular. Literature was retrieved from local institutions as well as national and international sources. Case studies of incubators in South Africa and in other countries were included to enhance the understanding of the importance of business incubation. In addition, the researcher’s close networks with the Oudtshoorn municipality, the local Red Door office and the different role-players in the small-business support sphere allowed for an in-depth assessment of support for such an incubation project and the critical obstacles it may encounter en route.

The perception that someone has of an entrepreneurial career ultimately influences his/her decision to pursue such a career path. By investigating employees' perceptions of owning a business, this study provides insights regarding the question of why so few South Africans embark on this path. Entrepreneurship is regarded by many as the solution to South Africa’s employment and economic problems. As such, an understanding of the reason why some people become entrepreneurs and others do not could provide solutions on how to stimulate entrepreneurship among all South Africans, and hopefully increase the levels of entrepreneurship in the country. The purpose of the study was to contribute to the field of entrepreneurship by investigating the perceptions and attitudes that employees have regarding an entrepreneurial career, that is, to ask employees what they think having their own business might be like. By investigating these perceptions, the researcher looked for reasons why many individuals remain in the employment of others rather than embarking on an entrepreneurial career, as well as establishing whether these employees had intentions of starting their own businesses, Therefore the primary objective of this study was twofold, namely to establish the perceptions that employees have regarding self-employment, running their own business or following an entrepreneurial career, and to establish the influence of these perceptions on their entrepreneurial intentions. After conducting a comprehensive literature study and examining the various models of intentions, attitude towards the behaviour was identified as having the strongest influence on entrepreneurial intentions. Attitude towards the behaviour is the extent to which an individual makes a favourable or unfavourable evaluation of the behaviour in question, and additionally is a function of beliefs applicable to the behaviour. Attitude towards the behaviour is closely related to perceived desirability, and “desirability” is a form of value. More specifically, work values have the propensity to significantly predict career choice. For the purpose of this study, the 14 work values identified by Farrington et al. (2011) served as the factors to be investigated in establishing the perceptions of an entrepreneurial career. The independent (work values) and dependent (entrepreneurial intentions) variables investigated in this study were defined and operationalised. Reliable and valid items were sourced from existing studies. Respondents were identified by means of convenience and snowball sampling, and a structured questionnaire was made available to the respondents. The data gathered from the 184 usable questionnaires was subjected to various statistical analyses. The validity and reliability of the measuring instrument were confirmed by means of an exploratory factor analysis and calculating Cronbach-alpha coefficients. Descriptive statistics were calculated to summarise the sample data distribution. Pearson’s moment product correlations were calculated to establish the correlations between the various work values and entrepreneurial intentions. Furthermore, a multiple regression analysis was undertaken to investigate whether relationships existed between the perceptions of an entrepreneurial career in terms of several work values and entrepreneurial intentions. The following work values were identified as influencing the entrepreneurial intentions of employees working in small businesses: - Stimulating; - Stability and advancement; - Flexibility; - Autonomy. The more the work values above were perceived to be experienced when following an entrepreneurial career, the more likely it was that the respondents in this study reported intentions of following such a career. In order to investigate the influence of the various demographic variables on the independent and dependent variables, an Analysis of Variance was performed. In addition, the post-hoc Bonferroni test was done to identify significant differences between the means scores of the various categories within each demographic variable. The practical significance of these differences was assessed by means of calculating Cohen’s d. The results showed a significant positive relationship between the demographic variable Population group and the dependent variable Entrepreneurial v intentions. In addition, relationships were identified between Population group and the intrinsic work values Challenging and Stimulating, the extrinsic-related work values Financial benefit and security and Stability and advancement, and the social-related work value Serving the community. A significant positive relationship was also reported between the demographic variable Entrepreneurial parents and the intrinsic-related work value Stimulating, the extrinsic-related work value Future prospects and the social-related work value Serving the community. The demographic variable Age showed a significant positive relationship with the extrinsic-related work value Financial benefit and security. This study has contributed to the field of entrepreneurship research by focusing on employee perceptions of entrepreneurship, and the influence of these perceptions on their intentions to become entrepreneurs. As far as can be established, no other study has adopted this perspective for understanding entrepreneurial behaviour in South Africa or abroad. Furthermore, no study has specifically focused on investigating entrepreneurial intentions among employees of small businesses.

Employment, economic growth and self-reliance are the appetites of every country. Small enterprise development is seen as an effective solution towards this goal depending on the availability of resources. Private equity finance is one of the key resources to enterprise development in a country. International case studies have shown that private equity finance can lead to enterprise development in a country. The aim of the study is to determine the contribution of private equity finance to enterprise development in South Africa. In order to get views from other role players in the private equity finance market, questionnaires were distributed to 200 private equity finance players and the response rate was 39%. The sample size comprised 61.5% males and 38.5% females. The majority of the participants were in the age group 25–34 and constituted 53% of the respondents, whilst those aged 35–49 years constituted 35.9%. A smaller number of respondents were in the age group 18–24 and 50 and above, which both comprised 11.5% as an aggregate. The results revealed that there is a positive correlation between enterprise development and private equity capital with 83% of the respondents agreeing and strongly agreeing that the business skills and expertise brought by private equity investors increase business performance. Of the respondents, 74.4% strongly agree and agree with the notion that most Small and Medium Enterprises do need the intervention of private equity investors. It is recommended that the government, through relevant legislation, needs to promote and encourage private equity investment. Some form of private equity investment such as angel investment needs to be formalized, as is available in other countries such as the United States of America and some countries in Europe. / MBA. University of KwaZulu-Natal, Durban 2010.

A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment of the requirements for the degree of Master of Management specialising in Entrepreneurship and New Venture Creation Johannesburg, 2017 / Existing literature indicates a positive relationship between human capital and entrepreneurial capital. This has been a dominant supported view for ages. Among other scholars, Unger, et al. (2011); Davidson and Honig (2003); still uphold the view that human capital influence entrepreneurial success to a certain magnitude. However, contemporary studies argue that although the relationship has been demonstrated for decades, some assumptions to the perception should be questioned as the world evolves over time. Unger (2011); Martin, et al. (2013), and more other scholars identify the modification of the traditional assumptions. In terms of these scholars, uncertainty remains over the magnitude of this relationship and the circumstances under which human capital is more or less strongly associated with entrepreneurial success. Consideration of fragmentation in today's study with regard to conceptualization of human capital, the choice of success indicators, the context of study provide some critical challenges to the traditional perception of consistent relationships. All these aspects provide some open gaps to be filled by research. Oostebreek, et al. (2010) sees a questionable relationship between human capital factors and entrepreneurial success, which in terms of Unger, et al. (2011) give rise for the consideration of a moderator approach to study the effects of human capital on business success in order to efficiently determine whether the stated relationships exist or not. Resourced-Based Theory (RBT) was used as theoretical framework to this study. Three main constructs and five sub-constructs have been used to formulate the conceptual model from which three hypotheses were developed and tested. Empirical studies was conducted among selected informal traders in Limpopo Province – focusing in three districts. 257 unregistered small business owners were potential respondents. A quantitative methodology was employed to collect and analyse data through survey research design. The Structural Equation Modelling (SEM) along with AMOS 23, SPSS were used as descriptive statistical tools to test the validity of the hypotheses. Both theoretical and applied implications will assist the knowledge-base of researches. Policymakers will also find the implications useful in industrial policymaking. This study provides recommendations which may assist further research and other related enquiries of academic nature. / MT2017

Thesis (M.M.)--University of the Witwatersrand, Faculty of Commerce, Law and Management, Wits Business School, 2016. / Alternative funding models for small and medium sized enterprises (SMEs) are more often than not reviewed from the perspective of the entrepreneur, in line with the need for funding in each growth phase. This research addresses the problem of funding availability for SMEs by interrogating what funding models are viable from the supply side through the growth phases of a small business in South Africa. The variables employed are loan amount advanced to the small business sector, risk appetite structures and measures, such as size, product, lending rate and sector. Using individual firm data in a cross section regression framework, the results of the study indicate a positive relationship between the size of the firm and the loan amount advanced. Evidence is presented that suggests that macroeconomic factors, such as the interest rate, do not have significant influence on lending. Further, and in confirmation of previous literature, this study indicates that there is a general lack of knowledge on how to fund small businesses in South Africa, and this research contributes to the existing literature by providing insights on the alternative models used by lenders to supply funding to SMEs. / GR2018

Submitted in the partial fulfilment for the Degree of Master of Arts in Development Studies Faculty of Humanities University of the Witwatersrand, March 2017 / The precarious existence of Uber drivers operating within Johannesburg’s metropolitan area is the primary area of study in which this dissertation has undertaken. Driver precarity, defined in the study as the loss of labour market security in various forms, is argued to stem from Uber’s sharing economy-inspired business model. The analysis of Uber’s business model, substantively focuses on the service’s dynamic pricing model of fare price setting, the implementation of a ‘rating’ system in which to evaluate driver performance and the use of ‘independent contractor’ labour. It is argued that each of these three Uber business practices place drivers in a position of precarity in the realm of their income, employment, work and job security. The study mobilises a qualitative research methodology, enlisting the methods of unstructured interviews on eight active Uber drivers, four autoethnographical observations on real-time work behaviour and document analysis to generate data for analysis. The prevailing argument made regarding Uber’s precarity-creation, is aided through a consultation of Guy Standing’s theorisation on precarity (2011), with Harvey’s flexible Accumulation theory (1990), Foucault’s Panopticism thesis (1975) and Hochschild’s emotional labour theory (1983) broadening the scope of the analysis. / XL2018

Thesis (M.M.(Finance & Investment)--University of the Witwatersrand, Faculty of Commerce, Law and Management, Wits Business School, 2017 / This study investigated whether the financial sector (private and public) is accessible to the SME’s and entry level entrepreneurs dominated by Black and poor people. The study employed a comparative analysis method; it compared the structure of the South African financial sector to those of India and Brazil, as newly industrialised countries. The finding indicates that the South African financial sector lacked the presence of state-owned financial institutions as in the comparable NCI countries to support SMEs and entry level Black entrepreneurs. The study then recommended the creation of state-owned microfinance institutions, whose performance will determine the need of state-owned banks / GR2018

The focus on entrepreneurs as drivers of the economies of nations has catapulted them into the forefront of the local and international marketplace. This has led to a demand for entrepreneurial education and training resulting in a plethora of different and often divergent views. One commonality that has emerged is that entrepreneurship can be taught; although it cannot be taught in conventional and traditional ways. It requires a move from traditional education and training to more enterprising participative and supportive forms of business development. It requires investments of time, resources and support. Incubators are facilities that are engaged with entrepreneurs and offer a variety of support including education and training. This study has assessed the effectiveness of training offered by the Seda Nelson Mandela Bay ICT incubator. There has been limited research undertaken on entrepreneurial education and training in an incubator setting. This study followed the qualitative paradigm. The sample comprised of 10 small businesses at the Seda Nelson Mandela Bay ICT incubator. Empirical data was obtained by interviewing the owners of the small businesses using an interview schedule. Issues such as the most effective training programme, content that it contained, methodology used and quality of the facilitator and applicability of the training programme were explored. The study found that the small businesses were opportunity driven rather than necessity driven and that the incubator served as a bridging facility in moving the businesses from the informal sector to the formal sector. The content of the training programmes was found to be effective when a mix of both theoretical and practical is offered especially with an emphasis on the underlying entrepreneurial themes of confidence, persistence and uncertainty and so on. It also found that training programmes should be linked to the life cycle of the business and address the specific needs of the small business owner. The start-up phase requires very specific training. Most of the facilitators were found to be experienced and empathetic. However, only a few were using a wider range of preferred learning styles favoured by entrepreneurs such as role playing, simulation, brainstorming and problem-solving techniques. The study also found that when generic training programmes are offered there was less recall on the part of the trainees. The management team of the incubator is an important determinant of the success of the incubatees and it is recommended that they need to be well versed in their sector and have good networking skills. There is a strong link between the theoretical and the practical content of training programmes especially where the emphasis is more on the practical content. It is recommended that facilitators pay attention to their relationship with trainees as it is a critical success factor in the training programme. Training programmes offered over a period of time add more value to the incubatee. This might be because of the mentoring and counselling that is available after each training module is completed. Finally, more research needs to be undertaken on the quality and effectiveness of training programmes offered by incubators to small businesses.

The main aim of the study was to analyze the socio-economic variables effecting agritourism business using data from two rural communities of the Limpopo province, Nwa’metwa and Lenyenye. The results showed that there are significant socio-economic differences among agritourism and non-agritourism farmers. The socio-economic variables used are literacy, gender, age, land size and family size. Two multinomial models were used to model agritourism behavior. The two models, namely fully and partially registered agritourism farmers were estimated. Non-registered agritourism farmers were used as the reference group. These models denoted the relative probability of both fully and partially registered agritourism farmers to the probability of the non-registered agritourism farmers. The logarithm results implied that older farmers were less likely to prefer to operate business as a fully or partially registered agritourism farmer compared to the non-registered agritourism group. Farmers’ decisions in business operation were informed by their level of education, experience as well as social networks. / Agriculture, Animal Health & Human Ecology / M. Sc. (Agriculture)

Thesis (M.Tech.: Entrepreneurship)-Dept. of Entrepreneurial Studies, Durban Institute of Technology, 2003 ix, 90 leaves / The South African economy is unable to support the employment needs of the growing number of graduates. In an attempt to address these needs, the proposed study focuses on the development of an incubator system to nurture young entrepreneurs (graduates), until they are able to survive independently – usually in two to three years.