High unemployment, low economic growth, structural inequality and spatial divides are recognised contextual challenges facing South Africa. Everyday technology changes the world of work as we know it, as occupations or part-occupations become obsolete and new ones emerge. This has significant implications for skills demand in an ever-changing world. The reality is that new net job creation within the formal sector cannot absorb the 6,1 million unemployed people, many of whom are youth.
New Venture Creation and Business Advisory occupational qualifications fall under the scope of the Services SETA as do several other qualifications relevant to emerging, small and growing businesses and cooperatives, including business administration, project management, general management, human resources, labour relations, communication and brand management, and sales and marketing. Furthermore, the services sector has many opportunities for entrepreneurial activity.