Yours to make or break: Street Business School students handed businesses to run
In an attempt to create SA’s next generation of CEOs‚ a Johannesburg businessman is about to put 10 inexperienced entrepreneurs in charge of his businesses. Gary Bannatyne‚ managing director of The Digital Academy‚ says his Street Business School turns the education model on its head by giving "students" the chance to learn how to be business owners and get paid for it. Bannatyne and his team are selecting 10 candidates from 150 applicants for a three-year programme in which they will be handed resources and a business to "take and break". "The business needs to be pushed to failure or success. If the performance of the individual does not conform to the fast-moving pace and culture of Street Business School‚ the individual will be exited‚" says the school’s website. Every year‚ students will have the chance to take a 20% share in the business they run‚ so that by the end of the three years they could own 60%. "They will be making managerial decisions within the first year‚ so they ...
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