Photo: Pixabay

  • Entrepreneurs are considered a key part of solving joblessness, but many stick to paid employment while hustling on the side.
  • To take some of the risk out of going full time, Standard Bank is offering side hustlers a year's salary, up to R1 million.
  • Those who don't win the final prize still get bootcamp training, perhaps giving them the confidence to make the leap.

Too many entrepreneurs are not willing to take a leap of faith and so end up as side hustlers while holding down full-time jobs, Standard Bank says – and it wants to change that.

The bank's new campaign, My Fearless Next, will take the most promising side hustlers it can find, put them through a bootcamp, and offer one contestant the chance to go full time, with a salary of up to R1 million paid for a year.

"The campaign is targeted at young entrepreneurs who have full-time corporate jobs, but have to start a small business either to earn additional income or fulfil their entrepreneurial ambitions," says Cleo Zwane, Standard Bank's senior marketing manager for business banking.

See also: The 12 best side-hustles in South Africa right now

"What we want to do is remove the risk of being without a salary."

The campaign will take in six contestants every week and put them through a one-day training bootcamp, with more established hustlers and entrepreneurs as their trainers.

One winner will be selected each week. A final winner will be selected from the six weekly winners.

The winner will also be mentored through the bank's entrepreneur development programme.

See also: 12 books you should read before starting a business

To enter, candidates need only an active Standard Bank account – and an actual, operational side business.