Leo Chetty

Why entrepreneurship is vital for South Africa

Achieving the unimaginable.

Successful entrepreneurs, iconic figures, and world renowned achievers; their drive and their answer come from the same motivation: To achieve the unimaginable.

entrepreneurship is vital for South Africa

The Quarterly Labour Force Survey for the first quarter of this year released by Stats South Africa showing the growth in employment was offset by the increase in the number of job seekers who entered the market in the beginning of the year.

In the fourth quarter of 2016, unemployment stood at 26.5%.

Of the 433 000 of people who joined the ranks of the unemployed in the first quarter of 2017, approximately 58% were young people between the ages of 15 and 34 years. https://www.dailymaverick.co.za/article/2017-06-01-sa-unemployment-rate-rises-to-14-year-high/#.WX5Qq9OGNsM

These statistics leave little in the way of inspiration for young people hoping to join the job market. But is that the only option that they should be inclined to follow?

Entrepreneurship is the answer to curbing youth unemployment. By no means is this a new idea. But one that needs continual reinforcement. And continual education on accessing opportunities and creating businesses that address direct challenges.

Experience is necessary for aspiring entrepreneurs to understand how to establish and operate a business. That, however, should not be the defining factor for young people looking to start a business. Just starting where they are with what they have is the first best step. Asking for advice from other successful entrepreneurs in their environment will guide them well. And being well informed by reading the news daily and understanding trends will empower them in growing their enterprises.

One crucial aspect that can provide a major boost to youth actively pursuing entrepreneurship as a career opportunity, lies in a nurturing environment. It requires successful businessmen and women to pull together and mentor, guide and advise young people in spaces and places conducive to this thinking.

With competency based education at the heart of how people quickly upskill themselves for the realtime working world, entrepreneurship is the natural answer to youth unemployment in South Africa.

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