SA BADLY needs more entrepreneurs if it is to boost growth and tackle poverty. New changes to the black economic empowerment (BEE) codes — which are aimed at getting big companies to develop more black suppliers — are set to come into effect next month. They may just help.In February the Global Entrepreneurship Monitor (GEM) reported that the percentage of adults involved in starting or running a business less than three-and-a-half years old plunged last year by just over a third, to 6.97%, from 10.6% in 2013.GEM’s global report for 2014, which surveyed entrepreneurship in 73 economies, showed that the percentage of South African adults running established businesses (those older than three-and-a-half years) also declined, from 2.9% to 2.68%. SA continues to perform below other emerging economies, where the average rate of people running businesses that are less than three-and-a-half years old is 14% of adults, while the figure for established businesses stands at 4.5%. The Universi...
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