YOUTH UNEMPLOYMENT
SA’s education system killing off entrepreneurship
Report reveals South Africans’ ‘entrepreneurial intention’ lags way behind African peers
For a country that has produced companies such as Bidvest, African Rainbow Minerals and Discovery, it’s hard to imagine entrepreneurship in SA is falling behind its African counterparts. Yet this seems to be the case. The latest South African Global Entrepreneurship Monitor (GEM) report found that only 10.1% of South Africans of working age intend starting their own business in the next three years, compared to 41.6% in the other African countries that were surveyed. Even more disconcerting is that this rate of "entrepreneurial intention" has been declining in SA over the past few years. In 2013 it stood at 15.4%, while in 2010, it was 19.6%. This is a deeply troubling statistic in a country that desperately needs a vibrant small business sector to reignite its economy. Research in many other developing countries has shown that small and medium-sized enterprises can have a significant effect on reducing unemployment and driving growth. But in SA, a declining number of people believe...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.