SA’s entrepreneur ecosystem needs sweeping overhaul
The lack of supportive infrastructure for start-ups reduces innovation in the economy, writes Owen Skae
Finance Minister Malusi Gigaba is repeating the threadbare mantra of creating more jobs, boosting entrepreneurship and growing SA’s economy, which has grown just 1% a year in real per-capita terms over the past 25 years. SA is not even out of the starting blocks of what could be achieved in the country. If the conditions for entrepreneurship were improved just 10%, another $176bn could be added to the economy — almost half of its current worth. This is according to a recent report commissioned and funded by the SAB (South African Breweries) Foundation and Allan Gray Orbis Foundation, in partnership with The Global Entrepreneurship and Development Institute, The Global Entrepreneurship Network SA and SEA (Sustainable Entrepreneur Accelerator) Africa. The report, The Entrepreneurial Ecosystem of SA: A Strategy for Global Leadership 2017, emphasises entrepreneurship should not be confused with self-employment. Entrepreneurship is about aspiration, opportunity and start-up growth by peo...