Genuine Entrepreneurs are the engine of sustainable economic growth and innovation in South African as a nation. Under proper governance and encouraging environment, they can make a pivotal contribution to the socio-economic development of the continent. However, entrepreneurs, particularly owning Small and Medium Enterprises (SMEs), have continued confronting formidable challenges.
With a high number of SMME falling within a period of 5 years, it is time for the economic burden to be lifted off the Government and for entrepreneurship, diversification and individual empowerment to carry us forward.
Today the problems South Africa faces seem big, and it seems the only force strong enough to fight them is the government. We say this and yet we ignore the potential we have within us and if we come together, everyone contributing. For this to be achieved mobilization of resources and acting courageously is our only recourse.
The current rate of unemployment in South Africa estimated to be about 24% (CIA World Fact book, 2012) is unacceptable. South Africa currently has one of the highest unemployment rates internationally. Our economy had entered a period of "jobless growth". More and more of our young graduates are either unemployed or are placed in wrong positions.
Research has shown that South Africa is facing structural unemployment and something needs to be done fast and now. South African youth over dependence on government to create jobs must come to an end. Not only are we having high rate of unemployment but always a very low entrepreneurial activity as compared to others developing nations (2009 GEM Report, entrepreneurial activity amongst male South African is about 7% and female about 5%).
The most affected by these rates are young graduates. They lack the necessary skills, inspiration, motivation and acumen to take advantage of their creative and innovative minds.
There is lack of entrepreneurial culture and skills among South African Youth. Among others, the Gauteng Youth Entrepreneurship Drive (GYED) will:
- Provide opportunities for young people to cultivate innovative business / service ideas; develop entrepreneurial skills and create new opportunities / businesses for the job creation and economic development of South Africa.
- Stimulate entrepreneurial culture within our communities and cultivate a culture of dynamism and technological innovation.
- Encourage youth with good business ideas to take the "first step".
- Facilitate the provision of funding to young entrepreneurs who meet the criteria of the funding partners.
- Embrace the education provided by entrepreneurship institution
- Provide the opportunity to our entrepreneurs to meet with experienced managers, established entrepreneurs, and venture capitalists.
Article by:
Calvin Makhubela @CalvinMakhubela
Abuti Rams @abutirams
For more information, email info@gyed.co.za or call 012 771 3734. You can subscribe to the newsletter on www.gyed.co.za/subscribe