"The rate of unemployment in South Africa rose to 27.6% at the end of the first quarter (Q1) of the year. It’s the worst figure since Q3/2017, a nearly 15-year high. About 237 000 fewer people had jobs in Q1/2019 compared to Q4/2018. There are now 6.2 million South Africans who are actively looking for a job but can’t find one.

The Money Show’s Bruce Whitfield interviewed Kevin Lings, Chief Economist at Stanlib Asset Management."

Listen the the interview on Cape Talk

Tags: Enterprise Development News and opinions

"According to Statistics South Africa, the country’s unemployment rate has risen to 27.6% at the end of the first quarter of the year, the highest level since the third quarter of 2017. There are now 6.2 million South Africans who are actively looking for a job but can’t find one. To unpack what the unemployment rate, Eusebius McKaiser chats to Institute for Economic Justice policy director Neil Coleman, economist Dr Thabi Leoka and Studies in Poverty and Inequality Institute director Isobel Frye."

Listen to the interview on Cape Talk

Tags: Enterprise Development News and opinions

The NDP states that about 90 per cent of jobs will be created through small and expanding companies by 2030. On this episode, CNBC AFRICA will hone in on enterprise development from its role in the South African economy to whether or not the country has the right regulatory framework in place to help drive this sector with Nomvula Makgotlho, chief director of the Ministry of Small Business Development, Roy Ross, chief executive of Business Banking Africa for Barclays Africa, Miriam Altman, National Planning Commissioner and Matsi Modise national executive director of the South African Black Entrepreneurs Forum. CNBC Africa, 2015

Only 2 percent of South Africa's population start businesses that survive the three year mark. Growth in these numbers is important, however, as it will benefit the economy by providing jobs thus reducing social grants issued by government. Interview on CNBC Africa, 2013.

10 ways to spend Enterprise Development are:

  1. Provision of training or mentoring by suitably qualified entities or individuals to SMME’s which will assist the SMME’s to increase their operational or financial capacity; A Good example of this is’s Enterprise Development package!
  2. Investments in beneficiary entities (SMME’s);
  3. Loans made to beneficiary entities;
  4. Guarantees given or security provided on behalf of beneficiaries;
  5. Direct costs incurred by a measured entity in assisting and hastening development of beneficiary entities;
  6. Contributions made to settling service costs relating to the operational or financial capacity or efficiency levels of beneficiary entities;
  7. Relaxed security requirements or absence of security requirements for beneficiary entities unable to provide security for loans;
  8. Settlement of accounts with beneficiary entities over a shorter period of time in relation to the measured entity's normal payment period, provided the shorter period is no longer than 15 days;
  9. Providing training or mentoring to beneficiary communities by a measured entity;
  10. Payments made by the measured entity to suitably qualified and experienced third parties to perform Enterprise Development on the measured entity's behalf.

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Enterprise development involves investing money and time in small enterprises, so that they can become sustainable and grow. It can help people to escape poverty and earn a living, and in the process contribute to economic growth in South Africa.
Corporate social investment consultancy Trialogue has accordingly launched an Enterprise Development topic on its Trialogue Knowledge Hub, which now spans nine topics addressing subjects ranging from financial literacy to school leadership. It brings together local and international research, examples of best-practice projects, news and opinions, and many more tools. 

Read more: Trialogue and Eskom partner to promote enterprise development

Financial services firm Sasfin is the latest banker to add a small-and-medium sized enterprise-focused digital banking platform, which aims to help entrepreneurs to accelerate their businesses by making finance-related administration seamless.

A study by research firm Javelin Strategy & Research, titled 2018 Small Business Digital Banking & Payments Trends, states that access to viable mobile and digital banking technologies will also help boost financial inclusion of small to medium sized into any economy.

Read more in ITWeb

If entrepreneurship is really to be reinvented in South Africa it needs to be part of a larger paradigm shift at the level of the market economy. This includes:

  • A robust and interactive entrepreneurship ecosystem that offers equal access to opportunities, development tools and comprehensive access to resources.
  • A functioning ecosystem that connects everything, from suppliers, distribution channels, universities, to venture capital.
  • Improving access to entrepreneurial finance and market access for small businesses to ensure there is a level playing field for opportunities.
  • Long-term investments need to be made in developing entrepreneurial capital, which is a function of individuals with a high quotient of human and social capital.  

Small businesses are not simply just smaller versions of big business; instead they are vulnerable as they are small and new and consequently need a supportive environment and a mix of responsive policy interventions.

Read more in BBG Online

The Eskom Development Foundation visited three Port Elizabeth-based small and medium enterprises at the end of March, to see how the businesses have been performing since participating in the 2017 Eskom Business Investment competition (BIC).

Ductile Plastics and Extruders, LBN Hygiene Solutions and Lungisupreme Brands SA all featured and were finalists in the competition.

Read more in News24

The new EU programme 'Employment Promotion through small, micro and medium enterprises Support Programme for South Africa', worth €52 million, will help to boost job creation in South Africa by supporting the country's National Development Plan 2030, which foresees that 90% of new jobs in the country should come from small and emerging business by 2030. Implemented by the South African Department for Small Business Development, the new programme will help reduce the cost of doing business for small enterprises, improve business, production and marketing skills, increase access to funding by de-risking enterprise development lending and keeping the interest rate at reasonable levels.

Read more in the European Commission Press Release

As part of Eskom’s corporate social investment programme, the Eskom Development Foundation, through the BIC, is

encouraging and rewarding entrepreneurship by providing a platform for small and medium enterprises (SMEs) to conquer the next major barrier in business development.

The BIC is an annual entrepreneurship competition by Eskom. Black-owned small and medium enterprises in the agriculture and agro processing, construction and engineering, manufacturing and trade and services sectors that have been in operation for at least 24 months are granted entry into the competition.

Read more in IOL Business Report

FIFTEEN small businesses, drawn from across the Nelson Mandela Metro, recently graduated from a six-month Eastern Cape Development Corporation (ECDC)/Nelson Mandela Bay Business Chamber (NMBBC) enterprise development programme which has attracted R1,052 million in funding from the ECDC in the last four phases.

Besides receiving a certificate during the graduation ceremony, graduates will receive a year’s free membership of the Nelson Mandela Bay Business Chamber.

Read more in News24

The latest matric pass rate for 2017 is around 75%, meaning that at least a quarter of all leaners who wrote their matric exams in December 2017 cannot be admitted to further their studies at any of the mainstream further education institutions, that is, TVETs, Colleges, Universities of Technology and universities. That is despite the fact that these institutions can only admit a limited number of students for formal academic programmes due to limited capacity and resources. Thus, further painting a gloomy picture regarding the future of young people in the country. Entrepreneurship and leadership are some of the key areas that our country needs to focus a lot more on. A career in entrepreneurship should not be seen as a career of last resort when everything else has failed.

Read more in News24