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
A group of women from Soweto, Tembisa and Mamelodi graduated from the Gauteng Township Retail Enterprise Development programme, which aims to empower female entrepreneurs involved within the township retail industry.
Read more in Bizcommunity
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