With South Africa’s high level on unemployment, South Africa’s Youth is encouraged to become Entrepreneurs. It is stated that to be successful one must work for oneself. Your Matric Certificate will not guarantee obtaining employment. Many South African Youth turn to crime when there is no other alternative to earn a living.
The 2015 Global Entrepreneurship Monitor Report indicated that only 9.2% of the Adults that they surveyed indicated that they intended to start a business in the next 3 years.
Mark Shuttleworth is an example of a South African Youth that became a successful Entrepreneur. He created a sustainable business that has stood the test of time.
However, there are many barriers that the South African Youth must overcome before they can in fact become Entrepreneurs.
The South African Youth might have innovative ideas and passion but how do they turn their ideas into reality. The barriers that they must face daily will be discussed further.
In the world that we live in today, nothing is for free. There must be some kind of exchange for what you received. Funding is one of the biggest obstacles standing in the way of the South African Youth. Without access to funding many of the Youth cannot get their businesses off the ground.
What is further worrying is the Youth does not know how to effectively plan to ensure that their business will have long term success. They do not know how to implement their strategies, they do not know what the operational requirements for their business will be, they do not know how to ensure that their business will be sustainable and furthermore they do not know how to scale their business to ensure that it grows and expands. This would be quite worrisome for an Investor looking to invest in new innovative business ideas.
The reality is that there are many funding opportunities available for the South African Youth. They should be guided as how to develop their ideas and passions into viable business plans that will entice Investors to part with their money.