Entrepreneurship is key to economic growth and job creation
“I could choose to be either an entrepreneur, or work in a corporate environment, but knowing that I have the opportunity to leave a legacy of companies that people love to work for is probably the most exciting thing about being an entrepreneur.” (Tyler Reed, technology entrepreneur)
According to international research by the Global Entrepreneurship Monitor, Tyler is part of just 6% of the South African population that views entrepreneurship as a potential career path. However, as unemployment continues to rise sharply toward 30% and corporates are no longer able to create new jobs, this ingrained belief that working in the corporate sector is safer than attempting an entrepreneurial venture is proving false.
While business owners admit there are some new opportunities for entrepreneurs, education remains a major hurdle for would-be entrepreneurs. It’s no accident that the country’s best success stories such as Mark Shuttleworth, Adrian Gore, or international rocket science guru Elon Musk, are highly skilled and educated individuals. Orrin Klopper, spokesperson for the Entrepreneur Organisation believes that much focus still needs to be made on entrepreneur education within South Africa. “Entrepreneurial ability without managerial ability would not be sustainable. Management and entrepreneurial skill and experience are the most frequently used selection criteria of venture capitalists. Entrepreneurs who have invested in education are more likely to have a growth strategy and run profitable businesses.”
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