I have a burning issue I would like our knowledgeable forum members to comment on urgently.
What should government do to grow entrepreneurship in South Africa, and this is a matter of urgency for our country?
Why is it a matter of urgency?
- An estimated 80% of young people up to age 24 will NOT have a job next year!
- South Africa, out of 183 countries, ranks #34 in terms of "ease of doing business" but #75 in terms of starting a new business. SOURCE
- South Africa's unemployment rate is published at 25.3%, ranking SA at number 173 out of 199 countries in the world, the reality is however that this "percentage" doesn't reflect the real situation. This figure excludes discouraged job seekers! (Source)
- If the facts are presented correctly. Out of an estimated 32million people falling in the age group of 15-64 only 13 million are employed! READ MORE
This leaves us at the question, what needs to happen? In my opinion the only thing we can do is create a culture of entrepreneurship in South Africa, to address economic growth and unemployment.
As most of you know, starting a business in South Africa is a difficult prospect. Taxes hitting your cash flow, labour laws increasing risk and many more reasons.
So back to my question. What could government do to boost entrepreneurship in South Africa?