Wanted: more young entrepreneurs
It is a national priority, as articulated in the National Development Plan, to find ways to create jobs and build the economy in a sustainable way. Particular focus is placed on the youth, who bear the brunt of unemployment.
The challenge facing young people, especially those from disadvantaged backgrounds, is that they have limited access to start-up funds.
Typically, new businesses get their start-up capital from personal savings, family and friends and, in some situations, commercial banks. For young people from disadvantaged backgrounds, most of these options just don’t exist. But that doesn’t mean that their business ideas are not worthwhile.
Young people need to tap into available financial packages so that they too become active participants in the national economy and create jobs.
There are opportunities out there for new ideas. Government, through its development financial institutions such as the IDC, has put incentives in place to bolster the productive sectors of the economy, and there are many parts of the productive sectors that only require some ingenuity to get started in. What is required is an entrepreneurial mind and the willingness to work hard.
South Africa needs people to manufacture products more than ever. And for the country to get back on the path to growth, young people need to step up to the plate and start looking beyond an office job for their futures.
Mpangase, IDC spokesperson