The Local Entrepreneur
Brian Joffe, Adrian Gore, Herman Mashaba and the FirstRand founders are rare exceptions in an environment where running your own business translates into substantial personal wealth. It happens, but it’s rare.
It may be exciting and invigorating to design your own future but even the most outspoken protagonists of entrepreneurship acknowledge it’s considerably harder than simply drawing a monthly pay cheque.
“Entrepreneurs spend an inordinate amount of time on red tape,” says Pavlo Phitidis, co-founder of Aurik Business Incubator. “They have very few resources compared to those in the corporate environment and as a result the burden is significant.”
Entrepreneurs are also staking their own money on the future. It’s one thing applying shareholder capital – it hurts a lot more when it is your own.
It’s also diff icult to draw the appropriate level of skills to an early-stage business, which is yet to sign up the favourable terms with the medical aid or get the most optimally structured pension plan in place – if at all. And without deep corporate pockets – competing even on basic salary is difficult.
Then there is the admin: “VAT certif icates, refunds, company registrations, WC certif icates of good standing all place huge strain and cashf low burden on entrepreneurs,” says Phitidis, who wants to see the shackles removed from individuals who want to create jobs in an environment that so desperately