A study conducted by Seed Academy has found that not only are entrepreneurs battling to navigate the SA business landscape, many still don’t have the basics right.
CEO of Seed Academy, Donna Rachelson says the study has been conducted in order to create an awareness as to what is required in South Africa in terms of entrepreneurship for a thriving ecosystem.
She says the study has given them a good profile of a South African entrepreneur that is primarily male, young and black African. They are educated, have prior work experience and are driven to entrepreneurship through the identification of opportunities.
What we are finding over the years is that our entrepreneurs in South Africa are really struggling. They are working from home, they are funding themselves and they don't know where to find funding. The process is incredibly difficult and they don't know where to go to find the right kind of support.— Donna Rachelson, CEO of Seed Academy
They have huge difficulties in accessing new markets. So we are seeing a sluggish ecosystem that is really struggling. There is a mismatch between government policies and support framework for these entrepreneurs. There may be support for them but it is scattered all over the place, so it is difficult for them to get the support.— Donna Rachelson, CEO of Seed Academy
Rachelson is advocating for the schools to start incorporating entrepreneurship in their curriculum to allow the youth to learn how it works before they venture into it as a career.
If we introduce entrepreneurship at a school level and school kids can start grappling with these concepts and kind of start making their mistakes earlier on they won't only see entrepreneurship as a fantastic career opportunity but they would have acquired valuable skills as well.— Donna Rachelson, CEO of Seed Academy
To hear the rest of the conversation with Donna Rachelson, listen below: