According to a Gordons Institute for Business Science (GIBS) report on Entrepreneurship in South Africa, our entrepreneurial activity is improving but still lags behind in comparison with other parts of the world.
The GIBS report claims that aspirant and existing entrepreneurs face huge challenges and frustrations in South Africa.
The country’s financial and operating environment is not supportive enough of entrepreneurs, particularly in terms of regulations, policies and access to capital.
CapeTalk and 702 presenter Redi Tlhabi spoke with Dr Jonathan Marks, Head of faculty of Entrepreneurship at GIBS.
Entrepreneurship is a complex phenomena. South African does not perform particularly well in relation to the rest of the globe. If one looks at the Global Entrepreneurship Monitor report, it indicates that we have around 7% of the adult population involved in entrepreneurship at any one time.— Dr Jonathan Marks, Head of faculty of Entrepreneurship at GIBS
According to Marks, entrepreneurship is not yet recognised for the impact, growth, and possibilities it can offer the South African economy, or for the impact it can have on unemployment and other social issues in the country.
@RediTlhabi People are conflating inventiing/innovating & entrepreneurship. There are gazallions of good ideas out there- most fail!— Maggs Naidu (@maggsnaidu) July 30, 2015
@RediTlhabi we need a paradigm shift and encourage the spirit of creating, building & producing instead of being just consumers & jobseekers— TshwaneComBizForum (@OfficialTCBF) July 30, 2015
@RediTlhabi access to finance none issue. People who complain about access to finance are often in the business of buying and not building— kgaugelo moraka (@kgauzi) July 30, 2015
Entrepreneurs don't sell products they create them. Don't confuse being self-employed with being an entrepreneur @RediTlhabi— Ian Whiteley (@theianwhiteley) July 30, 2015
Listen to the full conversation from The Redi Tlhabi show:
This article first appeared on 702 : The state of entrepreneurship in South Africa