entrepreneurship meaning

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South Africa has a diverse range of entrepreneurs, each with their own unique set of skills, goals, and challenges. However, most countries are distinguished by entrepreneurial endeavours that stand out due to their popularity within their respective industries.


Although starting your own business can be risky, but it can also be rewarding if successful. Luckily, there are various initiatives that provide skills training and assistance to South Africa's budding entrepreneurs. 


The youth unemployment rate in South Africa reached its peak in 2021, with more than 60% of the country’s youth aged 15 to 24 being without employment during this period. A seasoned media mogul has continued to promote youth entrepreneurship irrespective of the country being faced with the ripple effects that came with the Covid-19 pandemic.

 


In the fourth quarter of 2021, the rate of unemployment among youth stood at a staggering 66.5%. It is widely believed that entrepreneurship is key to improving the lives of youth.  

 


In the first quarter of 2022, Statistics South Africa (StatsSA) revealed that the unemployment rate increased to 63.9% for people aged 15-24 years old. On the other hand, unemployment stood at 42.1% for the 25-34 age group, prompting government to find ways to combat youth unemployment. 

 


The launch of a brand new skills training centre in Kwa-Mhlanga, Mpumalanga represents a beacon of hope for young people in the province. This could allow them to develop critical skills that could improve their lives.

 


If you know your corporate jargon, you’ve probably heard the term “Price Leadership”. But this article is not about a dominant company that determines the price of a product or service, but more about the “cost” leadership comes at.


The Department of Small Business Development has recently launched the Youth Challenge fund.

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