We as South Africans – especially the youth – can no longer rely on someone else for financial and career security. We should try to train as many young minds to become entrepreneurs so they can create jobs. We look at six things to include when teaching your kids about entrepreneurship.
If someone put a gun to your head* and asked, “What makes you happy?” would you be able to answer? According to today’s TED Talk, most people won’t be able to articulate what they want in order to be happy. What does that mean for developing a business, making customers happy or making a new product?
Through the years entrepreneurs have come to rely on business plans to plot a trajectory for their small businesses. However, with more and more companies offering business plans on behalf of entrepreneurs, a new approach is needed to ensure that the entrepreneur is ready for the arduous journey to success.
Africa has the biggest youth population globally, but a comparatively small number of young Africans embrace entrepreneurship. Although many young people feel positive about the concept of starting a business, a fear of financial failure is standing in the way of more innovation, according to Amway South Africa’s Raj Parshotam.
A common issue raised among local entrepreneurs is the ease of access to business finance, which is often criticised due to the difficulties experienced when attempting to secure funding to either establish, or grow, a business. The reality is that there is money available for entrepreneurs with the right idea.