Essay on Low Entrepreneurship in South Africa

Essay on Low Entrepreneurship in South Africa

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Entrepreneurship is as vital as blood to the sustainability of any body of people that make up a nation. The trends in this nation go from alarmingly large gaps between the rich and the poor (57.8% highest in the world) to the highest unemployment rates in sub-Saharan Africa which translate into a need for about 5 to 6 million jobs. Defined as “the act of initiating, creating, building an entrepreneurial team, and gathering the necessary resources to exploit an opportunity in the marketplace for long-term wealth and capital gain” (Van Aardt, 2011), entrepreneurship, amongst other things, is the only way that the before mentioned gap can be eradicated increasing the competitiveness of our nation amongst the best.
OUR HISTORY: BLACK GOLD AND DIAMONDS
South Africa wasn’t always in this place. During the nineteenth and twentieth centuries, we once fostered a flourishing group of black entrepreneurs who provided a majority of the consumed food to miners working in the Kimberly diamond mines. They saw the need and capitalized. Independent black carters carted the mine equipment and supplies to the diggings overland from either Cape Town or Durban by ox wagon before the rail was established and once gold mining expanded in different areas of South Africa, black-communities ran large-scale industrial style laundry trade - amongst other things - within the mining community only for the economic position of successful black farmers contained by the so-called “black spots” to be broken by racial segregation, the 1913 Land Act and Apartheid. This destroyed the same early class of black entrepreneurs that South Africa is now fighting to regain, and it has not been easy.
“IT’S MY CULTURE”: CREATING INNOVATERS, NOT IMITATORS
It was Malcolm...


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...ed 11 March 2014].
School, H. B., 2013. Entrepreneurship Key For Jobless Youth: Media Club SA. [Online]
Available at: http://www.henleysa.ac.za/henley-in-the-news/entrepreneurship-key-for-jobless-youth-media-club-sa-21-may-2013.html
[Accessed 03 March 2014].
Spector, J. B., 2014. ANALYSIS: TO GET AHEAD, SOUTH AFRICAN ECONOMY NEEDS ENTREPRENEURIAL SPIRIT. [Online]
Available at: http://www.dailymaverick.co.za/article/2014-02-03-analysis-to-get-ahead-south-african-economy-needs-entrepreneurial-spirit/
[Accessed 11 March 2014].
Timm, S., 2013. Global Entrepreneurship Report Puts SA Below Average. [Online]
Available at: http://mg.co.za/article/2013-04-26-00-report-puts-sa-below-average
[Accessed 3 March 2014].
Van Aardt, H. B. B. J. V. R. N. V. A. V. D. B. V., 2011. Entrepreneurship & New Venture Management. Cape Town: Oxford University Press South Africa.

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