August 1, 2016 IBOMLLC Team

Yes! There’s a lot of Entrepreneurship Spirit in SA, but it’s Not leading to much Job Creation

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

Seed Academy, a for-profit social enterprise organization, did a research in South Africa (SA) to determine the relationship between entrepreneurship and job creation in the country. The tabled results established that although there is high entrepreneurial spirit across the country, they are not leading to job creations to the levels urgently needed by SA.

No Job Creation in the midst of High Entrepreneurial Spirit

The survey found out that while 50% of entrepreneurs ventured into business for the right reasons, only about 4% of such businesses employ more than 10 staff. Even more alarming, is the fact that up to 38% of such startup entrepreneurs do not employ any staff at all in their businesses.

Donna Rachelson, the CEO of Seed Academy complained, “Job creation should be a key outcome of entrepreneurial activity. Yet a large proportion of our entrepreneurs have no employees.”

Though little traction for Startups, Businesses Survival Rates are increasing

The survey also revealed that majority of the startup businesses are taking a long time to register some traction. There some businesses that have been in operation for half a decade with little to no sales.

However, …read more

Read more here:: Yes! There’s a lot of Entrepreneurship Spirit in SA, but it’s Not leading to much Job Creation

      

IBOM LLC

We're passionate about your business and we only offer the best solutions.