Entrepreneurship key to progress
A range of key constraints that impede young people from starting a successful business have been identified.
THE Minister of Small Business Development, Lindiwe Zulu, has called upon South African youth to start their own businesses and co-operatives to create employment in their communities.
Speaking at the Management, Business, Administration and Legal Initiatives (MBALI) Conference held in partnership with Absa in Richards Bay last week, Zulu said a range of key constraints that impede young people from starting a successful business have been identified.
‘Entrepreneurial education and start-up capital is crucial for youth entrepreneurship.
‘Shortages in entrepreneurial skills have prevented many potential young entrepreneurs from succeeding in their ventures.’
Dean of the Faculty of Commerce, Administration and Law at the University of Zululand, Prof Dev Tewari, said the MBALI 2016 conference has allowed the faculty to take its rightful place in knowledge production in KZN.
‘We have to use knowledge creation to assist communities with engagement projects that will uplift an entire region.’
Absa Provincial Managing Executive in KZN, Faisal Mkhize, said Absa was pleased to be a key partner of the University of Zululand in this inaugural international conference to tackle development challenges in business.
‘Youth unemployment and lack of economic opportunities for our young people is a major challenge that calls for an integrated approach by all stakeholders.
‘That is why we are supporting this conference.
‘It is fundamentally linked to our Shared Growth strategy which covers education and skills for enterprise development.
‘I urge young graduates to take advantage of what Absa has to offer through the Ready2Work programme. It aims to support job seekers and entrepreneurs who have the aptitude, attitude and ambition to achieve beyond the opportunities that have been given to them.
‘The ultimate goal is to give young people a choice to either develop their employment prospects or to become self-employed by starting their own businesses.
‘The primary focus is to enable the employment and empowerment for the next generation.’
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