-
Essay / Challenges of Entrepreneurship - 861
"Entrepreneurship is the form of creating and building something of value from nothing, in the midst of uncertainty and risk, and having the determination to succeed against all odds (B Eramus, J Strydom, S Kloppers ,42 The state of entrepreneurship in South Africa is considered to be below what is needed to support a consistently high level of economic growth, as its economy). has declined in recent decades. It must reach at least 6% of GDP growth rate with the contribution of entrepreneurs, because they are responsible for growth and job creation to stimulate the economy, but they do not. cannot do so while they still face major obstacles and challenges “A number of studies reveal a lack of management Skills and training are one of the most common causes of failure. general business among SMEs in South Africa. In a survey conducted by Radipere and van Scheers (2005:409), it was found that 90% of a sample of 1,000 entrepreneurs "believe that small businesses fail due to a lack of management skills" ( Tracking SMME Development in South Africa: Issues of Finance, Training and the Regulatory Environment,71) State and discuss the main challengesThe challenges facing entrepreneurs in South Africa are numerous. For example, regarding labor laws and the lack of entrepreneurs involved in small businesses to create jobs, "statistics reveal that the more flexible the labor market, the lower the entrepreneurs and the unemployment rate » (B Eramus, J Strydom, S Kloppers,44). Another challenge is low levels of education and training for people to gain entrepreneurial skills and experience, social factors that do not encourage entrepreneurship as a career choice, lack of access middle of paper.... ...simply encouraging entrepreneurship through greater development of specialized economic zones, providing tax breaks to businesses below certain income thresholds and lowering barriers to entry in certain industries” (“South African entrepreneurs need a pik It up, 19”). South Africa is still a developing country. country, but that it can do much better if it is part of an entrepreneurial economic construction, people must be informed and engaged in change. New entrepreneurs starting their business need to be aware of new solutions and work together to implement them. They can also learn from countries like the United States and England for example; to get an idea of how to go further and avoid failure. Their mindset must now focus on a different form; all of these challenges can and will be overcome. We have come a long way and we must continue our efforts to succeed.