ENTREPRENEURIAL SKILLS DEVELOPMENT MUST DRIVE JOB CREATION FOR SA YOUTH

Empowering youth to become successful entrepreneurs delivers a multiplier impact, with sustainable SMMEs creating jobs for other unemployed youth. This in flip also contributes to Setas with their levies, enabling further assist of small businesses.
CEO Yershen Pillay
CHIETA’s experience underpins the strong premise that entrepreneurship is undeniably one of many key means at our disposal to dramatically increase job creation among our nation’s youth. With our rampant unemployment numbers, significantly amongst younger folks, which Stats SA positioned at 66.5% earlier this year, and which was reported as the best in the world by tradingeconomics.com in December 2021, the necessity to address this reality is pressing.
We know that there is not a silver bullet to address this crisis, however we additionally recognise that complete skills growth for young would-be entrepreneurs have to be an essential a part of the country’s efforts to create jobs for youth.
The OECD (Organisation for Economic Cooperation and Development), which represents 38 countries including South Africa, revealed an article in late final 12 months which highlighted the global disconnect between young people’s aspirations to be entrepreneurs and the fact.
The article stated, “Young folks show a high level of curiosity in entrepreneurship. Overall, about 45% of young individuals report that they would like to work as an entrepreneur somewhat than an worker, and 41% think it will be feasible.
“However, few young people are actively engaged on start-ups or managing companies. Only about 8% of individuals aged 18 to 30 years in OECD nations had been doing so between 2016 and 2020. The hole is kind of a drop-off from the proportion who indicate a want to be an entrepreneur, suggesting that there’s substantial untapped entrepreneurial potential amongst youth.”
This is strictly the state of affairs that’s driving CHIETA’s Vision 2025, which aims to assist 2 000 SMMEs and 200 start-ups by 2025 with wide-ranging skills improvement and monetary funding. By the tip of this yr, CHIETA might be about a third of the means in which to achieving this objective. In 2021 we supported one hundred twenty five entrepreneurs and by the top of this year we might be equipping an additional 500 for successful small business growth.
This multipronged strategy is producing job creators rather than job seekers, and we are working with larger schooling institutions and different companions to ensure the entrepreneurs-in-the-making shall be enabled through wide-ranging skills improvement, monetary help, and entry to market linkages.
CHIETA has an allotted price range of R20 million for small business support throughout the chemical industries sector in our 2022-2023 financial 12 months. This will help in delivering training in entrepreneurial expertise, incubation programmes, learnerships, bursaries, adult education and training, and other initiatives that contribute overall to small enterprise progress, all of which shall be fastidiously monitored and evaluated throughout the length of the programmes to ensure success and sustainability.
This is going some way in direction of offsetting the sturdy non-entrepreneurial tradition in South Africa and as an alternative instilling an entrepreneurial mindset within the ranks of our youth and, working with large-scale enterprises, all through the availability chain.
Clearly though, CHIETA’s mandate is restricted to the chemical industries sector. It behoves organisations and industries all through the country to recognise the impactful advantages of entrepreneurial and SMME growth to the nation. These benefits embrace job creation, a lift in productiveness and healthy competitors as small businesses often enter markets with lower prices, new market development, a rise in nationwide income, and the introduction of new and revolutionary products, providers, and technologies.
As we transfer into Youth Month, we can select to celebrate it with an unequivocal dedication to constructing a strong cohort of young entrepreneurs and SMMES in South Africa, for the good of the economic and social growth of South Africa.
“The youth must be enabled to turn into job turbines from job seekers.” Incredibly
For extra information about CHIETA, visit www.chieta.org.za
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