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South Africa: Entrepreneurship Viable Option for South African Children
Source: www.sanews.gov.za
Source Date: Monday, November 14, 2016
Focus: Institution and HR Management
Country: South Africa
Created: Nov 14, 2016

The Global Entrepreneurship Week, which takes place from 14 – 20 November 2016, is the largest gathering of innovators and entrepreneurs, who launch start-ups that bring ideas to life, drive economic growth and stimulate socio-economic development.

Deputy President Ramaphosa appealed to big business to partner with small business to grow an inclusive economy and give the youth work experience.

“Leaders of established business must mentor more and invest more in young talent. We must work together to urgently introduce those reforms that will foster a more enabling environment for SMME development.

"We must find innovative ways to work and provide the necessary support to young women, in particular, to get involved in sustainable opportunity-driven enterprises,” he said.

Deputy President Ramaphosa said a number of sectors of the economy are dominated by a few big players, costs of entry are high and anti-competitive behaviour is widespread.

He said government recognises that it may unwittingly reinforce this market dominance through bureaucratic inefficiency and costly regulatory requirements.

“However, we have made important progress in strengthening the competition authorities, using government’s purchasing power to promote emerging businesses, and refining the BEE codes of good practice to emphasise enterprise development,” Deputy President Ramphosa said.

Parents urged to teach children the value of money

Minister Zulu encouraged parents to teach their children their value of money from a young age.

She said this could be done by opening a bank account for their kids and encouraging them to save their pocket money.

Minister Zulu called on young entrepreneurs to take advantage of opportunities given to them, produce products which are distinctive and can add value in the economy.

“If you want to grow, you need to break into the African market,” Minister Zulu said. 

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