DEVELOPMENT OF SMALL SCALE PROPERTY ENTREPRENEURS IN SOUTH AFRICA

The political changes in South Africa over the past fifteen years have brought new challenges and opportunities for entrepreneurs.A change in the economy, especially with respect to real estate ownership, is one of the most sensitive issues in South Africa.The study focuses on obtaining a detailed understanding of how the commercial property market is currently operating in South Africa considering the history of the country.The market is analysed relative to the entrepreneurs, the key constraints and disadvantages they face in establishing themselves as fully operative entrepreneurs. The analysis covers the legal aspect, the economic aspect, the socio-cultural aspect and the technical aspect of the market.As a result of the analysis, a partnership model which would include (i) government (ii) the bank and (iii) the property entrepreneur is proposed. The three partners will together or jointly come up with the product that will be utilised by the emerging property entrepreneur. The product will include the tangible component of immovable property such as retail shop buildings, factory buildings and farms.