Factors Affecting Young Prospective Entrepreneurs

Given the current, global, economic situation, the status of youth entrepreneurship in South Africa is no different to that of the youth in other countries. It is debatable whether similar support and mechanisms used by other countries can be used without contextualizing them for the South African environment. Cultural differences, level of education, different market standards, and a different socio-political environment are some of the factors that should be taken into consideration, when aiming to create an enabling environment that will open entrepreneurial opportunities. This book highlights that access to financial support is one of the primary obstacles for the setting-up of a new business, since the majority of young people tend to come from disadvantaged backgrounds. In addition, the book pointed to other challenges, including the business registration process, lack of adequate entrepreneurial training and mentoring programmes, the impact of crime in starting a fledgling business and general support from government departments and agencies.