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Every Friday must be Small Business Friday!

By Mzukona Mantshontsho

We live in a country where the latest unemployment statistics from Statistics South Africa suggest that the unemployment rate is at a staggering 32.9% South Africans.

This figure was reduced by the increase in informal businesses in our communities. With two thirds of the population in South Africa being the youth, the youth is mostly affected by unemployment.

Youth unemployment has been high for many years in South Africa and is one of the country’s major socio-economic challenges. Cross-country comparisons regularly affirm that South Africa’s unemployment rates are among the highest in the world. Unemployed youth are characterised by their lack of employability resulting from a range of socio-economic factors.

They often have low levels of education, have dropped out of school and invariably do not have the literacy, numeracy and communication skills needed in the labour market. They also have little work experience, which is a particularly undesirable characteristic for employers.

These young people lack strong networks or social capital that allow them to source job opportunities, and tend not to have sufficient financial resources to enable mobility to areas where there is demand for labour.

Of those who do have resources available as a result of their family support or network, they often have unrealistically high reservation wages, thereby resulting in relatively long periods of unsuccessful searching. These socio-economic factors have resulted in a gap between productivity and entry-level wages for young workers, which is a constraint on job creation.

The National Development Plan of South Africa has a target of creating 11 million jobs by 2030. The government is hoping that these 11 million jobs will be as a result of the promotion and fostering of a culture of entrepreneurship in young people in our communities.

It is up to all the young people and learners in our schools to find the gaps and projects that will create the 11 million jobs by 2030, when they will be adults. Young people have the task to make our communities be great places to stay, places to prosper in business and as individual law-abiding citizens of our country. Young people have to make The National Development Plan of South Africa happen!

It’s Small Business Friday!

One-day high actions drive to get South Africans to support small businesses.

Why support small businesses?

It’s convenient as they’re in your local community,

They offer that personal touch,

They often offer unique products or services,

You’ll be making a positive impact on the economy,

Your purchase has a positive impact on the business-owner, the employees, their families and the community,

You can help small businesses grow, employ more, reduce unemployment and nurture the country’s entrepreneurial spirit by spreading the word about.

Support Small Businesses IN YOUR COMMUNITY every FRIDAY!