Entrepreneurship in South Africa

The purpose of this study is to contribute to the promotion and development of entrepreneurship in South Africa. The objective was to develop and test a model which could be used in the development and training of entrepreneurs. Officially, 27.7% of South Africans are unemployed. This is especially important in that, the South African economy is battling to recover from the world economic crisis of 2009/10, putting pressure on government to alleviate growing unemployment and curtail social unrest. The study comprised of a literature review as to how globally entrepreneurs are developed, culminating in the perceived success factors for entrepreneurship. These factors were then tested on small business owners operating in South Africa. The authors argue that, in order to successfully develop entrepreneurs: 1) 99% of entrepreneurs will need to have the required socio-emotional skills; 2) 99% of entrepreneurs will require mentorship; and 3) 95% of entrepreneurs will require access to start-up capital.