Southtechreviews

  How can we grow young female entrepreneurship in South Africa? By Linda McClure, Raizcorp COO South Africa, like many countries globally, grapples with the challenge of  youth unemployment . This is supported by statistics indicating a 45,5% unemployment rate among young individuals (aged 15-34 years), in contrast to the national average of 32,9% in the first quarter of 2024. It’s clear, though, that the struggle continues for many South African women – specifically in the area of small business and entrepreneurship. According to the World Bank, Africa boasts the highest growth rate of female-run businesses in the world. But down on the southernmost tip of the continent, women are still in the minority when it comes to entrepreneurship. While more than half of South Africa’s population is female, only 38% of SMEs are women owned and led. Despite these benefits and the potential of entrepreneurship to improve the socio-economic empowerment of  women in South Africa, ...

The 2024 edition of the Nedbank Pitch & Polish competition has seen a significant surge in entries with more than 1 430 aspiring entrepreneurs vying for a chance to refine their business ideas and secure invaluable financial and non-financial support. This is almost double the 800 entries received in 2023 and is a trend that highlights the increasing appeal of the initiative and the expanding entrepreneurial ambition across diverse sectors of South Africa's economy.   Nedbank Pitch & Polish  offer s  entrepreneurs a platform to refine and present their business ideas, gain invaluable insights , guidance and mentorship,  and  even  secure investment  - in the form of prize money and marketing funds -  to propel their ventures to new heights. The prize for the winning enterprise is worth R1 million which consists of a R650 cash injection to grow their business and a R350 000 bursary for a 2-year business development programme with Afric...

  By Allon Raiz, Raizcorp CEO   The recent South Africa unemployment rate has increased at a steady rate of 32.9% in the first quarter of 2024. This is according to the Quarterly Labour Force Survey (QLFS)  Statistics South Africa  with an expanded definition 0.8 of a percentage point in the first quarter of the year. The road to becoming an entrepreneur is not all rosy – it may take months, even years to set up a dream project. To ensure more job opportunities and South Africa needs to have more entrepreneurs to have a sharp increase in employment rate. You’ve got to have grit Grit is one of the characteristics entrepreneurs must possess to have a chance at success. You need the ability to stand up again and again and again, no matter how hard you are knocked down. You must also be resilient, trustworthy, resourceful and flexible.   You’ve got to have vision Without a crystal-clear vision, your business is like a rudderless ship that can’t avoid treacherous roc...

The lockdown, interruption of supply chains, and the emergence of a distributed workforce are accentuating the need for innovation and entrepreneurship, with countless technology opportunities emanating from these unusual times. Anton Herbst, CEO of Tarsus on Demand We are facing unprecedented disorder, with COVID-19 highlighting the need for bold, innovative solutions at all levels of society. Due to the fact that entrepreneurs are, at heart, problem solvers, bringing new products or services to the market to meet a need or a gap, we believe this is their time to seize the moment.   We have witnessed the shift from an industrial economy to a digital one, accelerated by rapid changes in technology on the one hand, and the expectations of customers on the other. Innovation has been incremental rather than disruptive. Disruption is rare because our economy has been focused on scalable efficiencies that essentially make a business run a little better every year.   Now, te...

Working in partnership with the dti, Samsung aims to create substantial employment in the e-waste sector   Samsung South Africa is running a search for 2 (two) established black industrials in the e-waste sector, which require financial and business support, to take their business to the next level. The initiative is part of Samsung’s R280-million Equity Equivalent Investment Programme (EEIP). EEIP is a Department of Trade and Industry (dti) initiative where multinational companies are invited to participate and contribute positively towards B-BBEE in South Africa. This programme is strongly aligned with the objectives of the National Development Plan 2030, which is the elimination of poverty through job creation and entrepreneurship.