According to the forthcoming City of Cape Town Economic Performance Indicators for Cape Town report, the strict unemployment rate for individuals aged between 15 to 24 years is estimated at 44,7% for the first quarter of 2019. This figure has marginally increased from 44,4% in the previous quarter. Youth entrepreneurship is a large part of the solution to reduce youth unemployment.
Youth unemployment continues to be problematic and current statistics paint a grim picture. However, young people need not despair as opportunities abound for them to enter the world of entrepreneurship.
I was joined by the chairperson of the City’s Economic Opportunities and Asset Management Portfolio Committee, Councillor Anda Ntsodo on my recent visit to a Harambee, a youth employment accelerator that focuses on addressing the high unemployment rate in South Africa.
Harambee sources candidates from a large pool of young people with high potential but limited work experience. It assists them to become work-ready and then connects them to the correct employer in their area. To date, the organisation has placed over 500 000 young people with more than 450 of South Africa’s top companies such as Hollard, Standard Bank, Nando’s, Pick n Pay and Burger King. Those interested in joining the network can visit harambee.mobi and follow the steps provided.
My advice to young people is to consider entrepreneurship as a career. This is means to tackle the challenges of unemployment instead of looking for a job in a market that offers very limited opportunities and that face extreme economic pressures.
By choosing to be entrepreneurs our youth will not only create jobs for themselves but may even be able to create jobs for others and in this way reduce the rising level of unemployment. All it takes to get started as an entrepreneur is the right attitude, drive, energy, creativity and perseverance. Additionally, I would like to personally encourage private companies and potential employers to get involved by hosting unemployed individuals for workplace experience opportunities. Government alone cannot create job opportunities. While we do as much as we can, we need the private sector as partners in this journey to eradicate youth unemployment. Whether it’s a fresh business idea or information needed for something specific to further develop a business, help is at hand in the form of the following resources to assist with either research for their ideas, or to get their business up and running:
Make use of the City’s SmartCape facility, which provides free internet access in public libraries. This will enable them to conduct research and use online resources to develop their business ideas. Organisations such as the National Youth Development Agency (NYDA) and the Small Enterprise Development Agency (Seda) are available to assist.
Consider studying business management at a local college for Technical and Vocational Education and Training, such as the College of Cape Town, False Bay College or Northlink College, for which full bursaries are available.
Visit the NYDA office at Shop P18A, Golden Acre, 9 Adderley Street, Cape Town or contact them on 021 415 2040.
Consider applying for Cape Town-based development programmes such as the Raymond Ackerman Academy, the Rainbow Academy or the Tsiba Academy.
It is also possible to become a leading African entrepreneur by joining one of the African Leadership Academy’s programmes aimed at youth leaders and entrepreneurs from 15 to 22 years old.
Join the Entrepreneur Bootcamp and take part in a collection of nine free courses for entrepreneurs that are offered by South Africa’s leading entrepreneurs.
The Stellenbosch University Business School runs the Small Business Academy that offers an intensive nine-month course that is targeted at small business owners from low-income communities in the greater Cape Town area.
Source: City Of Cape Town