Empowering youth to turn into successful entrepreneurs delivers a multiplier impact, with sustainable SMMEs creating jobs for other unemployed youth. This in turn also contributes to Setas with their levies, enabling additional support of small businesses.
CEO Yershen Pillay
CHIETA’s expertise underpins the robust premise that entrepreneurship is undeniably one of many key means at our disposal to dramatically increase job creation amongst our nation’s youth. With our rampant unemployment numbers, notably amongst younger people, which Stats SA placed at sixty six.5% earlier this 12 months, and which was reported as the best in the world by tradingeconomics.com in December 2021, the necessity to tackle this actuality is urgent.
We know that there is not a silver bullet to address this disaster, but we additionally recognise that complete expertise growth for younger would-be entrepreneurs must be a vital part of the country’s efforts to create jobs for youth.
เพรสเชอร์เกจ4นิ้ว (Organisation for Economic Cooperation and Development), which represents 38 countries including South Africa, published an article in late last 12 months which highlighted the worldwide disconnect between young people’s aspirations to be entrepreneurs and the fact.
The article acknowledged, “Young people present a high level of interest in entrepreneurship. Overall, about 45% of younger people report that they would favor to work as an entrepreneur somewhat than an worker, and 41% suppose it would be feasible.
“However, few young persons are actively working on start-ups or managing companies. Only about 8% of individuals aged 18 to 30 years in OECD countries had been doing so between 2016 and 2020. The hole is sort of a drop-off from the proportion who indicate a desire to be an entrepreneur, suggesting that there’s substantial untapped entrepreneurial potential amongst youth.”
This is exactly the state of affairs that is driving CHIETA’s Vision 2025, which aims to assist 2 000 SMMEs and 200 start-ups by 2025 with wide-ranging skills growth and monetary investment. By the top of this yr, CHIETA will be a few third of the method in which to reaching this goal. In 2021 we supported one hundred twenty five entrepreneurs and by the top of this 12 months we might be equipping an extra 500 for profitable small enterprise development.
This multipronged strategy is producing job creators quite than job seekers, and we are working with higher education establishments and other companions to make sure the entrepreneurs-in-the-making will be enabled by way of wide-ranging skills development, financial support, and entry to market linkages.
CHIETA has an allotted price range of R20 million for small enterprise help inside the chemical industries sector in our 2022-2023 financial 12 months. This will help in delivering coaching in entrepreneurial skills, incubation programmes, learnerships, bursaries, grownup education and training, and other initiatives that contribute overall to small business progress, all of which will be carefully monitored and evaluated throughout the length of the programmes to ensure success and sustainability.
This is going some way towards offsetting the robust non-entrepreneurial culture in South Africa and instead instilling an entrepreneurial mindset throughout the ranks of our youth and, working with large-scale enterprises, throughout the supply chain.
Clearly though, CHIETA’s mandate is restricted to the chemical industries sector. It behoves organisations and industries all through the nation to recognise the impactful benefits of entrepreneurial and SMME development to the nation. These advantages embody job creation, a lift in productivity and healthy competition as small businesses often enter markets with decrease costs, new market development, an increase in nationwide revenue, and the introduction of new and revolutionary merchandise, services, and technologies.
As we move into Youth Month, we can choose to celebrate it with an unequivocal dedication to building a strong cohort of young entrepreneurs and SMMES in South Africa, for the nice of the economic and social growth of South Africa.
“The youth must be enabled to become job turbines from job seekers.” APJ Abdul Kalam
For more details about CHIETA, visit www.chieta.org.za

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