Youth entrepreneurship is the way to a bright future
Opinion
Youth must not only be seen as heroes of the future, but in the present, they must and are taking their rightful place in creating a better South Africa.
Image: Shelley Kjonstad
ONE of the topics remarkably close to my heart is the development of youth. Old wisdom and one of the popular clichés like to refer to the youth as the future.
Right there is the debate that young people must be recognised now, as opposed to the future. This perspective emphasises that young people are already driving current changes, tackling global challenges, and deserve immediate inclusion in decision-making, rather than waiting for tomorrow.
Youth must not only be seen as heroes of the future, but in the present, they must and are taking their rightful place in creating a better South Africa.
According to Statistics South Africa, the country has a 46% unemployment rate amongst youth. The structure of our economy currently cannot absorb the scores of youths into employment.
The situation leaves us with a critical need to develop entrepreneurial skills among youth. The entrepreneurial skills need to be developed fast so that the country does not get into social unrest and other challenges.
A Zulu proverb says, “Indlela ibuzwa kwabaphambili,” which translates to “the way is asked from those who have gone before.” I would like to borrow this proverb and relate it to our youth that they must seek wisdom and guidance from the elders, mentors, or experienced individuals who have gone the path or faced similar challenges.
South Africa has many exemplary entrepreneurs who are driving economic growth through innovation in sectors like fintech, retail and manufacturing. When passing entrepreneurial wisdom to our youth, it is important that they understand that in life, there is no silver bullet.
This is a metaphor indicating that there is no single, easy, or magical solution that exists for a complex problem, requiring instead multiple and persistent approaches. Entrepreneurial training is likely to cover essential life skills like critical thinking, financial literacy, and practical experience.
Key lessons will include identifying the gaps in the market, cash flow, and building professional networks.
Having walked the entrepreneurial path over the years, I would like to pass on some little wisdom - young people must not be afraid to dream. But the dream must be accompanied by disciplined efforts to carry those dreams through.
There are also many support institutions, both by the government and private institutions who are dedicated to nurturing entrepreneurship among youth in South Africa. Borrowing from the Nike company, I would like to say to youth entrepreneurs – Go out and do it!
* Paul Phume is a Johannesburg-based businessman and philanthropist. The views expressed are personal.
** The views expressed here do not reflect those of the Sunday Independent, Independent Media, or IOL.