Open letter to minister of Small Business Development: The other things frustrating entrepreneurship growth in South Africa
Good day minister Zulu. First congratulations on your appointment on the new department.
This article has been in the writing even before it became known that the Department of Small Business Development would be. I’ve been chasing perfection with it, but I guess like entrepreneurship is about operating in ever ideal-less situations – it will never be perfect.
I hope there are many entrepreneurship activists like myself who are publicly raising their suggestions for SMME growth in South African, to the department. I believe more ideas, especially from different people give depth to solutions.
Below I list a few things which I believe frustrate entrepreneurship growth and acceleration, in South Africa. I have also included some ideas on how entrepreneurship can be fast tracked to strengthen and enlarge South African owned economic activity – which in the popular sense is economic prosperity for all.
And in no way am I implying solutions vest majorly on government.
As South Africa’s GDP is the largest in Africa (actually now it is second to Nigeria), but with more unemployment than some countries with a lesser GDP and more people, who then is enjoying a bigger chunk of the GDP?
Through analyzing our exports versus imports, we can tell that foreign investors are enjoying our GDP through mostly: consumables (phones, clothing, cosmetic, soft products) and other innovations.
If the import gap (through work of course) is lessened a bit to the favour of local goods, this is simple better life most South Africans.
More focus needed on products’ based businesses over administrative ones
The growth of a country’s banks depends on the growth in the amount of monies they handle. For more money to be handled, the GDP has to grow. Or a case of more people, who didn’t have money before, now does. Or they managed to attract internationals to bank with them.
A banking industry’s growth is
I can’t recall how many times but I did propose to buy coffee to people I wanted mentorship from.
A mentor is someone more prominent than me, right? How the hell do I suppose I will attract Brian Joffe to meet me all because I offered to buy him coffee.
He can afford way more than his own coffee and can only drink so much. I am sure he has coffee invites from Zimbabwe to Zanzibar.
Had inviting people out for coffee been that intriguing, I would have invited Azania many times. How I wish.
A mentor is important in that they can save you from making stupid mistakes and lo
The fridge was empty. I swore to myself that the following day I would hustle like I never did before. I don’t know why but the implication of an empty fridge hurts more than not eating the actual food. This can’t be 3rd world problems, can it? Things got better as they always do. Months later I was back in a similar situation of having a horribly empty refrigerator. My life has had a rollercoaster of these episodes.
I must do some shit to rid my life of such low points forever. Points which make none believers not understand why folks like me sacrifice to push what is called a “dream”.
On the other hand, like the rest of society, I don’t like to keep it real. It is like I paint a champagne life with a cheap BIC pen.
You know what kind of society we are?
How new businesses can find a penetrative advantage inspite of limited resources: What business plans don’t teach
The other day I was consulting a lady who wants to start a sort of high end clothing label for preteens, but as everyone – she doesn’t have funds and is demoralized at the thought that it might be tough to get funding for her awesome business idea.
The reality is money isn’t cheap. It is only smart for investors to backup projects which have some traction or leverage: Either the venture has produced some directional progress or the entrepreneur has some entrepreneurial experience.
No one is forced to finance anyone. I often