Investigating Three Factors of Influence on Sustainable Job Creation in the Small Business Sector in South Africa

Suzanne Kieviet ()
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Suzanne Kieviet: University of Stellenbosch

No 801125, Proceedings of International Academic Conferences from International Institute of Social and Economic Sciences

Abstract: The National Development Plan, as issued by the National Planning Commission Department of The Presidency, South Africa, stated in their Vision for 2030 that South Africa needs to raise the levels of employment in order to eliminate poverty and reduce inequality. The objective of this article is to investigate three factors of influence on sustainable job creation in the small business sector in South Africa. These factors are: the economic environment; entrepreneurship education and access to finance in the small business sector.The study found that a culture less dependent on government hand-outs needs to be created by providing incentives for work. The economic environment will be further improved if public policy supports entrepreneurial activity. This could be achieved when barriers to enter the market are lowered, regulatory red tape reduced and an entrepreneurial environment for business development be provided. Furthermore, it is recommended that the tax regulatory environment should be made friendlier for the small business sector.It is also found that students need to develop the applicable practical skills, entrepreneurial attributes and behaviour in order to prevent venture failure. These skills could be developed when the content of courses and the process of learning are changed. Lastly, South Africa?s highly-developed financial infrastructure and well-developed mobile technology could be used to increase access to financial services. It is also found that available government support should be rigorously marketed to the public, via road shows, radio talk shows and agents who disseminate information and create awareness.

Keywords: economic environment; entrepreneurship education; access to finance. (search for similar items in EconPapers)
Pages: 1 page
Date: 2014-10
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Published in Proceedings of the Proceedings of the 13th International Academic Conference, Antibes, Oct 2014, pages 195-195

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