Entrepreneurs are now a dying breed

small busines man

At the time the country needs them the most, regrettably, the number of entrepreneurs is dwindling.

Results of the recent ABSA SME index indicate that sluggish economic conditions have adversely impacted on the self-employed over the last two years. “The number of the self-employed people has been in decline for five consecutive quarters. Upheaval in the South African economy is impacting on the natural formation of smaller businesses,” said ABSA Head of Business Banking, Happy Rainala, decoding the figures.

 There was a drop in self-employment by 6.8% over the last year to 1253 000 adults. Noticeably, there was a 2.9% decline between the fourth quarter of 2013 and the first quarter of 2014. Major factors behind this trend were increase in fuel prices and electricity tariffs, Ralinala explained

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