Innovation and the knack for risk-taking are critical to the success of small, micro and medium enterprises (SMEs), Small Business Minister Lindiwe Zulu, said, when inaugurating the Global Entrepreneurship, on Monday.
In her address, Zulu told the audience that evidence had indicated that lack of entrepreneurial knowledge and skills such as innovation and risk taking were behind the high rate of business failure. “These should not be overlooked as essential ingredients to the success of SMMEs,” she stated.
Acknowledging that low levels of education and training, as well as poor business skills were contributing factors to business failure, Zulu said her Department had embarked on a journey to develop entrepreneurs.
“Together with Technical Vocational Education and Training (TVET) Colleges, we are launching Centres of Entrepreneurship across all our provinces,” she revealed.
Thus far, in 2015, the Department has launched centres in False Bay College (Western Cape) and Gert Sibande College (Mpumalanga) focusing on the hospitality sector, while Centres of Entrepreneurship have been planned for the North West and KwaZulu-Natal.
I think Ms Lindiwe Zulu should also blame the lack of entrepreneurship on some Municipalities who owns huge amount of unused land. Our government is also very soft on big businesses who should play a role in the empowerment of small businesses owned by those who were previously disadvantaged by apartheid.
Unfair competition and the attitudes of some banks on black owned businesses.