At a time when the job market cannot just absorb thousands of new graduates that tertiary institutions churn out annually, it has been suggested that entrepreneurship is the most sustainable solution thus far. However, findings from a recent study have revealed that the average graduate in South Africa is not prepared to take the plunge into the demanding but rewarding world of business.
According to the 2016 PPS Student Confidence Index, which surveyed over 1500 South African students, South African graduates are least confident in exploring entrepreneurial opportunities (62%), or opening a private practice (62%) upon graduation, when compared to confidence in opportunities available to them in the formal sector (66%).
Motshabi Nomvethe, Technical Marketing Specialist at PPS, who oversaw the survey, states that the results indicate that there is a need for tertiary institutions to actively promote entrepreneurship as an attractive and viable career opportunity among South Africa’s graduate students.
The positive fact that has emerged from the research is that when asked whether students were confident that their degree sufficiently prepared them for their chosen profession, respondents revealed a confidence level of 84% – up from 76% recorded in 2015, she adds. “The majority of students (60%) also indicated that it was more important for them to secure employment than to obtain a post-graduate degree.”
Nomvethe points out that having the most sought-after skills does not mean that one will succeed in running a business in their area of speciality. “It might seem very simple for a young qualified medical or dental practitioner to open a private practice, but, in reality, the practice will not succeed if the young graduate is not equipped with the necessary entrepreneurial skills. It is vital that today’s youth get taught about business management practices as these skills will determine the success of opening up their own business or practice, and they will also create further employment by employing a support team in their venture.”
