THE sluggish economy that is continuing to create uncertainty around the globeis a worrying factor. The situation has an adverse impact on the lives of the ordinary people, including township entrepreneurs.
Despite this, some local entrepreneurs still show potential greatness by putting efforts in creating innovative initiatives that can turn their lives around. However, without the support from government, private sector, and the community, their hopes are dashed. Therefore, together we mustseek different approaches to address and overcome these adversities.
As a country, we mustprioritise the important issues such as economic growth. We must support and mentor entrepreneurs and encourage them to be industrialists, create their own goods and sell, instead of relying only on imported goods; and also show them the benefits of working in groups or forums. Big companies can also contribute by transferring wealth-creation skills.
President Jacob Zuma focusedhis2016 SONAspeech on the economy; Premier Makhura, during SOPA highlighted on challenges facing entrepreneurs and the revitalisation of township economy. The Gauteng government has committed itself in empowering township entrepreneurs. It is prioritising procurement spend towards township based businesses and has allocated 30% of all its procurement to township SMMEs.
In addition, initiatives such as the Qondis Ishishini Lakho campaign which assists entrepreneurs to register and formalise their businesses in order reap benefits such as access to funding, trade and working with both the private and government sectors, demonstratesits commitment to grow the township economy.
With these in mind, let us not neglect our township entrepreneurs who are striving for a significant economic change. We must be positive of the future, and continue supportingthem in creating a sustainable economy amidstan adverse economic outlook.