Township economy at the centre of local economic development
There are four areas in which township youth
entrepreneurs can exhibit high potential for business success.
• Youth can translate their ‘hobbies’ into enterprise activities.
• Youth can be absorbed and brought up into family businesses.
• Youth with jobs can establish micro-enterprises as a safety-net or investment strategy.
• Youth with professions and money can set up a fund and become private funders and venture capitalist who in turn mentor and finance others.
Most township enterprises are small or micro and widely dispersed across the province and across all sectors of the township economy. They often feel isolated and believe that their voice is not heard in the development of policy.
One of the objectives for this book is to help start and facilitate conversations at ground level with these entrepreneurs and work towards building a stronger focus on the township economy and better organization and representation. Such support will include mentoring and funding for cooperatives and business entities.
We must support these entrepreneurs by:
Becoming a voice of township enterprises;
Developing capacity and raising quality within the township economy;
Developing entrepreneurial projects and initiatives; and
Developing a legal and financial framework that will encourage the growth and development of township enterprises.