PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
ab64
 
Comments: 9
Article views: 692
 
 
Latest Badges:

 
View all ab64's badges.
 

Unemployment and factors of production

12 November 2012, 20:25

Unemployment and the Missing Key Factor of Production

Why does the Government keep promising more jobs for the jobless in South Africa when they know deep in their heart that there will be no improvement of employment in the formal and to a lesser extent in the informal sector until such time they understand and address the 4 factors of production?

Politicians promise that they will create jobs – how? Where will these jobs come from?

The 4 factors of production, Labour, Capital, Natural Resources, and Entrepreneurship are key to the improvement and sustainability of any economy. Although all factors are as important as the other, it must be stressed that entrepreneurship is the vital and most important key to South Africa’s future growth and prosperity.

South Africa is blessed with natural resources and labour, capital is abundant. The only element missing in South Africa is entrepreneurship.

Just try and approach 1 of the big 4 for money to start or expand your own business – impossible.

I have a business which I am trying to expand. I also have 3 employees. The business proposal is thorough, cash flow predictions are conservative, I have a customer base, I am listed as a supplier with 1 of South Africa’s major retail chains but still the banks won’t budge until you have 50% collateral before they extend cash.

How bizarre, so in order to obtain R 500,000 you need to lodge R 250,000 as collateral. Now why would you ask for cash in the first place? I still say that in order to obtain a loan from any bank, you need to give them 20 reasons why you don’t need the loan until they grant you a loan. Please bear in mind that the big 4 annually post inflation beating profits.

Banks are on a self fulfilling mission to tell the public at large that they are there to assist small business – they are not!!

Whilst millions is poured into advertising and sport, banks are missing the point. Why not plough this money into small business.

I approached the DTI for funding, just as frustrating. When I called, the dear lady promised me she would send an email with all the avenues to funding. What a joke? – I received an email with 5 entities which provide funding. It looked like the document was compiled at the last minute and none of them can help anyway.

Now I ask you, how does the small business expand with no access to finance from the formal sector.

Until the South African Government as well as the big banks understand that the only way to grow an economy is through promoting and financing small business thereby creating employment, the jobs problem in this country will only worsen.

Stop promising jobs when you don’t know where they are going to come from for cheap electioneering.

You need to assist small business

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.
 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
9 comments
Add your comment
Comment 0 characters remaining

Read more from our Users

Professor Cees Hamelink- Letter t...

Professor Cees Hamelink from the Netherlands is a breath of fresh air compared to the propaganda media that has taken a grip on the west.  Read more...

5 comments 112 views
Submitted by
ohomen171
Comcast Finally Fixed My Cable Te...

Everyone I now have a new cable television box in the living room. It works! That's the good news. Read more...

0 comments 20 views
Submitted by
Guy Alain Lukoki
God-loving kindness is not yet fi...

Your Creator still has many good surprises for you! You have no right to despair, keep your faith! Do not give the devil a foothold in negative thinking about your future.  Read more...

5 comments 39 views
Submitted by
FrancoisFMarais
Oscar Pistorius Trial - The posit...

As spring dawns on the Southern hemisphere on the 1st of September one can't but help think of the verdict to be delivered on 11 September in the Oscar Pistorius Trial. Read more...

2 comments 282 views
Submitted by
MikeHampton
DA's Press Release Stinks Like Ro...

Ivan Meyer, the DA Western Cape Leader and Oudtshoorn Constituency Head, has condemned the ANC for using taxpayers cash for legal battles in Oudtshoorn. Read more...

1 comments 692 views
Submitted by
Reflect 014
It's all a question of perspectiv...

How we view things affects our perception of the world in which we live. This perspective also helps to shape our understanding of reality itself.  Read more...

11 comments 157 views

Jobs in Cape Town [change area]

Jobs in Western Cape region

Account Manager Specialised Finance

Cape Town CBD
Evrst Business Solutions
Up to R350 000 Per Year

Assistant Production Manager

Cape Town Northern Suburbs
Express Employment Services - Cape Town
R400 000 Per Year

Ecommerce Development Manager

Cape Town Southern Suburbs
Yazoo Recruitment

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

Up to 40% off fashion accessories

Save up to 40% on selected handbags, purses, watches, jewellery and more. Offer valid while stocks last. Shop now!

Save up to R2000 on top electronics

Get every day mind bowing savings on top electronics. Offer valid while stocks last. Shop now!

As seen on TV - New book releases at only R199 each

Get mind blowing book savings on new titles. Offer valid while stocks last. Shop now!

Save up to 50% on Women’s month treats!

Celebrate the awesome women in your life with awesome treats like beauty products, fashion accessories, bestselling books, electronics and more. Offer valid while stocks last. Shop now!

Up to 60% off - clearance sale!

Save up to 60% on appliances, books, electronics, toys, movies and more. Offer valid while stocks last. Shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

 

services

E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on your iPhone Get News24 headlines on your iPhone.

SMS Alerts Get breaking news stories via SMS.

Blogs Your opinion on you, me and everyone.

Calais Website keywords automated by OpenCalais.

 
Interactive Advertising Bureau
 
© 2014 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.