South Africa’s unemployment rate was 25.5 percent in the third quarter of 2015, a slight increase on the second quarter figures. And with the impending jobs cuts in the mining sector, and the knock on effects of this, the figure is likely to get worse. But what good is a statistic without the cold hard fact, currently the conservative figure shows 5.4 million people are unemployed.
But what’s the solution? A recent article on Biznews looked at the benefit of small business in Germany, which showed that 80.4 percent of the country’s economic output is from companies employing ten or less people. Entrepreneur Andrew Fenwick recalls a personal experience where his 10-year-old daughter’s school encouraged children to supply items to a local market.
He said it is initiatives like this that help stimulate jobs and growth, as the answer doesn’t lie with Big Business. He also supports the calls for an Economic Codesa, saying collaborate thinking may open the door to more solutions. – Stuart Lowman