SA entrepreneurs ready for business

Cape Town – South African entrepreneurs were in an upbeat mood about their trade and even had the appetite to start a new business, a survey released this week showed.

The Global Entrepreneur Indicator conducted by the Entrepreneurs’ Organisation (EO) highlighted findings from more than 5 500 worldwide entrepreneurs who employ two million people in 40 countries.

South African entrepreneurs and members of EO, who on average employed 51 people in their respective businesses, were surveyed during August.

The top line results highlighted that although more than 30% of the South African entrepreneurs predicted a deteriorating economic environment over the next six months, the general mood was positive and upbeat with seven out of 10 local entrepreneurs mentioned that they had the appetite to start a new business, with the Western Cape entrepreneurs more likely to take the leap.  

This compared favourably to global entrepreneurs where more than 80% would consider a new business albeit in more positive economic conditions.

'Entrepreneurs willing to take risk'

EO’s Mike Stopforth, who’s SA members employed about 1 200 employees with R2.4bn in combined sales, said the latest results were indicative of the positive nature of entrepreneurs as well as their commitment to job creation.

“EO represents established, medium-size entrepreneurial businesses, which is a key driver of job creation in South Africa,” he said.

“Although 60% of our members believe their access to capital will stay the same, they are willing to grow their existing businesses and invest in new ones - underscoring the notion that entrepreneurs are willing to take risk, innovate and grow their ventures,” he said.

“Entrepreneurship is alive and well in both Gauteng and the Western Cape.”

Key findings:



- Fin24

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