Empowering youth to turn out to be successful entrepreneurs delivers a multiplier effect, with sustainable SMMEs creating jobs for other unemployed youth. This in turn also contributes to Setas with their levies, enabling further assist of small companies.
CEO Yershen Pillay
CHIETA’s expertise underpins the robust premise that entrepreneurship is undeniably one of many key means at our disposal to dramatically improve job creation among our nation’s youth. With our rampant unemployment numbers, particularly among young folks, which Stats SA positioned at 66.5% earlier this yr, and which was reported as the best on the planet by tradingeconomics.com in December 2021, the necessity to tackle this reality is pressing.
We know that there is not a silver bullet to deal with this crisis, however we also recognise that complete abilities improvement for younger would-be entrepreneurs must be an essential part of the country’s efforts to create jobs for youth.
The OECD (Organisation for Economic Cooperation and Development), which represents 38 nations together with South Africa, published an article in late last 12 months which highlighted the global disconnect between younger people’s aspirations to be entrepreneurs and the truth.
The article said, “Young folks present a high degree of interest in entrepreneurship. Overall, about 45% of younger folks report that they would prefer to work as an entrepreneur somewhat than an employee, and 41% think it might be feasible.
“However, few young persons are actively engaged on start-ups or managing companies. Only about 8% of individuals aged 18 to 30 years in OECD countries were doing so between 2016 and 2020. The gap is sort of a drop-off from the proportion who point out a need to be an entrepreneur, suggesting that there is substantial untapped entrepreneurial potential amongst youth.”
This is exactly the scenario that is driving CHIETA’s Vision 2025, which goals to help 2 000 SMMEs and 200 start-ups by 2025 with wide-ranging abilities improvement and financial funding. By the end of this 12 months, CHIETA shall be about a third of the way to reaching this goal. In 2021 we supported a hundred twenty five entrepreneurs and by the tip of this yr we will be equipping an additional 500 for profitable small business growth.
This multipronged technique is producing job creators rather than job seekers, and we’re working with larger training institutions and other companions to ensure the entrepreneurs-in-the-making might be enabled via wide-ranging abilities growth, monetary support, and entry to market linkages.
เกจวัดแรงดันแก๊ส has an allotted budget of R20 million for small business support throughout the chemical industries sector in our 2022-2023 monetary year. This will assist in delivering coaching in entrepreneurial expertise, incubation programmes, learnerships, bursaries, grownup education and coaching, and different initiatives that contribute overall to small enterprise progress, all of which shall be rigorously monitored and evaluated throughout the period of the programmes to make sure success and sustainability.
This goes a way in the path of offsetting the sturdy non-entrepreneurial tradition in South Africa and instead instilling an entrepreneurial mindset throughout the ranks of our youth and, working with large-scale enterprises, all through the availability chain.
Clearly though, CHIETA’s mandate is restricted to the chemical industries sector. It behoves organisations and industries throughout the country to recognise the impactful benefits of entrepreneurial and SMME improvement to the nation. These advantages embody job creation, a lift in productiveness and wholesome competition as small companies typically enter markets with lower prices, new market growth, a rise in nationwide income, and the introduction of latest and revolutionary products, providers, and applied sciences.
As we transfer into Youth Month, we will select to celebrate it with an unequivocal dedication to constructing a robust cohort of younger entrepreneurs and SMMES in South Africa, for the nice of the financial and social development of South Africa.
“The youth must be enabled to become job generators from job seekers.” APJ Abdul Kalam
For more details about CHIETA, visit www.chieta.org.za

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