By Talitha Bertelsmann-Scott, Head : Economic Diplomacy Programme, and the entire Economic Diplomacy Programme team, South African Institute of International Affairs (SAIIA)
Explore the 2017 African Economic Outlook: Entrepreneurship and Industrialisation in Africa for more on this subject.
Industrialisation is a key driver of sustainable development. It creates jobs, adds value and promotes trade through greater integration into global value chains. At the same time, entrepreneurship and small and medium enterprises (SMEs) are critical to every economy by creating jobs and innovative goods, promoting a competitive environment and economic growth, and facilitating income distribution. The South African government recognises the need for entrepreneurship and SMEs’ engagement with industrialisation efforts to address some of the key socio-economic challenges in the country, particularly poverty, inequality and unemployment. However, South African entrepreneurs 1 still face a number of constraints that hinder greater participation in industrialisation efforts. So, what are the roadblocks standing in the way of entrepreneurs? Continue reading