Challenges Experienced By Entrepreneurs in Africa
Entrepreneurship still proves to be one of the most innovative solution to many socio-economic challenges faced in Africa’s underprivileged communities. Entrepreneurial development is still a challenge in many areas of Africa, especially townships and rural areas.
Now some might ask, what exactly is entrepreneurial development. It all starts at the grassroots, entrepreneurship is not being taught to children at school, therefore young aspiring entrepreneurs lack the simple entrepreneurial mindset they need to succeed..
Basically, Africa has not developed an environment that is supportive enough for young existing and aspiring entrepreneurs in rural areas and townships to start and expand their businesses.
According to the Small Enterprise Development Agency (SEDA) in South Africa, countries in the SADC region have a shockingly high youth unemployment rate which has a detrimental effect on community life as it leads to criminal activities, alcohol and drug abuse as well as teenage pregnancy and intergenerational relationships.
Entrepreneurship is a solution to unemployment, however in Africa, entrepreneurs are not thriving. A lot has to be done to improve entrepreneurial ecosystems in African countries. A survey conducted entrepreneurs found that they struggle the most with;
- Raising funds to start or expand a business
- Finding customers
- No guidance and mentorship
This simply shows the urgent need for business support services, especially for young entrepreneurs who are interested in technology because it is overlooked by most young people as they don’t have access to the essential knowledge they need about the industry.
A platform that promises to provide convenient access to business support services for young entrepreneurs in rural areas and townships could contribute positively to changing the way things currently are.