OPINION - AS I reflect on the decline of small business activity in our townships, the question that follows is what can be done to solve the conundrum of declining township businesses. In my childhood, there were many small businesses controlled by the locals.
I am not sure what has changed, but I see a declining trend in the locals’ participation in the township economy.
This is cause for concern. The introduction of malls into townships has introduced a new challenge for businesses.
It is impractical for township businesses to compete with established businesses on price, convenience and variety. Some of the township businesses were built with no profit objective in mind but rather as a survival mechanism.
The unemployment situation is demanding innovation.
Researchers have argued that the 22 million people living in the township and informal settlements account for 38% of working-age citizens and for 60% of the country’s unemployed.
We, therefore, need to attract young people into entrepreneurial activity.
To encourage them to cross, we need to ensure there are resources to help them.
Establishing entrepreneurship hubs will also help in reaching out to young people.
The people managing the hubs must have entrepreneurship experience.
Researchers have said many of the people managing such hubs do not have an entrepreneurial background and thus make it difficult for entrepreneurs to succeed.
The township economy can be saved. Let us start levelling the ground for the future of this country.
Daily New
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