Small businesses and start-ups are the next frontier in developing the economy and creating jobs amid the unfavourable economic climate.
Jordaan advised individuals to find ways to fund their own businesses rather than approaching banks to acquire funds.
702/Cape Talk's #FridayStandIn, Michael Jordaan, explores the issue with listeners.
Listen to the conversation below:
Start-ups are the single biggest thing that will take us into the future. If you come up with an idea, the best way is to start a business around it.— Michael Jordaan, venture capitalist
Find something that you think is a problem and solve it. There's so many things that need resolution from education, technology, health.— Micahel Jordaan, venture capitalist
My concern is around capacity building and what process should we be going through to ensure that a higher percentage of people will come through the other end?— John, caller in Wellington
How do small guys like myself get in touch with other channels of funding like venture capitalists because we know that we can't go to the banks as they require things that we just don't have.— Sbu, caller in Midrand
Jordaan spoke to various business people regarding the services they offer, as well as advice they could impart for individuals looking to venture into the world of entrepreneurship.
My experience with the South African tech ecosystem is that people are far more risk averse and much more conservative than they are in places like Silicon Valley and New York.— Elizabeth Gould, codeX