South Africans lack interest in starting own businesses - research

A new survey has found that only 10.1% of working-age South Africans are planning to start their own business in the next three years, compared to 41.6% of people in other African countries.

Fazlyn Toeffe, GIBS Enterprise Development Academy marketing & business development manager says the low numbers in entrepreneurship interest are caused by maths and science.

Reports have shown that maths and science form the basis for entrepreneurship interest.

Fazlyn Toeffe, GIBS Enterprise Development Academy marketing & business development manager

As we all know South Africa is at the lowest ranking when it comes to success in schools of learners doing maths and science.

Fazlyn Toeffe, GIBS Enterprise Development Academy marketing & business development manager

Toeffe spoke about the fear of failure and how people just don't see themselves as entrepreneurs but rather as people with the need to just survive.

In South Africa we have a culture that says failure is a terrible thing wherein in America you need to fail a few times to be recognised.

Fazlyn Toeffe, GIBS Enterprise Development Academy marketing & business development manager

To hear more of this interview, listen below:

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