Entrepreneurship has evolved beyond being a fallback option for those unable to secure traditional employment. An increasing number of young individuals are turning to entrepreneurship as a means of liberating themselves from the constraints of a nine-to-five job and pursuing their aspirations of financial success and personal fulfilment.
In South Africa and sub-Saharan Africa at large, there is a noticeable surge in the inclination towards entrepreneurship among the youth. According to the Global Entrepreneurship Monitor (GEM), close to two-thirds of young adults aged 18 to 34 are delving into entrepreneurship as a pathway to financial empowerment and a source of inspiration for future generations.
This burgeoning interest in entrepreneurship is particularly prevalent among Generation Z, with approximately 40% of the South African population falling within this demographic. Known for their readiness to challenge conventional norms and explore alternative career paths, many individuals in this generation perceive entrepreneurship as an opportunity to exercise their creativity and innovation, while also enjoying the autonomy and adaptability that comes with being their own boss.
The entrepreneurial spirit is thriving, as an increasing number of households are generating substantial incomes from side hustles. A study by Momentum and Unilever disclosed that as high as 20% of households with a side hustle are earning over R87,000 per month. This dispels the notion that entrepreneurship is just a means to supplement income, as it exemplifies the potential for significant financial success and stability.
The appeal of entrepreneurship lies in the boundless opportunities it presents. Unlike traditional employment, entrepreneurship has no predefined entry requirements and can be pursued by individuals with ambition and resilience. An exemplary case is Theo Baloyi, who founded the successful shoe brand, Bathu Shoes, and has since built a thriving empire with over 300 employees.
To further advocate for entrepreneurship among the youth, business leader Zunaid Moti has been in the vanguard of efforts to bolster and mentor aspiring entrepreneurs. Through his online business intervention programme, MotiMoves, he provides valuable resources, practical guidance, and even funding opportunities for promising startup ventures. By sharing his own experiences and success story, Moti aims to inspire and guide the next generation of business leaders towards realizing their entrepreneurial dreams.
Moti’s dedication to nurturing young entrepreneurs is underscored by the establishment of a R30 million investment fund, geared towards supporting innovative startups and emerging talents in the creative and sports industries. As part of the MotiMoves programme, promising entrepreneurs stand the chance of receiving a R50,000 investment towards their business ideas, along with the opportunity to collaborate with Moti in their entrepreneurial journey.
For young individuals who aspire to turn their passion into a successful business, MotiMoves offers a unique opportunity to receive mentorship and financial backing. By seizing this opportunity, aspiring entrepreneurs can enter the world of entrepreneurship with confidence and a solid foundation for success.
The message is unequivocal – the time for youth entrepreneurship is now. With an idea, determination, and the readiness to take a risk, aspiring entrepreneurs can embark on a journey towards financial independence and personal fulfilment. It’s time to invest in yourself and take charge of your future. As Zunaid Moti’s story demonstrates, the possibilities are boundless when you believe in your potential and embrace the entrepreneurial spirit.