Young entrepreneurs are show casing their businesses at the Ekurhuleni youth economic summit.
The four day summit comes as South Africa battles with rising youth unemployment. Government has partnered with the private sector to create internship opportunities for the youth in a number of initiatives.
According to Statistics SA, the unemployment rate sits at a worrying 26.7% while unemployment rate for young people is between the ages 15 and 34, sits at 38.2%.
This represents a crisis for the nation while the unemployment rate for young people between the ages 15 and 34, sits at 38.2%. This excludes the number of discouraged job-seekers.
However, young people who are finding it difficult to get into internship progammes or simply don’t have the financial muscle to further their studies are now going the entrepreneurial route.
Social Entrepreneur, Sibusiso Leope says entrepreneurship is not for everyone, “I was never born an entrepreneur, and I’ve done well in selling music and selling energy drinks.”
Young people like Sibusiso Mngomezulu and Msindisi Masango started Genius Minds in 2016.
Mngomezulu and Masango both hold an Electrical and Mechanical engineering qualification from Ekurhuleni East Rand College.
They decided to abandon their internship programmes to start their concept furniture and branding company. The Tsakane based youth owned business makes furniture for mobile bars, the outdoors and mobile office spaces.
Genius Minds, Co-Founder Mngomezulu says they didn’t have any money when they started their business.
Deputy Minister of Tourism Elizabeth Thabethe is encouraging young entrepreneurs to export their products beyond our borders.
Thabethe says this will help reduce the stubborn unemployment rate.
Young entrepreneurs are encouraged to join mentorship programmes in order to grow their businesses.
WATCH RELATED VIDEO BELOW:
