Entrepreneurship Essay

1020 Words3 Pages

ENTREPRENEURSHIP
Tyler Naidoo
Grade 12
Hyde Park High

1. What being an entrepreneur is?
According to Forbes, being an entrepreneur is not about starting a business or the person but rather it’s about a set of characteristics which is a way of thinking and doing things: innovative and creative, flexible and adaptive, active and dynamic, someone who thrives in an unstructured environment, people and team focused, prudent with costs, decisive.
Everyone might have some or most of these characteristics but being entrepreneurial is about taking nothing and making something out of it. They pursue opportunities and are relentless in making things happen even with resource constraints. (www.forbes.com)
2. The South African economy
The South African economy has slowed down to a four year low where GDP growth has only been 0.7% in the last quarter. The biggest contribution to this slowdown has been the car manufacturers and mining sector strikes and its impact on production. This accounts for almost 10% of the economy. The weaker rand is fuelling inflation falling by nearly 25% against the dollar. This has led to an increase in interest rate by 50 basis points. Fuel price is also increasing at the beginning of February by 39 cents having a negative impact on food prices increasing.
Moody’s rating of the future remains bleak due to both government and consumer over spending. Unemployment in South Africa is a huge concern as than 50% of South African aged between 15 and 24 are unemployed. According to the International Labour Organisation (ILO), "... compared to adults, young people today are more than three times as likely to be unemployed ... (and) being without work means being without a chance to work themselves out of p...

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... ways to promote entrepreneurship in South Africa, we still have a long way to go where the environment and socio-economic situation is conducive to growth of young entrepreneurs. In my chosen field of study, the barriers to entry are high within the Aviation vertical. However, there is still a skills shortage of black pilots in South Africa. There is a window of opportunity to seek funding either from the Private or Government sector. In essence, entrepreneurship is more around the characteristics of a person rather than the profitability. Based on my SWOT analysis, I am determined to make my career goal a success in the future.
9. Diagrams and Illustrations
9.1. Tyler Flight Training
Student Pilot Licence
Private Pilot Licence
Commercial Pilot Licence

9.2. Grand Central Airport – Superior Flight Services

9.3. Youth Wage Bargaining Curve

9.4. BBBEE Levels

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