Young people in Mpumalanga are being encouraged to start their own businesses and create employment opportunities for themselves, rather than queuing to be employed by others.

This message comes from Lucky Sibiya (30), co-director of L&L Investment and Loans in Justicia, Bushbuckridge, who started his business without any financial backing. Today, the business is thriving and has created jobs for others in his community.

Sibiya told Hazyview Herald that starting a business begins with identifying a problem and providing a solution.

“There is great sustainability in establishing businesses, especially for the youth in our country. We should be innovative and full of life-changing ideas and solutions to improve the current state of our nation. The Covid-19 pandemic showed that there is more freedom in ownership and entrepreneurship compared to a standard 9-to-5 job. You have the chance to implement new ideas at your own pace,” he said.

ALSO READ: Summit ignites financial empowerment in Hazyview

He added that entrepreneurship allows individuals to take control of their time and do what they are passionate about.

“Being an entrepreneur enables one to generate solutions to challenges facing our country. There is great satisfaction in finding solutions to these problems, and that is one of the most rewarding long-term benefits of ownership,” he explained.

Sibiya emphasised that funding is not always necessary to start a business, but is important for growth. “It is important to note that we do not always need funding to start, but we do to grow. Young people should first conduct research and gather information about what they want to do. It is highly unlikely for investors to fund an idea that has not been tested.”

He further advised aspiring entrepreneurs to understand that a business idea only exists in the mind until it is put into action.

ALSO READ: Mandla Msibi resigns from ANC, says future plans undecided

According to Sibiya, the first 999 days of a start-up are both challenging and crucial in shaping the future of the business.

“You need to be disciplined, dedicated and never lose focus. Stay humble and enjoy the process. The foundation of your business is the most vital stage and should not be taken lightly, as it determines its strength and success,” he said.

Sibiya believes that young people have the potential to identify gaps within their communities and provide practical, legitimate solutions.

“They should study the problems faced by people in their daily lives and work towards solving them. At the same time, they must ensure there is financial viability in their solutions; otherwise, the business may not succeed,” he noted.

He also stressed the importance of market research and financial discipline. “Always study the market and gather information to stay competitive.

If necessary, go back to the drawing board – your bedroom can be your boardroom. Surround yourself with people who have the capacity to drive your vision.

Financial discipline is key in start-ups; you must separate personal finances from business finances.

Never use business funds for personal needs, as this can lead to failure. Reinvest in the business consistently to manage cash flow and increase turnover,” he said.

Sibiya acknowledged that access to resources can be difficult in the beginning, but urged young entrepreneurs not to be discouraged.

“Start with what you have, where you are, to achieve your future goals. Your phone, laptop and data can be powerful tools if used correctly and meaningfully. Avoid overspending during the start-up phase,” he concluded.