Polokwane’s youth turn to entrepreneurship
An economist notes a rise in youth-owned start-ups in Polokwane as a response to job scarcity, but warns they need mentorship and funding to survive.
POLOKWANE – Many young people are moving away from seeking jobs traditionally and are now reverting to starting their own businesses to create income and employment.
It’s about survival
This, according to local economist Tony Mahlasedi, who remarked that youth entrepreneurship has increasingly become a key response to the unemployment rate in the country, with the city reflecting this growing shift.
Mahlasedi mentioned that there has been a noticeable rise in new youth-owned businesses across the city: “A lot of young people in Polokwane are opening new businesses, especially at a small and informal level. This shows both resilience and a strong desire to participate in the local economy”.
He mentioned that youth entrepreneurship is no longer just about innovation, but about survival in a tough economic climate.
Energy and creativity meet a harsh economic reality
While youth participation in entrepreneurship has increased nationally to approximately 20% in recent years, challenges still remain at a local level.
According to the economist, many young entrepreneurs are still facing issues such as securing funding, accessing formal markets and business skills, making it difficult for start-ups to grow and remain sustainable.
He warned that without proper planning and support structures, many promising businesses are at the risk of failing while it is still early.
“The energy and creativity we see among the youth must be matched with mentorship, skills development and access to finance,” he explained.
Mahlasedi urged mentors to come forward and support the potential of the youth in the city and guide them in taking well-informed decisions. “I plead with experienced businesspeople and professionals to mentor these young entrepreneurs, it is very critical,” he concluded.
