A Critical Analysis on the Factors Inhibiting the Growth of Youth Enterprise Development in Durban, South Africa
According to South Africa’s National Development Plan the majority of job opportunities created by the year 2020, will be through small business venture. Youth entrepreneurship has the potential to boost the economic participation of young people. By establishing their own business venture, the youth can contribute to society by increasing employment opportunities and alleviating poverty. However there are issues afflicting South Africa entrepreneurship sector which is regarded as underperforming with low rates of entrepreneurial activity and a high business failure rate. Several studies have identified barriers limiting the growth and expansion of entrepreneurial venture, namely inadequate access to funding, lack of financial literacy and limited knowledge of important regulatory issues. This academic paper will identify the issues influencing youth enterprise development in Durban, South Africa.
Keywords - Black Tax, Enterprise Development, Entrepreneurship, Youth