Empowering youth to become profitable entrepreneurs delivers a multiplier effect, with sustainable SMMEs creating jobs for other unemployed youth. This in flip additionally contributes to Setas with their levies, enabling additional support of small companies.
CEO Yershen Pillay
CHIETA’s expertise underpins the strong premise that entrepreneurship is undeniably one of the key means at our disposal to dramatically enhance job creation among our nation’s youth. With our rampant unemployment numbers, notably among young individuals, which Stats SA placed at 66.5% earlier this 12 months, and which was reported as the highest in the world by tradingeconomics.com in December 2021, the necessity to handle this actuality is urgent.
We know that there is no silver bullet to address this crisis, however we also recognise that comprehensive abilities improvement for young would-be entrepreneurs should be an important a half of the country’s efforts to create jobs for youth.
The OECD (Organisation for Economic Cooperation and Development), which represents 38 international locations including South Africa, revealed an article in late last 12 months which highlighted the global disconnect between young people’s aspirations to be entrepreneurs and the reality.
pressure gauge ดิจิตอล stated, “Young people present a high stage of curiosity in entrepreneurship. Overall, about 45% of younger folks report that they would favor to work as an entrepreneur quite than an employee, and 41% think it will be possible.
“However, few younger persons are actively working on start-ups or managing companies. Only about 8% of individuals aged 18 to 30 years in OECD international locations have been doing so between 2016 and 2020. The gap is quite a drop-off from the proportion who point out a need to be an entrepreneur, suggesting that there’s substantial untapped entrepreneurial potential among youth.”
This is exactly the situation that’s driving CHIETA’s Vision 2025, which goals to support 2 000 SMMEs and 200 start-ups by 2025 with wide-ranging skills development and financial funding. By the tip of this yr, CHIETA shall be a few third of the way to reaching this aim. In 2021 we supported 125 entrepreneurs and by the top of this yr we might be equipping an additional 500 for profitable small enterprise growth.
pressure gauge 2.5 นิ้ว multipronged technique is producing job creators rather than job seekers, and we are working with greater training establishments and other partners to ensure the entrepreneurs-in-the-making might be enabled through wide-ranging expertise growth, financial assist, and access to market linkages.
CHIETA has an allotted budget of R20 million for small enterprise support inside the chemical industries sector in our 2022-2023 financial yr. This will help in delivering training in entrepreneurial abilities, incubation programmes, learnerships, bursaries, grownup schooling and training, and other initiatives that contribute overall to small enterprise development, all of which shall be fastidiously monitored and evaluated all through the period of the programmes to make sure success and sustainability.
This is going some way in path of offsetting the robust non-entrepreneurial tradition in South Africa and instead instilling an entrepreneurial mindset throughout the ranks of our youth and, working with large-scale enterprises, throughout the provision chain.
Clearly though, CHIETA’s mandate is restricted to the chemical industries sector. It behoves organisations and industries all through the country to recognise the impactful benefits of entrepreneurial and SMME development to the nation. These advantages embrace job creation, a lift in productiveness and wholesome competitors as small businesses usually enter markets with decrease prices, new market development, an increase in nationwide earnings, and the introduction of new and innovative products, companies, and technologies.
As we transfer into Youth Month, we can choose to celebrate it with an unequivocal commitment to building a powerful cohort of younger entrepreneurs and SMMES in South Africa, for the nice of the economic and social growth of South Africa.
“The youth must be enabled to turn into job turbines from job seekers.” APJ Abdul Kalam
For more information about CHIETA, visit www.chieta.org.za

Scroll to Top