The world of entrepreneurship

According to the 2019 Economic Performance Indicators for Cape Town (EPIC) report, the unemployment rate for people aged between 15 and 24 was estimated at 44,7% in the first quarter of 2019. This is an increase from 44,4% in the previous quarter. These figures mean you, as a young person, run a high risk of remaining in a cycle of poverty.

So what can you do? One way for you to tackle the challenge of unemployment is to start considering entrepreneurship as a career choice, instead of looking for a job in a market that has too few jobs. By choosing to be an entrepreneur, you will not only be able to create a job for yourself, but you may even be able to create jobs for others and help stop the rising level of unemployment.

To start, you will need drive, energy, creativity and perseverance.

How to get started

Whether you're starting from scratch with a fresh business idea or looking for specific information to help develop your business further, here are some sources to help you research your ideas and get your business up and running:

• Undertake your own online research and use online resources to develop your business idea, such as the National Youth Development Agency (NYDA).
• If you are finished with school, consider studying business management at a local TVET college, such as College of Cape Town or Northlink College. Full bursaries are available.
• Use available support by visiting the NYDA office at Shop P18A, Golden Acre, 9 Adderley Street, Cape Town:
  (021 415 2040).
• Consider applying for Cape Town-based development programmes such as the Raymond Ackerman Academy, the Rainbow Academy or the Tsiba Academy.
• You can also become a leading African entrepreneur by joining one of the African Leadership Academy’s programmes aimed at youth leaders and entrepreneurs from 15 – 22 years old.
• The University of Stellenbosch Business School (USB) runs the Small Business Academy, an intensive nine-month course targeted at small business owners from low-income communities in greater Cape Town.
• If you are ready with your business proposal, visit our section on registering your business.

The City is here to support your small business ideas.

Contact The Business Hub:

Telephone:
021 417 4043

Email:
business.support@capetown.gov.za

YouthStartCT Entrepreneurial Challenge

The #YouthStartCT Challenge is an accelerator programme for start-up entrepreneurs. The main aim is to contribute to skills development, innovation and to stimulate entrepreneurship in Cape Town. The competition is open to Cape Town residents aged between 18 and 35 and gives individuals the opportunity to develop a business idea to meet a specific challenge to benefit their community. Support is offered to the entrepreneurs to help them commercialise their solution.

Private corporates who are able to assist with sponsorships are invited to get in touch - see how by visiting the Support the YouthStartCT Entrepreneurial Challenge page.

For further information, contact:

YoutStart Capetown

Email:
youthstart.ct@capetown.gov.za

Document downloads

• 1. EPIC Quarter 1 (January-March) 2016 Quarterly Report: Clothing and Textile

     01/01/2016, Quarterly reports - 5.1 MB