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Investing in Entrepreneurship to Create Jobs

Posted By Guy Pfeffermann, Wednesday, February 06, 2013
Guy PfeffermannAccording to Clem Sunter as quoted in the article "Has South Africa lost the plot," until the country fundamentally changes its mindset around entrepreneurs and regards them as the centrepiece of the nation’s future economic prosperity, we are doomed.

"We will not create the jobs we have targeted unless we create a supportive environment for entrepreneurs to operate in,” he says. "National plans emphasise the developmental state, which is just a euphemism for more chains and more regulation and more economic prioritisations. The people writing the plans have never created wealth themselves in order to be paid.”

Sunter has argued for many years that the only way to turn the exclusive economy into an inclusive economy is to precipitate an entrepreneurial revolution.

"If 20 000 entrepreneurs are able to successfully start their own small businesses and can realistically each add 25 jobs to their respective workforces, they are creating 500 000 jobs immediately. The country’s vision says it will be creating 5 million jobs by 2020. How?”

Not only, says Sunter, are entrepreneurial jobs more sustainable in the long term than public works programmes funded by taxpayers’ money, they are also about individual self-sufficiency and achievement.

"Bring the township economies into the mainstream economy,” he says.

We will be looking at the importance of entrepreneurship to economic development at our upcoming annual conference, being held in Tunis June 10 - 12.  Themed "Education, Employment and Entrepreneurship," the conference will convene business school faculty and deans, as well as industry, development and government professionals to network and collaborate.  I look forward to an engaging conversation about how business schools can work towards making a stronger impact on entrepreneurship in developing countries.

>> Click here to read the full article quoted here


Guy Pfeffermann is the CEO of the Global Business School Network.  He was formerly the chief economist of the International Finance Corporation at the World Bank, where he founded GBSN.

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