“Because young South Africans can no longer rely on the formal sector for employment, it has become imperative to equip them with the acumen they need to start and run businesses that thrive.”
South Africa’s unemployment rate is still too high, with various governmental plans so far seemingly unable to address it. Thus, entrepreneurship has been positioned as a solution.
But for entrepreneurship to work, it needs to be included in schools for future entrepreneurs of South Africa to thrive.
Centennial Schools’ CEO and founder, Shaun Fuchs, says entrepreneurship is a driving force behind the country’s economic growth, especially in the small, medium, and micro enterprise (SMME) sector, which supports thousands of employees.
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Entrepreneurship failure
He says it is concerning that SA’s SMME failure rate is among the highest in the world – and he believes this can be changed by including entrepreneurship in the school’s curriculum.
“Because young South Africans can no longer rely on the formal sector for employment, it has become imperative to equip them with the acumen they need to start and run businesses that thrive.”
How can entrepreneurship be taught?
Fuchs adds that the curriculum must equip pupils with essential knowledge in marketing, financial management, innovation and networking, as well modern-day essentials like coding, content creation and cryptocurrencies.
“There has been a push for government policies that support entrepreneurship, enhance vocational training, improve access to finance, and encourage private-sector investment – and, while the wheels have slowly started turning, it’s clear that more needs to be done, much faster.”
Education that harnesses technology
“There is a real need to provide learners with a future-forward education that harnesses technology, encourages lateral thinking, and teaches skills they can take forward with them.
“By instilling an entrepreneurial mindset and practical skills, we are helping our learners to take charge of their futures, and ultimately, to help build a stronger economy.”
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Entrepreneurship not for everyone
Dr Corrin Varady, education analyst and CEO of IDEA, said the overemphasis on “entrepreneurship for all” overlooks the notion that it may not be a suitable career choice for everyone.
He is of the view that entrepreneurship education alone should not be seen as the default solution to unemployment. He does acknowledge that unemployment has resulted in a lot of people entering the business world.
Government’s efforts
“Despite efforts to integrate entrepreneurship into the basic education curriculum, aligned with the National Development Plan’s goals, there has been a decline in the number of students taking subjects such as Business Studies, Maths and Economics,” said Varady.
He believes that pupils drop those subjects because they find them challenging. However, there must be encouragement for pupils to continue with these subjects. The concepts and knowledge that these subjects can offer can lead them towards entrepreneurial problem-solving.
Varady said the subjects are foundational not only for success in entrepreneurial endeavours but also for traditional employment.
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