The purpose of the Idea incubation comes in light of the developments recently occurring in our economy.
There has been much fear and anxiety about the survival of the South African Economy. Negative economic growth as measured by the GDP, decreased exports in relation to imports, political instability, and the consequence of demotivating investors coupled with the overriding fear of the flight of Capital.
It seems that the solution lies amongst other things in job creation. The state has put a lot of work to develop strategies in the form off the national development plan to create jobs in the service sectors of our economy.
I am doubtful of how this service based economy can have the absorptive capacity to accommodate the need for the creation of jobs that faces South Africa.
I am also not sure of how sustainable it is to have an entire society relying on the state for the creation jobs and stimulating the economy.
I am under the impression that the most effective tool for economic development is encouraging a culture of entrepreneurship in society.
As a student, I hear a lot of fellow students talking about applying for jobs at major companies and obtaining a comfortable salary. Very seldom do I hear of people wanting to engage in the scary task of starting a business venture. And even more seldom do I hear people wanting to engage in business ventures in the production sectors of the economy. By this I am referring to the secondary sectors including manufacturing, construction, and distribution of manufactured goods.
A s a result, I think this is a valuable conversation to conduct. Why is it unattractive to want to engage in the process of starting a business? This may seem like a question with an obvious answer but I believe it is the right question to be asked as it will bring up a conversation around how business can be encouraged.
The discussion must address the importance of business in modern day Africa. Then the discussion must address how a culture of business may be encouraged. In this fase of the discussion we can have inputs on how government policy may be improved in order to create an environment that is more conducive for business. We can also have an input on how women may be involved more in business. Furthermore, how Africans can create relations on how business effectively with one another.
I am sure that we will have a series of speakers who are interested to engage in this discsssion and this will be a first of many to come.
YPIB Idea Incubation
11th September Law 1-54
University of Pretoria