Having just entered a technical recession (as announced by Stats SA – 4 Sept 2018), South African entrepreneurs are facing monumental challenges especially in terms of the consistent and ever-increasing unemployment rate.
The Lions Den has launched the Black Entrepreneur Movement, our purpose being to create, coach and inspire 100 000 black entrepreneurs in the next 12 months in building sustainable businesses which are both profitable & remarkable and to live better & more fulfilling lives.
. The issues facing Black Entrepreneurs including information from the Global Entrepreneurial Index is:
- The lack of the basics; electricity, water, roads, working spaces etc especially in townships
- The environment in which previous inequalities still hinder growth & access to networks
- The lack of business literacy and education in entrepreneurship
- The lack of physical infrastructure like business hubs
- The exorbitantly high cost of living
- The lack of intent to start a business amongst the working age
- The threat of automation, artificial intelligence and robotics on jobs and
- The lack of access to funding and finance