Young people must be actively involved in establishing new mechanisms of conducting viable businesses that are in sync with the inventions of the 21st century, says Minister in the Presidency for Planning, Monitoring and Evaluation, Jeff Radebe.
“As the government, we have adopted clearly defined policies and procedures to ensure that we support Small, Micro and Medium Enterprises (SMMEs) and give first preference to black-owned business enterprises. The more successful local businesses we have, the better the economic standing of South Africa in the world,” the Minister said.
He addressed the Township Business Innovation Seminar, organised by the Township Entrepreneurs Alliance (TEA), in Tembisa on Saturday.
TEA has created a platform for township entrepreneurs and aspiring entrepreneurs to engage and learn, as well as access mentorship and the skills necessary to start and operate a business.
“Entrepreneurship is one of the most vital undertakings to change the socio-economic landscape. The National Development Plan (NDP) anticipates that 90% of the new 11 million jobs to be created by 2030 will come from SMME development.
“We must revitalise township and rural economies by supporting the development of black-owned enterprises, cooperatives and SMMEs,” Minister Radebe said.
Township entrepreneurs can produce goods and services to satisfy the demand of residents in the townships. “They know the market demands in their communities better than anyone else. It is imperative that both government and business work together in order to stimulate significant economic growth in our country,” he said.
Minister Radebe called for a change in the socio-economic condition of the masses in the country.
“We need to build a country with an economy that can sustainably meet the material needs of all its citizens,” he said.
According to Minister Radebe, the success of the NDP and other government interventions is dependent largely on active citizenry and direct involvement of people from all sectors of society.
“We believe that active citizenry and building a capable developmental state are key to ensuring that we deliver satisfactorily on the mandate given to us by the electorate,” he said. –SAnews.gov.za