3WAYS IN WHICH ENTREPRENEURSHIP CAN HELP TO COMBAT UNEMPLOYMENT AND IMPROVE THE ECONOMY OF SOUTH AFRICA
Answers
Answer:
Entrepreneurship makes people self-reliant for their livelihood.
So if there are more entrepreneurs there is less need for having job openings available, since entrepreneurs create their own job and therefore lower unemployment.
Entrepreneurs create new jobs for others.
If entrepreneurs succeed they will hire employees to keep growing their business. Thereby entrepreneurs create new jobs.
Entrepreneurship attracts investment.
If investors from outside the country see many success stories of businesses in South Africa it will motivate them to invest their money into the South African economy.
Explanation:
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The entrepreneurial Impact is very prominent as it works towards making individuals have a good economic status, leading to the economic growth of the country.
Ways in which entrepreneurship can help to combat unemployment and improve the economy of South Africa-
Entrepreneurship makes individuals confident in their job:
- Residents' groundbreaking initiatives provide residents with paid work and development opportunities.
- They additionally furnish representatives with the resources to additionally develop one's own procuring likely through preparing and hands-on experience.
Positivity is attracted to entrepreneurship:
- If financial backers from outside the country witness several examples of firms succeeding in the face of hardship, they will be encouraged to invest in the South African economy.
Business visionaries create new positions for other people.
- In the event that these people thrive, they will enlist representatives to continue to develop their empire.
- Entrepreneurial folks create new stances in this way.
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