RISE TO SUCCESS – ENTREPRENEUR EDUCATION PROJECT
OVERVIEW - JUNE 2017
‘”Throughout the world, shifts in population demographics, technology changes, fluctuating economies and other dynamic forces have transformed societies as never before, bringing new challenges and opportunities to the forefront. Among the responses to these shifting forces is an increased emphasis on entrepreneurship by governments, organisations and the public.” (GEM – Global Entrepreneurship Monitoring : Global Report, 2012)
Potential entrepreneurs are those who see opportunities in their environment, have the capacity to start a business and are undeterred by failure. Societal attitudes, such as the perception of good opportunities and whether individuals think they have the capabilities of starting a business, have a profound influence on the motivations of people to enter entrepreneurship.
Intentional entrepreneurs are those who intend to start a business in the next three years. This next stage in the entrepreneurial pipeline is important as a strong association exists between entrepreneurial intentions and actual entrepreneurial behaviour.
The factors that influence this behaviour are whether individuals see entrepreneurship as a good career choice, whether high status is given to entrepreneurs and whether the media attention to entrepreneurship is high.
Entrepreneurs in Cape Town are 5.9 times more likely to have started a business because they perceived an opportunity rather than being pushed into entrepreneurship because of no other option.
Entrepreneurs in the City of Cape Town perceive themselves, on average, to be significantly more and more innovative than entrepreneurs in Johannesburg or Durban.
This is a positive sign for the City of Cape Town, as a high degree of innovation orientation is expected to have a positive impact on economic development.