Discuss 3 ways in which entrepreneurship can help to combat unemployment and improve the economy of south africa

Because they need workers to succeed, new businesses will provide jobs to unemployed people

- As the number of unemployed people decreases, the health of the economy will increase and the unemployment rate will decline.

The entrepreneurial situation in South Africa is considered to be lower than the level required to support sustainable high level of economic growth. In the next article I will explain the challenges faced by South African entrepreneurs and the importance of entrepreneurial spirit. According to Thunder's report on entrepreneurial spirit in 2012, various composite evaluations are done in South African countries. Economic recession is comparable to the economic potential available at entrepreneurial opportunities (Sanlam, 2012). If this is more up-to-date, the status as a South African entrepreneur is far below the average (compared to other emerging countries South Africa is creating a new entrepreneur with a low fare)

In the past few decades, economic growth in South Africa has declined. People who focus on the development of the business are potential entrepreneurs who are also responsible for economic growth and employment creation. The economic growth rate needs to grow at 12% per year to achieve a 3% employment rate, which will help overcome the 25.2% unemployment rate. But according to statistics, if the labor market is more flexible, the unemployment rate will be low. Another reason for the high unemployment rate in South Africa is that they do not have sufficient businessmen to participate in SMEs to create jobs for people. Entrepreneurial spirit is a scarce resource for South Africa. But they have many successful entrepreneurs. The entrepreneurial spirit requires skills such as strategy, planning, marketing, finance, project management, interpersonal skills, etc. (Erasmus et al., Pp. 44, 45).