Posted on August 10, 2011
..."Entrepreneurship continues to be a cornerstone of our business today. It is key to growth, job creation and building a better South Africa. We salute all the entrepreneurs and look forward to being inspired by their stories each week." Tribune Editor Philani Mgwaba says that while entrepreneurs face enormous hurdles, their stories are inspirational. "The more entrepreneurial our mindset, the more chance we've got of being self-reliant and of surviving in the modern, global economy." Standard Bank released figures recently which said there were three million small businesses in South Africa, representing 95 percent of all enterprises and contributing towards 45 percent of the country's Gross Domestic Product. Professor Nick Binedell, founding director of the Gordon Institute of Business Science (GIBS) says for a prosperous and democratic society to thrive, economic growth is vital and the engine for that growth is entrepreneurship. "If South Africa is to succeed, there is little doubt that we need a future generation of entrepreneurs with imagination, resilience and the personal ambition to build great businesses to help create a fully competitive, thriving nation that is strong, skilled and prepared," says Binedell. According to Greg Fisher, GIBS MBA alumnus and a senior lecturer: "To be successful in launching a new enterprise, one generally needs to be effective in three broad areas: (1) innovation and creativity, (2) general management and (3) in the area in which the business is going to operate. "If one wishes to be successful in launching a new enterprise, it is worth considering how you can increase your capacity in all three areas to maximise your chances of success."
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