Entrepreneurship in an emerging and culturally diverse economy: A South African survey of perceptions

Abstract

South Africa has consistently ranked very poorly in the Global Entrepreneurship Monitor survey in terms of entrepreneurial activity. It is clear that South Africa is not producing a sufficiently entrepreneurial economy and this needs to be addressed so as to create employment, expand markets, increase production and revitalize communities. This paper examines the entrepreneurial traits of a diverse group of young adults in South Africa. It draws on a sample of 609 university students and looks at their attitudes towards and perceptions of entrepreneurship, entrepreneurial opportunities and the broader economic environment in an attempt to clarify how South Africans view entrepreneurship. Although the data do not allow the identification of causal relationships, descriptive statistics show that socio-economic elements play a noteworthy role in people's perceptions of the value of entrepreneurship and thus need to be incorporated in entrepreneurial models.