Is Youth Entrepreneurship Key to Addressing Youth Unemployment? Interrogating South Africa’s Youth Unemployment Dilemma

Abstract

Youth entrepreneurship is considered an important factor in economic growth, job creation, and poverty alleviation. However, while the youth unemployment rate is worrisome, especially in developing countries, youth entrepreneurship has been seen as key to addressing this problem. In South Africa, the youth unemployment rate is over 30 percent and has become an impediment to inclusive economic development. This paper examines whether entrepreneurship can be the key to addressing South Africa’s youth unemployment problem. The paper adopted a qualitative approach where a review of the literature was undertaken. From this paper, it was revealed that youth entrepreneurship development is the key and is an important tool that needs to be employed to address socio-economic issues that are affecting the economic growth of the country. Additionally, it was revealed that there is a need for the establishment of laws and regulations that will create a favourable environment for businesses to operate, and that will encourage businesses to grow and inspire youth to start their own businesses. To ensure this happens, policymakers are also encouraged to develop an educational curriculum that talks to entrepreneurship education as it has been identified as the best solution for youth entrepreneurship development.