Entrepreneurship Propensity Policies

Based on the systemic (intrinsic and extrinsic) nature of entrepreneurship, there remains a need for interventions related to niche policies and programmes to encourage NVC.^1,2,3,4 Such interventions should aim to improve the regulatory environment, influence changes to existing small business policies, and create policies specific to youth entrepreneurship.⁵ South Africa is seen to have a relatively fair regulatory framework for SMEs; however, challenges remain in developing and implementing policy to stimulate youth entrepreneurship more effectively. Such policies should aim to increase the supply (stock) of youth entrepreneurs to the economy while minimising unnecessary obstacles and bureaucratic burdens at the ideation, start-up, and early stages of NVC.

Influencing entrepreneurship policy can be achieved by a series of activities that aim to impact current policies and emphasise the need for the implementation of new “niche” entrepreneurship policies. A comprehensive approach is required to influence entrepreneurship policies through the use of research findings, evidence and advice, public campaigns, and advocacy, lobbying and negotiation.⁶ Our approach is through the use of public campaigns and advocacy to create engagement through public and political debates, speeches and presentations related to entrepreneurship propensity and new venture creation. Our goal is to implement large scale public communication campaigns (public education) and open dialogue in relation to reducing structural barriers and formulating youth entrepreneur-friendly policies and programmes.

¹Naudé (2011), ²Isenberg (2011), ³Ahmad and Hoffman (2007), ⁴OECD (2008), ^5,6Smith (2017)