In July, Standard Chartered in collaboration with Business Fights Poverty held the Futuremakers Forum 2021. This Insights Paper is a distillation of the lessons learned during the Forum. The paper is divided into two sections - the first section focuses on what young people shared during the Forum, and the second, on business leaders.
Identification And Evaluation Of Business Opportunities: The Experiences Of South African And Ugandan Youth Entrepreneurs
It is often believed that without opportunity, entrepreneurship would not exist. Identification and pursuit of opportunities are believed to be at the very heart of entrepreneurial success, which sets entrepreneurs apart from other members of society. However, according to the recent Global Entrepreneurship Monitor Report, only about one-third of South Africans were able to recognize entrepreneurial opportunities within their communities. In Uganda, the majority of the youth entrepreneurs are said to be engaged in low margin businesses that are only able to meet the day-to-day needs of the owners with very little differentiation amongst them.