The contribution of youth in Local Economic Development and entrepreneurship in Polokwane Municipality, Limpopo Province

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Leshilo A
Lethoko M

Abstract

This article reports on an investigation of the challenges facing fifty young entrepreneurs in the Polokwane municipality, Limpopo Province, South Africa (Leshilo, 2014). Data were collected by means of 10 face-to-face interviews and 40 questionnaires. The findings highlighted the following issues: unfavourable administrative and regulatory burdens; insufficient entrepreneurship education; a lack of access to finance, markets and business development services for start-ups. The key recommendations of the study are as follows: government should simplify the criteria for obtaining finance from its own established financial institutions by reviewing its current lending policies and replacing them with less stringent requirements in order to allow for equal opportunities among the youth; government and the private sector could play more of a critical role, for example by taking young entrepreneurs on international trade missions to market their goods and services; and should also ensure the provision of targeted entrepreneurship support services to this group.

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