The concern over the lack of progress in funded youth businesses comes just weeks after Premier David Mabuza launched the Mpumalanga Enterprise Development Fund to assist small businesses, especially those being started and owned by young people.
Economic Development MEC Eric Kholwane says he has noticed that a majority of those young people which they find do not get anywhere with their businesses.
Kholwane was in the Standerton township of Sakhile, conducting fact-finding visits.
Kholwane raised serious concerns about young people’s businesses that do not get anywhere despite receiving funds from the government, Mpumalanga News reports
“Youths are expected to use the money to grow their business,” the MEC said.
“I have noticed that these days young people start their own business but fail to sustain them. Such things need to be addressed,” Kholwane said.
Three weeks ago, Premier David Mabuza launched the Mpumalanga Enterprise Development Fund to setting aside R300 million for small businesses and growing young farmers.
Kholwane said it will be important that the challenges in sustaining businesses of funded youths are addressed.
“As a department we are not providing a social grant, we are funding businesses. The funds are not social grants. Youths are expected to use the money to grow their business, and it is important to start a sustainable business,” he said.
(edited by ZK)
Send tips to [email protected]