It is estimated that between 70% and 80% of businesses started in South Africa will fail within two years of existence.
It is estimated that between 70% and 80% of businesses started in South Africa will fail within two years of existence.

Standard Bank looks at the untold stories of entrepreneurs

By Brandstories Time of article published Dec 1, 2020

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The Small Enterprise development agency estimates that there are over 2.6million Small and Medium Enterprises (SMME) in South Africa which contribute to the economy and create over 11 million jobs.

It is also estimated that between 70% and 80% of businesses started in South Africa will fail within two years of existence. These numbers are staggering, and they tell a story about the need for support to ensure more businesses survive and create employment, but they do not tell the whole story.

“For every business that is trading there is a human story to be told. Global entrepreneurship week is a celebration of pioneers who dream big and do what is needed to bring ideas to life. As an organisation that supports businesses, we wanted to create a platform for business owners to tell their stories,” says Belinda Rathogwa, Head of Client Solutions - Small Enterprises at Standard Bank.

Through the “Behind The Numbers” campaign, Standard Bank aims to showcase the personal journeys of entrepreneurs from various walks of life as they start , run and grow their businesses, highlighting what it truly means to be an entrepreneur and small business owner. There is a cost to entrepreneurship but there is also great reward for those that are able to overcome the challenges it presents.

“Behind the numbers” will create the platform for entrepreneurs and small business owners to share their journeys with the hope of passing on lessons learned to those that are yet to embark on their own entrepreneurship journeys.

“We are excited to tell the real stories of everyday South African business owners. “We hope that through this campaign we can educate, empower and inspire more entrepreneurs to pursue their dreams and ultimately contribute to the development of our country,” concludes Rathogwa.

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