Entrepreneurship Policy in South Africa

Abstract

This paper tracks the development of entrepreneurship policy in South Africa since the birth of democracy. Using the variety of measures suggested by the OECD Framework for measuring entrepreneurship, the Entrepreneurship Indicators Project and GEM, this paper explores the development of a model for the evaluation of Entrepreneurship policies of South Africa. The point is made that while the stimulation of entrepreneurship and small business is important to South Africa, the global competitiveness race and the moves occurring in other parts of the world require us to hasten towards the development and adoption of policies that encourage innovation and entrepreneurship. There appears a concentration of effort at interventions aimed at entrepreneurship for the purposes of poverty alleviation and job creation. While this is laudable, it is suggested that more emphasis should be focused on stimulating growth of existing businesses and encouraging innovation for real entrepreneurship in the country. Despite the E Policy interventions, we are relatively slow in measuring the impact of these policies on our economic development and welfare. This paper attempts to rectify this.

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