Critical analysis of entrepreneurial spirit, attitudes and perceptions of young South Africans in KwaZulu-Natal province

Abstract

Positive entrepreneurial spirit, attitudes and perceptions among the communities, with specific reference to young South Africans in KwaZulu-Natal province, can improve the lives of many young people and alleviate poverty and unemployment challenges in the province. This paper intends to analyze the entrepreneurial spirit, attitudes and perceptions of young South Africans, in addition to which it will also analyze the most critical factors affecting young South Africans when embarking into business. Primary data were collected by means of both qualitative and quantitative methods. Data were collected in eThekweni Municipal areas. The sample consisted of 350 young South Africans between the ages of 18-35, both those who are working, as well as those who are unemployed, with or without tertiary qualifications. Respondents completed a five–point, Likert scale questionnaire, with the assistance of an interviewer. The results disclose that the large number of respondents indicate bank requirements to obtain a loan and financial support as major barriers to starting a business. The findings further indicate start-up capital as another constraint that demoralizes, quelling the entrepreneurial spirit among the young. The results found to be statistical significant at (p = .000*). Further research should aim to examine youth entrepreneurial training programs and entrepreneurial support skills.