Document outlines some key points that the author feels are necessary for driving economic change on the African continent,

1. Theme: SMME, The Key to Driving Economic Change in The Continent
Theyare keysdriversthatneedtobe addressed
1) Mind-set
 Have to change ourcurrent mind-set.Create amind-setforbusiness.Move awayfromoveremphasis
on paperqualifications. Move from“Whatam I goingto get – to – What am I goingtogive?”
 SA – Elephant– Door has beenopenedbutdonotknow how to get out
 Encourage entrepreneurshipfromayoungage (give childrensome small moneytoinvest,do
business).(Parable of the talents)
2) Skills, Training and Development
 Start teachingentrepreneurshipatanearlyage.Introduce it to curriculuminprimaryschool
 Some of the children of Indian/Asian and Jewish families start at an early age helping out in the
business. (Unconscious Competence – is being Developed)
3) Mentoring andCoaching
 Developaculture of Mentoring.Everybodyamentoror a coach. I am my brother’skeeper.
 The Jews do it. The whites, Afrikaners tend to do informal mentoring in the workplace.
4) Creativity
 Encourage and developcreativity.
 Entrepreneurssee aneed,definethe opportunityandjumpintoaddressit.
 Depression,worryisnota fertile groundforcreativity.We are entrepreneursbecausewe are
addressinganeed,notbecause we are out of options.
Quote – “Creativityisa natural extensionof our enthusiasm(orpassion)”
5) Passion
 Nurture Passion. We have tobelieve inwhatwe are doing.
 It iseasiertowork inthat for whichwe are passionate thanto create passionforthat forwhichwe
are tryingto work.
Quote – “Passionisenergy.It fuelsVisionandSuccess”
6) Support Structures
 We needtoprovide supportstructures.The entrepreneurial journeyisdifficulttowalkalone.
 The Family,the wife,friendorbrother.Mentors.
 Example. The Ethiopians Business Stokvel. Each contribute R1000 per month. When a fellow
Ethiopian countryman comes into country they give him a shoulder (soft loan and support) to start his
own business
The Jews - Money circulates 8 times within their community before it goes out.
7) Networking
 Networkingacceleratesthe pathtosolutions.We needtoenablenetworks.Theyalsosupport the
“brotherskeeper”framework
 Jews support each other act as referrals for each other’s business (sales agents).
8) Bottlenecks& RedTape - Find better mechanisms
 Needtofindsimplerandbettermechanisms.Easiertooperate inthe informal sectorthanthe
formal?
 Can endup deadinthe water or nevertake off.
 Example – Kedibone (Randfontein). Applied for financial support. Supplied business plan. 6 months
later Landlord reposed her goods. She closed shop. Feedback for application came 2 years later.
9) Fail Forward
Learn to fail forward.Teachpeople ata youngage how to deal withdisappointment,failureandhowto
getup quicklyandtry again.