Latest news with #CollectiveShapers
The Citizen
10 hours ago
- Business
- The Citizen
Entrepreneurship a solution to youth unemployment – but there are challenges
The creative economy is thriving, with content creators, designers and beauty professionals making their mark. With nearly half of South Africa's youth struggling to find traditional jobs, entrepreneurship is a viable alternative. FNB says the crisis faced by the youth needs innovative solutions, not just job creation. Youth entrepreneurship is a sustainable catalyst for job creation and economic growth. Janis Robson, Head of Business Development at FNB, notes that the youth are increasingly turning to entrepreneurship as a deliberate and empowered choice to build their futures. Side hustles and formal businesses Robson adds that more than 35% of the businesses that bank with them with a turnover of less than R5 million are comprised of young entrepreneurs aged 18 to 35. 'There are a mix of skilled professionals, graduates, and those without formal qualifications, many of whom are running side hustles or growing formal businesses.' She says trends indicate that the largest share of youth-led businesses falls into business and administrative services, followed by community services, retail, construction and transport. Additionally, the creative economy is thriving, with content creators, designers and beauty professionals making their mark, particularly in metro areas. 'Youth are also increasingly leveraging technology to develop scalable solutions that address local challenges.' ALSO READ: Political events happening in June expected to affect South African SMEs Entrepreneurship challenges faced by youth Robson notes that opportunities are growing, but young entrepreneurs are still faced with significant challenges. One of the biggest challenges is access to funding, followed by gaps in industry-specific skills and general business knowledge. 'Safety concerns, crime, and credibility issues, especially among young women, also limit business growth. 'Many also struggle with financial literacy, which can lead to early business closures. Some start ventures while job-hunting, only to abandon them when formal employment becomes available.' Mental health in entrepreneurship Phumla Mavundla, Head of Marketing at Metropolitan, has highlighted the need for entrepreneur programmes to also focus on mental health. By placing mental wellness at the core of entrepreneurship, the initiative is breaking new ground and making a bold shift in a space where emotional resilience is often overlooked. She stresses that entrepreneurs frequently encounter significant pressures, from financial challenges to societal expectations, and when these stresses go unaddressed, they can lead to anxiety, burnout, and ultimately, business failure. It was noticed through one of their programmes, the Metropolitan's Collective Shapers (MCS), that funding alone is not enough; entrepreneurs also need resilience, emotional support, clarity, and strong financial literacy to succeed. ALSO READ: 4 business pitch mistakes that could be costing you investors — and how to avoid them Funding is not everything Mavundla added that too many programmes assume that if we give entrepreneurs capital, they will thrive. However, no amount of funding can compensate for burnout and poor financial decision-making under stress or isolation. Entrepreneurs need programmes that help them build resilience, emotional agility, and long-term strategic clarity. 'The future of entrepreneurship depends not just on bright ideas, but on healthy, resilient minds capable of executing them.' NOW READ: Report reveals there is no lack of funding for small businesses – here's the problem
The Star
20-05-2025
- Business
- The Star
How Metropolitan's Collective Shapers programme is redefining entrepreneurship for young South Africans
As South Africa faces a deepening youth unemployment crisis, entrepreneurship has become a beacon of possibility. But Metropolitan's Collective Shapers (MCS) programme is proving that capital alone isn't enough. By putting mindset, mental health, and financial literacy at the core, the programme is reshaping what it means to truly empower young entrepreneurs. The MCS programme recognises that a healthy mind is just as vital as a solid business pitch. According to a report by UNICEF South Africa, 60% of young people are in need of mental health support. By placing mental wellness at the core of entrepreneurship, the initiative is breaking new ground, making a bold shift in a space where emotional resilience is too often overlooked. Phumla Mavundla, Head of Marketing at Metropolitan, explains that the MCS programme goes beyond funding by adopting a holistic approach to nurturing young entrepreneurs. 'The MCS programme is not just one that provides financial assistance, but provides a holistic approach to entrepreneurship.' She added that entrepreneurs frequently encounter significant pressures, from financial challenges to societal expectations, and when these stresses go unaddressed, they can lead to anxiety, burnout, and ultimately, business failure. 'Supporting the mind behind the mission is not just good ethics, it's good business. That's why Metropolitan deliberately includes mental health support as a key pillar of our MCS programme,' Mavundla added. She reiterated that funding alone isn't enough, entrepreneurs also need resilience, emotional support, clarity, and strong financial literacy to succeed. 'Too many programmes assume that if we give entrepreneurs capital, they'll thrive. But no amount of funding can make up for burnout and poor financial decision-making under stress or isolation. Entrepreneurs need programmes that help them build resilience, emotional agility and long-term strategic clarity. 'The future of entrepreneurship depends not just on bright ideas, but on healthy, resilient minds capable of executing them. As part of MCS, we noticed the need for young entrepreneurs to get emotional and financial literacy support, as some of the tools to enable them to navigate through the challenges that come along their journey,' said Mavundla. She added that the programme equips young entrepreneurs with mental health support, tailored training, networks, and seed funding for sustainable growth. 'Our bespoke programme offers young entrepreneurs accredited mental health support, sector-specific modular programmes, networking and market access opportunities, and a small cash injection into their business to support growth and long-term sustainability,' Mavundla said. Psychologist Dr. Tshepiso Matentjie points out that young entrepreneurs often fixate on their failures, expending more energy on what went wrong than on bouncing back and growing. Without the tools to develop mental awareness, the ability to consciously manage their thoughts, many promising entrepreneurs get caught in persistent cycles of fear and self-doubt. She stresses that mental health support must be a core part of entrepreneurship programmes, not just an add-on. Through coaching, peer networks, workshops, and resource access, these initiatives help young entrepreneurs build lasting businesses while maintaining their well-being. The MCS underscores that while many programmes chase quick wins like pitch contests and one-off mentorship, Metropolitan is committed to a long-term, holistic, and youth-centred approach. This is vital in a country where unemployment soars at 31.9%, forcing countless young people to turn to entrepreneurship not out of choice, but out of necessity. The Star [email protected]
IOL News
20-05-2025
- Business
- IOL News
How Metropolitan's Collective Shapers programme is redefining entrepreneurship for young South Africans
As South Africa faces a deepening youth unemployment crisis, entrepreneurship has become a beacon of possibility. But Metropolitan's Collective Shapers (MCS) programme is proving that capital alone isn't enough. By putting mindset, mental health, and financial literacy at the core, the programme is reshaping what it means to truly empower young entrepreneurs. The MCS programme recognises that a healthy mind is just as vital as a solid business pitch. According to a report by UNICEF South Africa, 60% of young people are in need of mental health support. By placing mental wellness at the core of entrepreneurship, the initiative is breaking new ground, making a bold shift in a space where emotional resilience is too often overlooked. Phumla Mavundla, Head of Marketing at Metropolitan, explains that the MCS programme goes beyond funding by adopting a holistic approach to nurturing young entrepreneurs. 'The MCS programme is not just one that provides financial assistance, but provides a holistic approach to entrepreneurship.' She added that entrepreneurs frequently encounter significant pressures, from financial challenges to societal expectations, and when these stresses go unaddressed, they can lead to anxiety, burnout, and ultimately, business failure. 'Supporting the mind behind the mission is not just good ethics, it's good business. That's why Metropolitan deliberately includes mental health support as a key pillar of our MCS programme,' Mavundla added. She reiterated that funding alone isn't enough, entrepreneurs also need resilience, emotional support, clarity, and strong financial literacy to succeed. 'Too many programmes assume that if we give entrepreneurs capital, they'll thrive. But no amount of funding can make up for burnout and poor financial decision-making under stress or isolation. Entrepreneurs need programmes that help them build resilience, emotional agility and long-term strategic clarity. 'The future of entrepreneurship depends not just on bright ideas, but on healthy, resilient minds capable of executing them. As part of MCS, we noticed the need for young entrepreneurs to get emotional and financial literacy support, as some of the tools to enable them to navigate through the challenges that come along their journey,' said Mavundla. She added that the programme equips young entrepreneurs with mental health support, tailored training, networks, and seed funding for sustainable growth. 'Our bespoke programme offers young entrepreneurs accredited mental health support, sector-specific modular programmes, networking and market access opportunities, and a small cash injection into their business to support growth and long-term sustainability,' Mavundla said. Psychologist Dr. Tshepiso Matentjie points out that young entrepreneurs often fixate on their failures, expending more energy on what went wrong than on bouncing back and growing. Without the tools to develop mental awareness, the ability to consciously manage their thoughts, many promising entrepreneurs get caught in persistent cycles of fear and self-doubt.
