[WATCH] Small businesses need tailored support to unlock growth - Youth Capital
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[WATCH] Small businesses need tailored support to unlock growth

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There are about 10.2 million young people (between the ages of 15-24) in Quarter 3 of 2022; of that group, 3 in 10 young people were not in employment, education or training. Even though the unemployment numbers decreased by 1%, young people recorded the highest unemployment rates; this means that a national and coordinated strategy is urgently required to tackle youth unemployment. In an interview with Newzroom Afrika, Youth Capital’s Project Lead Kristal Duncan William underlines the urgency of the situation.

The third decrease in the year is definitely a small victory to celebrate, but it’s a drop in the ocean. We haven’t even got back to pre-pandemic levels. Tackling youth unemployment starts before young people start looking for work; there are many systemic roadblocks that young people face along their journey of growing up, and we advocate for multiple support points.

Kristal Duncan-Williams

Recently, small businesses have been increasingly expected to put forward solutions by absorbing labour and growing the economy. While the potential is there, small, medium and micro enterprises (SMMEs) face several challenges, that are often unseen. Youth Capital’s latest report, Bridge the Gap. Finding the ‘right’ young hire, is a deep dive into the experiences that small businesses have, when looking for young hires.

The insights from the research show that small business owners struggle with finding young people who have the right skills; businesses are often time-constrained, and face difficulties hiring the candidate with the right skills and attitude; lastly, government-led incentives are difficult to navigate, and most businesses are not equipped to access them.

Kristal Duncan-Williams

Small businesses also offer young people exposure to learn the basics of running a business.

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