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SMEs - are youths cut out for entrepreneurship
While nothing is ever cut and dried, and generalisations often result in a face full of egg, one must consult existing research to look for answers. The research I have seen, when looking at critical success factors for SMEs, provides a strong bias in favour of those people with experience in business and separately experience in management.
Therefore, one must question the likelihood of success for unemployed youths being provided with finance to start a business. While there are exceptions to the rule, it is hardly likely that these people will succeed as they are missing so many of the critical success factors associated with SME success.
The question is whether this is a plan of action based upon misinformation, or whether it is a plan of action that is merely intended to divert attention away from government non-delivery, in other words a government decoy.
My personal experience wth these youth is that they are clueless. Their business plans which they do not understand, are written by consultants, their organisational structure does not show any work being done by the owners, rather by managers. Their organisational structures reflect way "too many chiefs and nowhere near enough indians". They honestly believe that they will simply sit at home and wait for the profits to roll in.
Entrepreneurs they are not! Let us look to other solutions as this solution is merely a waste of money.
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SMEs and entrepreneurs in Africa
By Dr. Rob Smorfitt
About the Author: Dr. Rob Smorfitt
RSS for Dr. Rob's articles - Visit Dr. Rob's website
Have an MBA and a PhD in entrepreneurship. Three key areas of ongoing research are entrepreneurship and innovation in large business strategy, the impact of legislation on SME development and SME finance. Run my own SME blog at http://sme-smb-smme.blogspot.com as well as an entrepreneurship and innovation for large businesses blog at http://innoveur.blogspot.com. I have been self-employed since 1982. I have started or purchased in excess of 50 businesses since then. Most were sold again and a few were shut down because of a lack of profitability. Many were run by staff or family while I worked full time in my bigger businesses. Author of 6 books. Written articles for various magazines, newspapers and websites. Experienced in research within developing countries.
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