DON’T let fear stop you starting a business.
With unemployment rising rapidly, starting a business is a critical necessity.
David Morobe, regional general manager at Business Partners Limited, told SunMoney that according to the 2017/2018 Global Entrepreneurship Monitor Report there is a need for more Mzansi people to take the leap into entrepreneurship.
“According to the report: while 69% of South Africans think entrepreneurship to be a good career choice, only 11% have make the move to become entrepreneurs.”
But the top reasons Mzansi people do not put their ideas into action is among others, lack of funding (46%), a lack of confidence (16%), and the struggle to come up with a good idea (16%). Not having enough time to start a business (15%), and the fear of losing steady income (14%) also contribute.
Facing the fears
Lack of funding: The lack of funding is a tough obstacle but there are many people eager to invest in an innovative business.
Other funding methods include crowdfunding or internet business.
Lack of confidence: “Courage is not the absence of fear but the ability to persist in spite of it.”
Entrepreneurs must understand that failure is a risk in every venture.
No original ideas: You don’t need an amazing new idea for a business when your business can improve an old one.
Not enough time: You cannot plan to do everything at once. Finish one small part before starting the next. Keep at it.
Fear of losing steady income: Sacrificing your reliable salary is a legitimate fear. Start your business on the side and when the increased income matches the time you spend on it, you can leave your current job.
