Tag: unemployment

As the coronavirus sweeps its way around the globe, the trends established in most countries in terms of taming its spread after lockdown appears similar to that set in China. While it might take somewhat longer for some of those countries that started their control measures later, the outlook seems positive and the trend is definitely moving in the right direction.

Currently we all speak from a position of absolute ignorance. No one can truly know what the outcome of this pandemic will be, nor when the virus will pass or if it will ever be defeated. Even if a vaccine is developed in the next few months it’s clear that we will forever mark this moment as one of seismic significance. From now on we will talk of pre or post COVID-19. 

At a time when many small businesses in South Africa are already struggling as a result of the recession, the global COVID-19 crisis is a bolt out of the blue. It is an event that has caught even the best prepared businesses by surprise, and it is a genuine existential threat for many of the small businesses we deal with in our daily lives.

Growth of the entrepreneurial sector is key to addressing South Africa’s unemployment crisis, especially amongst the youth. Young people, however, face many barriers to success. Amongst these is a dire lack of digital literacy and access to internet and data.

“How does Artificial Intelligence (AI) impact our world of work?” the editor asked. “Will the world see massive unemployment from the 4th Industrial Revolution (4IR) underpinned by AI, smart robots and all the new computing power and even smarter programming the world has today?”

As we enter a new decade, CEOs are showing record levels of pessimism in the global economy, with 53% predicting a decline in the rate of economic growth in 2020. This is up from 29% in 2019 and just 5% in 2018 – the highest level of pessimism since we started asking this question in 2012.

SMMEs play a fundamental role in the growth of a country’s economy. For South Africa, small and medium enterprises contribute significantly to the overall GDP and have continued to be in the front-lines of combating one of the biggest socio-economic challenges that affects the country; namely unemployment.

The 4th Industrial Revolution (4IR) is underway and it is shaping up some of the most significant opportunities and challenges of our lifetime. The surging high-tech, sharing economy is transforming jobs, policies, industries and entire economies as we witness our digital and physical worlds continue to merge.

We have unveiled the State of Entrepreneurship in South Africa after surveying more than 1,000 entrepreneurs across the country. 2019 marks our fifth year of engagement with local entrepreneurs, with the latest findings showing that entrepreneurs are optimistic and resourceful even as the sector is enduring one of the most difficult economic periods.

In Start with the End in Mind, Jamal will lead you on a journey of self-discovery into you, the people around you, the mindset you bring to life and business, and how your preconceived ideas about leadership, fulfilment, expectation and responsibility can derail your dreams.