A recent survey reveals that many African business students prefer to be entrepreneurs and self-employed.
The Association of Business Executivesâ€™ Entrepreneurship in Africa report found 72% of its more than 13000 students across Africa would choose to be their own boss, compared with 28% who would like to be employed. And 93% would like to â€śbe the boss of other peopleâ€ť.
Jonathan Swindell, head of business development and publishing at Association of Business Executives, said the students also recognized the continentâ€™s role on the international business stage, with the largest number having their eyes firmly set on trade with the European Union.
â€śThe results clearly show the level of entrepreneurial enthusiasm across Africa, buoyed by the studentsâ€™ confidence in the continentâ€™s recent economic success,â€ť Swindell said.
â€śMore than half the entrepreneurs polled believe that Africaâ€™s current boom will last at least another 10 years.â€ť
But there were barriers to taking advantage of booming business: 37% of respondents said getting finance and business banking services was the biggest hurdle, followed by a lack of skills (22%) and a non-entrepreneurial culture (16%).
Corruption, crime, education and the health system have been identified as the biggest challenges facing small businesses, which has seen the country left behind in terms of entrepreneurial activity.
â€śThese four challenges, unless resolved, will continue to debilitate this countryâ€™s capacity to develop and support small business owners, and may in fact negate some of the positive initiatives which are taking place, rendering them a complete waste of time and money,â€ť reads the report.
Read more: CP-Africa