Entrepreneurship is defined as an activity that involves the discovery, evaluation, and exploitation of opportunities to introduce new goods and services, which have not existed (Mbhele, 2012 AU124: The in-text citation "Mbhele, 2012" is not in the reference list. Please correct the citation, add the reference to the list, or delete the citation. ). Therefore, in entrepreneurship, the entrepreneurs are exposed to new business that ascend in the face of risk and uncertainty.
Published in Chapter:
Addressing the Unemployed Graduate Challenge Through Student Entrepreneurship and Innovation in South Africa's Higher Education
Ndwakhulu Stephen Tshishonga (University of KwaZulu-Natal, South Africa)
Copyright: © 2022
|Pages: 21
DOI: 10.4018/978-1-7998-7724-0.ch008
Abstract
This chapter addresses graduate unemployment through student entrepreneurship in the context of South African higher education. The graduate unemployment rate of South Africa is estimated at 33.5% for the youth (15–24) and 10.2% for those aged 25–34. Unemployed graduate phenomenon as depicted by the FeesMustFall campaign is exacerbated by untransformed curriculum which does not provide students with the relevant skills to match the labour demands. In this regard, this chapter argues that student entrepreneurship remains one of the strategies university-based youth or students could not only a space to gain business skills and experience, but also a forum where they can put their creative ideas into income generating projects. The chapter first looks at student entrepreneurship and the challenges faced by tertiary students. Second, it explores the opportunities created through entrepreneurship, the challenges faced by student entrepreneurs, and finally, the support needed to run successful student entrepreneurship.