By Anton Van Heerden, EVP and Managing Director, Sage South and Southern Africa
Young entrepreneurs are building the future of our country. That future will be shaped, to some extent, by their values, priorities and characteristics.
That’s why I was interested to see the results of Sage’s new Walk With Me report and the picture it paints of millennial entrepreneurs in South Africa.
Some of the most interesting local findings on South African young entrepreneurs include:
- 78% say they would sacrifice profit to stay true to their values
- 80% see doing social good as a high priority
- 52% make time to socialise with their team at least once a week, with 23% committing to every fortnight
- 57% say Facebook is their preferred channel for brands to communicate with them, followed by personalised emails at 34%
- 29% started a business to be a master of their own destiny, followed by 21% to make money, and 21% to turn an idea into a reality.
The report, which examines the attitudes and behaviours of young entrepreneurs around the world shows that they are optimistic and put in the hours, but want flexibility over when, where and with whom they do business. They are determined to surround themselves with people who share their values and ambitions. And, they are especially good at using technology to overcome obstacles, using mobile tools to work remotely, stay in contact with co-workers, and run their business.
This generation is serious about maintaining their work/life balance, making investments in philanthropy and staying true to their personal values.
Entrepreneurs who understand the ‘giving economy’
Sage’s research showed that millennial entrepreneurs are far more focused on creating businesses that ‘give back’ to local communities and the world. At the recent Sage Summit in Chicago, the largest event for small and medium businesses in the world, I heard Zooey Deschanel and Gwyneth Paltrow speak about the ‘Giving Economy’ and the idea that today’s consumer want more than products that will better their lives – they want to support companies that are socially conscious.
For big, established companies, this is also an important insight into how they can inspire their employees as well as their customers by having a positive influence on the community they serve.
Let’s help them fly
This generation of entrepreneurs has grown up with the technology at their fingertips to make processes efficient and allow instant access to real-time information. They are therefore less accepting of outdated practices that slow things down and hold them back.
We know it takes blood, sweat and tears to turn a dream business idea into a fully-fledged reality. So, young South African entrepreneurs who are already time poor shouldn’t have to battle against practices created in an outdated business world
Established businesses that want to work with young entrepreneurs or hire them need to think about how to support them with personalised, instant, friendly experiences. In a world where only the voices of the biggest are heard, we must fight to hear the voice of the young entrepreneur. Let’s help them to really fly.
Young entrepreneurs are building the future of our country. That future will be shaped, to some extent, by their values, priorities and characteristics.
That’s why I was interested to see the results of Sage’s new Walk With Me report and the picture it paints of millennial entrepreneurs in South Africa.
Some of the most interesting local findings on South African young entrepreneurs include:
- 78% say they would sacrifice profit to stay true to their values
- 80% see doing social good as a high priority
- 52% make time to socialise with their team at least once a week, with 23% committing to every fortnight
- 57% say Facebook is their preferred channel for brands to communicate with them, followed by personalised emails at 34%
- 29% started a business to be a master of their own destiny, followed by 21% to make money, and 21% to turn an idea into a reality.
The report, which examines the attitudes and behaviours of young entrepreneurs around the world shows that they are optimistic and put in the hours, but want flexibility over when, where and with whom they do business. They are determined to surround themselves with people who share their values and ambitions. And, they are especially good at using technology to overcome obstacles, using mobile tools to work remotely, stay in contact with co-workers, and run their business.
This generation is serious about maintaining their work/life balance, making investments in philanthropy and staying true to their personal values.
Entrepreneurs who understand the ‘giving economy’
Sage’s research showed that millennial entrepreneurs are far more focused on creating businesses that ‘give back’ to local communities and the world. At the recent Sage Summit in Chicago, the largest event for small and medium businesses in the world, I heard Zooey Deschanel and Gwyneth Paltrow speak about the ‘Giving Economy’ and the idea that today’s consumer want more than products that will better their lives – they want to support companies that are socially conscious.
For big, established companies, this is also an important insight into how they can inspire their employees as well as their customers by having a positive influence on the community they serve.
Let’s help them fly
This generation of entrepreneurs has grown up with the technology at their fingertips to make processes efficient and allow instant access to real-time information. They are therefore less accepting of outdated practices that slow things down and hold them back.
We know it takes blood, sweat and tears to turn a dream business idea into a fully-fledged reality. So, young South African entrepreneurs who are already time poor shouldn’t have to battle against practices created in an outdated business world
Established businesses that want to work with young entrepreneurs or hire them need to think about how to support them with personalised, instant, friendly experiences. In a world where only the voices of the biggest are heard, we must fight to hear the voice of the young entrepreneur. Let’s help them to really fly.