Entrepreneurship Feature: Risk is part of the formula for entrepreneurial success – so is the right financial advice.

Many South Africans become entrepreneurs simply because they have to, not because they are following their natural ambitions and it’s a nerve-wracking journey for most. However, in a country like South Africa — which is plagued by low economic growth prospects and a stubbornly high unemployment rate — many pursue entrepreneurship just to survive. When statistics show that more than 70% of small business fail in the first two years – it’s confirmation that starting a business is itself a risky act. It is not surprising, then, when you review the literature around entrepreneurship that risk-tolerance is defined as one of the key traits for a successful entrepreneur. So, Nkosinathi Mahlangu, Youth Employment Portfolio Head, Momentum Metropolitan Holdings, joins to talk about the significance of entrepreneurship and other challenges that entrepreneurs face in this landscape that is under-resourced and lacks adequate support structures. See omnystudio.com/listener for privacy information.