Since 2008 South Africa has lost one million jobs. These jobs are not being replaced in the traditional private sector and South Africa is likely to lose more jobs from traditional employers in the next five years, says IQ Business CEO Adam Craker. “While the public sector attempts to create employment opportunities, most of the sustainable employment growth opportunities of the future will need to come from medium-sized enterprises founded by entrepreneurs and intrapreneurs (those with a flair for creating businesses within a corporate environment) in South Africa,” he says.
“Consultants and advisors play an important role in the development of entrepreneurs and intrapreneurs in the country. Their role ranges from being a sounding board for ideas and providing advice and guidance through to practical hands-on involvement. Most often consultants and advisors help in translating the entrepreneur’s business idea into practical steps, supported by a business plan, either prior to starting the business, or to raise capital for further growth of an existing business,” says Craker
“An entrepreneur is a unique individual that possesses the attributes of a clear vision with attention to detail and the energy and passion to realise that vision, an appetite for risk with a balance of realism, and a desire to innovate and learn,” says Craker. “These unique individuals need the help, support, advice and counsel of consultants and advisors to guide them to the realisation of their goals and vision. Our country’s economic future depends on us nurturing entrepreneurs and so we need to do all we can to help them succeed.
“Relative to other countries, South Africa can do more to support and develop entrepreneurs. Most of the support for local entrepreneurs currently comes from within the entrepreneur community itself – with those starting out supporting each other, backed up by successful entrepreneurs that nurture talent and give back to help others,” he explains.
IQ Business has decided to do more to support local entrepreneurs and has formed a ventures division that sits alongside its core Management Consulting business. IQ Ventures provides a nursery for entrepreneurs to develop their business idea, utilising IQ Business consultants and resources to accelerate their business. “Instead of charging the normal professional fees for consulting and advisory services, IQ often becomes a long-term business partner in the new venture and exchanges value by taking an equity stake in the business over time,” concludes Craker.
Visit www.iqgroup.co.za for more information.