Activity 2 Entrepreneurship Essay

ACTIVITY 2 - ENTREPRENEURSHIP

2.1 Explain the term "unemployment". (3)

Unemployment may be defined as a circumstance where a person of working age would prefer having a full-time job, but is unable to find any employment.The government defines those who want to work as people who have been trying to finda jobin the last monthand are available to start within the next two weeks as well as those waiting to start a job they have already obtained. The governmentcalculates the number of people presently unemployed via a monthly survey known as the "Current Population Survey."The results areshown as a percentage and are calculated by dividing the number of unemployed people by the total work force. There may be many reasons for unemployment

2.3 Explain FOUR strategies to overcome unemployment (4x2)

• The encouragement of the informal economy. An informal job can assist unemployed people with some sort of income, example, a piece job such as washing cars.

• A part-time job where someone works only a few hours a week, such as babysitting.

• The transfer of skills and job preparation for those who have the skills but are unemployed because of a lack of experience.

• To provide career training for fresh out of school students / varsity graduates and unemployed people without any skills. The development of skills to provide the necessary skilled labour to make sure that the economy is not stifled by a skills shortage.

• It is critical to change the minds of South Africa’s people to become entrepreneurial so that we have more people creating jobs in South Africa.

• The government should make funding available to

• The economy will grow with regards to the capital being made in the country by making a profit and paying taxes

• The health of the economy will increase as there will be less unemployed people which will cause the unemployment rate to decrease.

• Entrepreneurship will create job opportunities which means more people will pay taxes thereby reducing the number of people that require government grants.

• Entrepreneurship provides the platform for creative and determined people to utilise their talents and skills for their own benefit and that of the society.

2.5 Interview an entrepreneur (someone who has their own business / is self-employed in your community or that you know. Collect information and then write a short essay in which you explain:

• Background of what they do (2x2)

• The challenges that entrepreneurs face (2x2)

• TWO entrepreneurial traits that help them succeed. (2x2)

ECP Sheetmetal (Pty) Limited is a proudly South African company that was established in1985. ECP specialises in a large range of sheetmetal fabrications manufactured to each customer 's specific needs. The company takes pride in providing quality and excellent service at competitive