Cabinet has approved the publication of the draft National Entrepreneurship Strategy (NES) and Implementation Plan for public comment, signalling a renewed attempt to strengthen South Africa’s small business sector.

In its statement, government said the strategy “aims to promote participation of young people and historically disadvantaged businesses in the economy by incentivising entrepreneurship and ensuring the sustainability of micro, small, and medium enterprises (MSMEs).”

The NES outlines five key pillars to underpin its approach: enhancing entrepreneurship education and skills, facilitating technology and innovation exchange, improving access to finance and markets, optimising the regulatory environment, and promoting awareness and networking.

Officials stressed that the framework seeks to expand formal economic participation, tackle high youth unemployment by promoting youth-led enterprises, and better align the efforts of government departments and strategic partners. The plan also proposes embedding entrepreneurship in the school curriculum as part of a broader effort to shift the country’s culture towards innovation and risk-taking.