South Africa is home to many aspiring entrepreneurs and with the unemployment rate currently sitting at over 29%, it may just be the answer to South Africa’s shrinking economy. Starting a business is one of the popular New Year’s resolutions , here on #PhatJoeAndTheFamily we love profiling businesses hoping that will encourage you …..but what is the outlook for entrepreneurship in 2020?

According to a study by the  Seed Academy, key challenges for entrepreneurs include: inability to raise funds, finding customers, wearing too many hats, followed by lack of guidance, slow sales, customers paying late and unpredictability of business conditions. 22% of entrepreneurs have revenue of less than R10,000 per year and the majority of post revenue entrepreneurs (26%) have revenue between R50 – R100,000 per year

Guest: Matsi Modise, Founder Furaha Afrika and Vice Chairperson Simodisa ( An Association established as a powerful industry led initiative to specifically address – and determine – what can be done to overcome the barriers that SMEs and start-ups face)