United Nations Development Programme Economist, Senny Obuseng highlighted that for the country to improve its business environment and nurture entrepreneurship, business regulations must be eliminated. "The regulatory constraints on business must be torn down. Business regulations should be reviewed and rationalised to suit business people rather than bureaucrats," he said.
He also pointed out that entrepreneurship must be separated from capital: "Money is not equal to entrepreneurship; the capital requirements for entrepreneurs serve no useful purpose and are simply barriers to entry," said Obuseng. At the Southern African Customs Union (SACU) industrial policy briefing this year, business owners voiced their concerns over the many business regulations in existence.
Boitshepo Bolele, Youth Financial Advisor said the youth are the major victims of poverty because they do not have assets. She pointed out that youth entrepreneurship is limited by the reactions of regulators to their business proposals: "In most circumstances, youth business proposals are trashed just because they don't have assets to use as security even though their value chain will be good."
