Metropolitan ramps up non-financial support for young entrepreneurs

Source: Pexels

According to the University of the Western Cape, seven out of ten small businesses fail within five years. Youth unemployment remains elevated at 46%, based on the latest Statistics South Africa data.

Research from the 2023 Global Entrepreneurship Monitor shows total early-stage entrepreneurial activity among 18- to 34-year-olds at 9.2%.

Metropolitan’s programme targets young people running small or informal businesses, a group often not reached by formal support systems.

The initiative offers non-financial assistance, including mentorship, business coaching, leadership development, market access opportunities and national exposure. It also includes personal development elements such as mental health and resilience training.

Speaking at the launch of the programme’s fourth edition, entrepreneurship practitioner Chimene Chetty said young founders must learn how to acquire knowledge and build self-belief, which she described as essential to business success.

Past participant Thabiso Mhlongo, founder of Epicure Bitez in Atteridgeville, said the programme provided operational and emotional support during the early stages of his business.

Momentum Group youth employment portfolio head Nkosinathi Mahlangu said market access remains a crucial factor for long-term sustainability.

As part of its model, Metropolitan includes qualifying former participants in its internal supply chain to help grow their businesses. The programme is funded through Metropolitan’s broader client base.