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Endeavor SA has made significant strides in advancing the country's economic and social development, and continues to transform South Africa through the gold standard of High-Impact Entrepreneurship.
South Africa has an estimated 49 million citizens, 88% of whom are black. The legacy of racial inequality under the former Apartheid government and the difference in size of the black and white populations have led to government-implemented economic policies to encourage emerging black-owned businesses to correct the uneven distribution of wealth and income.
Extreme levels of income inequality, poverty, and unemployment continue to characterize the country. With a national unemployment rate of over 24%, social problems such as HIV/AIDS, poor service delivery and persistent crime are reinforcing barriers for enterprise development. Overall, the country’s financial and operating environment is not very supportive of entrepreneurs, particularly in terms of regulations, policies, and access to capital.
Following the worldwide recession in late 2008, South Africa’s Total Entrepreneurial Activity (TEA) dropped from 7.8% to just over 5%.
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