As the calendar turns to November, the country will soon turn its attention to National Entrepreneurship Month, a time to recognise the vital role entrepreneurs play in driving innovation, economic growth, and job creation.
In South Africa, where the unemployment rate hovers at a staggering 32.9%, highlighting entrepreneurship is more critical than ever.
With traditional job markets constrained, nurturing entrepreneurial spirit is essential for empowering individuals, particularly women, who are significantly underrepresented in leadership roles.
The numbers tell a troubling story. Only 10% of Fortune 500 companies are led by women, and in South Africa, women hold just 26.5% of top management positions.
This stark reality underscores the need for initiatives that support and promote female entrepreneurship.
Despite their economic influence — women are responsible for 70% to 80% of consumer purchases globally — they continue to face substantial barriers in both the business world and decision-making roles.
This November, a beacon of hope will shine brightly in Cape Town with the inaugural WomenIN (WiN) Festival, a groundbreaking conference dedicated to addressing the challenges faced by women entrepreneurs and professionals.
Organised by Nazlee Fredericks, founder of Women IN Portfolio, the festival aims to foster collaboration, empowerment, and support across various sectors.
“The WiN Festival was born out of a passion for uniting women across industries and tackling shared challenges,” said Fredericks. “We believe that by providing women with the right tools, confidence, and community access, we can help them break barriers and thrive in their fields.”
The two-day festival, which will take place on November 14 and 15 at the Silo District, will feature transformative leadership sessions, practical workshops, immersive site visits, and unparalleled networking opportunities.
Attendees will gain insights from industry leaders and successful entrepreneurs, helping them to cultivate the skills necessary for sustainable impact in their communities.
In South Africa, where many families depend on the income generated by small businesses, encouraging entrepreneurship among women is not just an economic imperative; it’s a pathway to social change.
Women who own businesses contribute to community stability and economic growth, creating jobs and opportunities for others. However, they often face obstacles such as lack of access to funding, mentorship, and support networks.
The WiN Festival seeks to address these challenges head-on. By bringing together women from diverse sectors, the event will create a collaborative environment that promotes knowledge-sharing and innovation.
“We’re excited to create a space where women can connect, learn from one another, and inspire each other to pursue their entrepreneurial dreams,” Fredericks added.
The significance of National Entrepreneurship Month cannot be overstated, particularly in a country like South Africa, where entrepreneurship is often viewed as the last frontier in the battle against unemployment.
As the government and private sector continue to look for solutions to uplift the economy, investing in women-led businesses can yield powerful dividends. Research shows that gender-diverse teams are more innovative and financially successful.
Weighing in on the importance of Entrepreneurship Month, Lindi Mokgoatlhe, an independent economic analyst, said there is always a chance for players in the entrepreneurship space to uplift communities.
“Celebrating National Entrepreneurship Month alongside the WiN Festival sends a strong message about the importance of inclusive economic growth. It emphasises the need for policies that not only encourage entrepreneurship but also support women in overcoming the barriers they face.
“As South Africa grapples with high unemployment rates, fostering an environment where women can thrive as entrepreneurs is crucial. Initiatives such as this stand as a testament to what can be achieved when women come together to support one another, breaking down barriers and creating a brighter future for themselves and their communities,” she said.
According to Fredericks, she said this November, they look to shine a spotlight on entrepreneurship, and a light on the incredible potential of women in business.
“Their empowerment is not just beneficial for them but essential for the growth and stability of our economy. The upcoming festival is not just a conference; it’s a movement toward a more equitable and prosperous South Africa,” she said.
To attend the two-day WiN festival, early bird registration is available with tickets starting at R1 999. For more information and to register, visit WomenIN Festival Tickets.
The Star