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ENTREPRENEURSHIP AND GIG WORK: EMPLOYMENT IN THE NEW ECONOMY Digital disruption is forging a new world of work in which “self-starters” with the right skills can thrive. DATA released by Statistics South Africa at the end of last year showed that 45% of young people under 34 years or age were not in employment, education or training. Globally, we are experiencing the “double disruption” of the economic impact of the pandemic and the increasing automation of jobs. The World Economic Forum (WEF) estimates that by 2025, 85 million jobs worldwide may have been displaced by technological disruption. However, as many as 97 million new jobs may emerge. Massive youth unemployment remains a critical challenge for South
Africa. However, technological disruption provides an opportunity to upskill and reskill young people to orientate them towards new opportunities to earn a living. In light of the rising levels of unemployment among young South Africans, the UK-South Africa Tech Hub Launch League initiative undertook a research project to survey over 40 South African hubs, skills and entrepreneurial training organisations to understand how they are equipping young South Africans to become economically active. According to the report – Skills and Training offered by South Africa’s Hub Network: How can South African hubs
train and support young South Africans to earn an income in the New Economy? – hubs, incubators, digital skills trainers and entrepreneur support organisations play a critical role in preparing people for the “New Economy”. The New Economy is described as an economy that is producing or intensely using innovative or new technologies. It is largely service orientated and characterised by increased entrepreneurship and gigbased employment. By focusing on teaching skills in entrepreneurship, digital technology and gig work, training organisations can help young people
