Abstract:
Black Economic Empowerment is a strategy aimed at substantially increasing meaningful Black participation at all levels in the South African economy. South Africa is characterised by remarkably low levels of entrepreneurship. As entrepreneurship is associated with wealth generation and job creation, increased entrepreneurial activity can contribute significantly to address unemployment and societal inequalities. This study explores the relationship between Black Economic Empowerment and entrepreneurship in South Africa in an attempt to investigate whether Black Economic Empowerment promotes entrepreneurship. A qualitative approach was adopted to gain insights into the lived experiences of Black Business Leaders and Black Entrepreneurs through a phenomenological analysis of the data. Data was also collected from Experts, in an attempt to strengthen the findings and validity of the study through triangulation. Research instruments included open-ended questionnaires to ascertain the views of Experts and face-to-face, in-depth interviews to promote storytelling by Black Business Leaders and Black Entrepreneurs. The results revealed that Black people are entrepreneurial in nature. Black people are motivated to pursue entrepreneurial opportunities by, inter alia, financial reasons, their contribution to society and the creation of wealth in order to leave a legacy. It is evident that Black Economic Empowerment can develop Black entrepreneurs, Black Businesses and Black intrapreneurs. A diagrammatic presentation of the relationship between Black Economic Empowerment and entrepreneurship is proposed that depicts the key linkages established by the findings from this study.
