The report also revealed that over half of South African entrepreneurs have experienced failure in their business. However, despite this and the reported challenges, the outlook of participants was overwhelming positive, with almost 70% reporting a very or somewhat optimistic outlook on the upcoming twelve months.

A significant increase was recorded in the number of social enterprises. Social entrepreneurship jumped 10% between the 2017 and 2018 report data.

The full report can be downloaded on the Seed Academy website.