Abstract:
Entrepreneurship has become the backbone of every economy in the modern era; essential for employment creation, revamping national economic performance and generating wealth. Despite it being taught in tertiary institutions and trained in vocational institutions, studies show that entrepreneurship is not achieving its full potential in contributing to economies especially in rural settings. It needs to be fostered and nurtured in sociocultural perspectives to maximise its contribution towards the economy of South Africa. The aim of the study was to establish the importance of sociocultural factors in the development of entrepreneurship in rural settings of South Africa. The study area was Thohoyandou Central Business District, Tshaulu, Tshilamba and Khubvi in Thulamela Local Municipality, Limpopo Province, South Africa. A mixed method approach was used, combining both quantitative and qualitative data collection methods to better understand the relationship between entrepreneurship development and sociocultural dimensions involved and address the research objectives. The sample for this study comprised of 100 entrepreneurial initiatives in Thulamela Local Municipality, Limpopo Province, South Africa. The researcher used a stratified purposive sampling technique, where questionnaires with both open and closed ended questions was administered as the instrument for data collection. Predictive Analytics Software (PASW) version 25, formerly known as SPSS was used for quantitative data analysis and Thematic Content Analysis was employed to analyse qualitative data.
The findings indicated social impedances, lack of confidence in the services offered, gender discrimination, role models and the support system as key influencers of entrepreneurship advancement. The study also showed that culture contributes to entrepreneurship development in Thulamela Local Municipality through aspects such as resistance, traditional beliefs and looking down upon others. The study also established that entrepreneurship is considered as better than conventional day-to-day jobs because of its ability to give financial stability to individuals and consolidate and empower the community. The researcher recommended that the following factors be considered: market expansion, funding, training and skills development, community development, teaching entrepreneurship in communities and internal business adjustments.
