Africa.com Business / July 30, 2021 July 29, 2021 / 4 minutes of reading The Global Entrepreneurship Monitor (GEM) found that South Africa has one of the highest business start-up failure rates in the world. In the GEM National Entrepreneurship Context Index (the NECI Index), South Africa ranks 49th out of 54 countries, ahead of only Croatia, Guatemala, Paraguay, Puerto Rico, and Iran. “Often, people think that the number one thing an entrepreneur needs is a winning idea,” says Dr. Antje Hargarter, Head of STADIO School of Commerce. “While it is important to have a viable idea, the key to success is being able to turn the idea into a sustainable and profitable business. That requires skills ranging from basic business administration and financial management to project management and marketing, among others.”