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There are 582 million entrepreneurs in the world, and 62% of them don't employ any staff.
That's according to the Borgen Project, a think-tank in the US that's been studying entrepreneurship and unemployment around the world.
In Africa, it's even more of a problem, with the average African youth between the ages of 15 and 24 making up 37% of the working age population and 60% of the unemployed there, per the Borgen Project's blog.
The unemployment rate in South Africa and Nigeria, the continent's two largest economies, stood at 6.6% and 6.6% in 2020, respectively, per the Borgen Project blog.
But there's good news and bad news when it comes to entrepreneurship in Africa.
The good news is that there are more young people starting businesses in Africa than ever before.
And the bad news is that they're often unemployed.
The Guardian reports that in Nigeria, for instance, one in two youths are likely unemployed.
The good news is that young people are starting to see entrepreneurship as a "more sustainable tool for generating jobs" and "reducing the high level of unemployment in Africa," per the Borgen Project blog.
And the bad news is that many of these young people are
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