Each year, around Youth Day on 16 June, South Africans celebrate the innovation, energy and determination of the country’s youth. At the heart of this celebration is the growing number of young entrepreneurs who are forging their own paths, creating opportunities and contributing to a more inclusive economy.
Yet for many, turning an idea into a sustainable business is far from simple. From accessing funding to getting paid, young business owners face unique challenges in an increasingly competitive landscape.
At Payfast by Network, we understand these challenges — and we’re committed to helping young entrepreneurs overcome them with the right payment tools and support.
The entrepreneurial reality for young South Africans
With one of the highest youth unemployment rates globally, South Africa has seen a surge in entrepreneurship among young people looking to build their own futures. From fashion brands and tech start-ups to food stalls and wellness services, youth-led businesses are driving economic activity across the country.
But passion and creativity aren’t always enough to get a business off the ground. Many young entrepreneurs are held back by a common set of barriers:
Limited access to capital
Without formal credit histories or collateral, many find it difficult to secure funding or access traditional lending options. This restricts their ability to invest in stock, equipment or growth.
Lack of support networks
Entrepreneurship can be a lonely journey. Without access to mentors or peer networks, young business owners are often left to navigate critical decisions alone.
Informal business models
A large portion of youth-run businesses operate without formal registration or banking infrastructure. While this offers flexibility, it can also limit growth and credibility.
Payment challenges
Getting paid efficiently and securely remains a major obstacle. Relying on cash or manual transfers can lead to delays, disputes and missed sales — and leaves no financial trail for future funding applications.
Why payments matter
Payments aren’t just a technical function — they’re the heartbeat of a business. The ability to get paid easily and reliably can determine a business’s sustainability. Digital payments provide several key advantages:
- Build customer trust with a professional payment experience
- Create a financial track record that supports future funding
- Make it easier to track income and manage cash flow
- Reduce risk by minimising cash handling and fraud exposure
But many young entrepreneurs still don’t have access to tools that support these goals. That’s where Payfast comes in.
How Payfast helps young businesses succeed
As a South African-born fintech, Payfast is built for local entrepreneurs. Our platform is designed to help small and growing businesses get paid — simply, securely and on their own terms.
Get paid without a website
Many young entrepreneurs trade through Instagram, WhatsApp or at physical pop-ups. With Payfast’s Payment Request feature, you can send a secure payment link via email — no website needed.
Accept multiple payment methods
Today’s customers expect flexibility. Payfast allows you to accept over 18 different payment methods online, as well as card and mobile wallet payments via our card machine.
Access funds faster with Immediate Payouts
We know that cash flow is critical. That’s why Payfast offers Immediate Payouts, giving you access to your money as soon as you need it — perfect for buying stock, paying suppliers or managing day-to-day operations.
Grow your business with Easy Advance
Funding shouldn’t be out of reach. Our Easy Advance solution offers working capital to qualifying Payfast merchants based on their transaction history. It’s funding that’s accessible, flexible and built around your business’s performance — no long applications or unnecessary admin.
Easy onboarding and transparent pricing
Getting started shouldn’t be complicated. Our signup process is fast, our pricing is clear, and our support team is here to help every step of the way via live chat on our website.
Creating a youth-inclusive financial ecosystem
Empowering young entrepreneurs isn’t just about tools — it’s about creating opportunities. When youth-led businesses succeed, they drive job creation, strengthen communities and contribute to broader economic transformation.
At Payfast, we’re proud to support the next generation of business leaders. From your first sale to your next step, we’re here to help you get paid, grow confidently and access the capital you need to succeed.
Reach out to our Sales team to find out how we can help you get started.
