Many private sector development efforts in developing economies focus on small and medium enterprises, but few of these businesses survive or grow. Only a small percentage of small and medium businesses survive beyond their first few years, but those that do can have a big impact. Growth Entrepreneurs are people who lead businesses that create jobs and have a positive impact on local economic development. New research from the United States and Europe shows that small, fast-growing businesses account for nearly half of all job creation. South Africa has a high unemployment rate, and therefore needs to create more Growth Entrepreneurs in order to impact local economic development.