When we talk about starting your own business, there are a lot of costs involved: Employee costs, the cost of funding (capital), the cost of marketing, and the cost of monthly expenses. But why do we never talk about the biggest and perhaps most crucial cost – the emotional cost? Imagine if we could express
There are more than 2.5 million small and medium-sized enterprises (SMEs) in South Africa, however, accessing funding remains still a major challenge for many entrepreneurs. To combat this, the country now has a growing alternative lending sector that is focused on providing funding for this market. SME lending is a massive gap and a global
One of the biggest challenges facing small business borrowers (and lenders) is that too many business owners wait until the need for financing is critical before they start looking. Taking a more strategic approach, and seeking financing before the need becomes a crisis, could make the borrowing process less stressful and more successful. It’s sometimes
From one-person entities to JSE-listed companies, no business can escape the dreaded task of bookkeeping. While it’s definitely not one of the more glamorous parts of the job, bookkeeping is at the heart of small business success, which means errors can be crippling. To avoid the financial headaches that come with bookkeeping mismanagement, it’s important
Tourism in South Africa contributed 1.5 million jobs and R425.8 billion to the economy in 2018, making it the largest tourism economy in Africa, according to the World Travel and Tourism Council’s (WTTC) annual review of the economic impact and social importance of the sector released today. The 2018 research shows that the South Africa
The South African Cement, Lime and Plastering Industry: The South African cement industry has an installed capacity of over 20 million tons per annum and employs some 16,000 people. A lack of large infrastructure projects and low business confidence has resulted in continued declines in demand for cement products. Industry stakeholders forecast that the current oversupply
Across the world, people are ordering dinner to the Eiffel Tower, breakfast on Bondi Beach, lunch alongside the Tokyo Imperial Palace and picnics to Emmarentia Dam. The explosion in app-based food ordering is still relatively new and, although many people feel guilty about ordering in, it’s a trend that is not going away any time soon.
In our society, failure has become some sort of an unmentionable occurrence. None of us likes to talk about it. But we all know it’s there. Scrolling through articles, social media posts, etc. we look at other “successful entrepreneurs” and immediately these images and narrative invites us with the allure of ample time and freedom
We’ve all heard the stories of kids starting a business at a young age. It’s a tempting scenario: Your child develops a passion for something, turns it into a business, and before you know it, they’re supporting you in your not-so-old age. Generation Alpha are those born after 2011. In 2050, the eldest Alphas will
Turnover is Vanity. Profit is Sanity. But Cash is King. Most of us are familiar with the saying. Cash flow management is the key to success for many new and growing small businesses. Cash is the fuel that makes any new business work; hence, these businesses should be managed with a primary focus on cash/cash
You already know who Millennials are: people born between 1982 and 2000. But who are Millennipreneurs? They may not be small business owners yet, but entrepreneurship plays a significant role in their lives. According to a survey of millennials by EY and Economic Innovation Group, 78% consider entrepreneurs successful, and 62% have considered starting their own
Before I start off, let me be upfront by saying, 99% of would-be entrepreneurs out there do not have the funds to buy an existing business. But, in an ideal world, if you do have the funding available, it would be worthwhile to look at the reasons why buying a business is an easier path