Planning to start a new business will involve spending money. Sometimes a lot of it. Now you’re planning to spend money. You’re planning all the material goods you may possibly need – from a pencil to your premises – and everything in between. This is the time to be conservative…and smart! Start-up expenses for a
Deciding on a business name and logo is one of the most important things you’ll do. When you choose a name and logo for your business you are also choosing an identity. Get your family, friends and/or colleagues together for a business name brainstorming session. Your business name must be memorable – but easy to pronounce and spell: Your
Planning…no wait…thorough planning is the key to success. Opening a business without a business plan is like setting out into the middle of nowhere with no map or supplies and trying to find a specific location you’ve never been to. You have an idea where you want to go but you have no idea of
The failure of new and existing South African businesses is a topic that has been discussed and debated for years. According to a study by The Small Enterprise Development Agency (SEDA: 2007), a subsidiary of The Department of Trade and Industry, South Africa has one of the highest failure rates of new SMEs in the
Feasible or not! Feasibility; an important component that so many new entrepreneurs fail to consider. Before you get to the stage of starting your own business, and opening your doors for the first time, there are two vital aspects that most individuals find very difficult; firstly, getting a new business idea and determining whether this new
Starting a business is a bit like moving into a new house – you are usually well prepared for the obvious expenses, but the hidden extras can break the bank. During the start-up phase of a small business, the business owner needs funds for once-off costs as well as at least six months of working
