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Showing posts from December, 2016

Is it riskier than ever to start a business?

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As 2016 nears an end many begin to re-evaluate the year that was, both personally and professionally. As a result this is typically the time of the year new life and professional goals are developed. This is also characteristically a time when hopeful entrepreneurs consider whether the approaching year is the correct time to pursue their business idea.

This is according to Gugu Mjadu, spokesperson for the 2016 Entrepreneur of the Year® competition sponsored by Sanlam and BUSINESS/PARTNERS, who says that many aspiring entrepreneurs spend the festive season break considering possible business ventures, and questioning whether the risk of leaving their steady nine-to-five job to start an entrepreneurial business will be worth it.

Mjadu says that this is a valid contemplation given the current economic and market landscape, which may create more hesitation than inspiration where entrepreneurship is concerned. “In an economy awash with threats of investment ratings downgrades and politi…

Building your small business into a big brand

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When it comes to marketing a small business, the fundamentals remain the same as they are with big businesses, yet many small and medium enterprises (SMEs) fail to action even the simplest marketing initiatives effectively, often to the detriment of the business’ success.

David Morobe, Regional General Manager at Business Partners Limited (BUSINESS/PARTNERS), says that many SMEs don’t pay marketing functions as much attention as other elements within a business as the perception is that their business is too small and doesn’t have the financial backing or marketing budget that bigger businesses can afford.

He points to the 2016 National Small Business Survey, recently released by the National Small Business Chamber (NSBC), which revealed that of the 17 950 local small businesses surveyed, many listed not marketing themselves effectively as their biggest mistake to date, and 43% listed sales and marketing as the area in which the most assistance is required.

Not allocating resources –…