Latest newsEntrepreneurs are the unsung heroes of the South African economy. The small business sector is an important source of job creation and for millions of South Africans, it is a driver of income that supports the business owners as well as their families and communities. 6 Dec 2023 Read more In South Africa’s highly competitive small business environment, entrepreneurs need a substantial number of resources to get off the ground and achieve growth. While access to funding is one of these crucial resources, support in the form of expert advice and specialist technical assistance is just as essential. With access to the right kind of expertise, training and ongoing mentorship, small businesses have all the tools they need to be a success. 5 Dec 2023 Read more Black Friday, one of the world’s most anticipated shopping events on the calendar, is just around the corner. For major retailers, this is the time of year to grab the attention of bargain-hunters, early-bird festive gift shoppers and individuals on the lookout for self-care spoils. With some careful planning and strategic thinking, local small businesses can also get in on the action. 23 Nov 2023 Read more According to some of South Africa’s major banks, 2022 Black Friday sales volumes returned to pre-pandemic levels. The country’s most anticipated annual shopping event raked in billions of rands, with single transactions in some cases, totaling hundreds of thousands of rands. This year, with summer in full swing and the festive season fast approaching, the hype around Black Friday is palpable. For small businesses, this period represents a rare opportunity to cash in and firm up revenue ahead of the end of the year. 22 Nov 2023 Read more Turning a small business into an empire in a high-risk environment with a high failure rate, is no small feat. In South Africa, access to funding can bridge the seemingly insurmountable gap between what it takes to get a venture off the ground and what's needed to reach the next phase of strategic growth. And part of offering true value in terms of access to market and sustained growth, is simplifying finance for business owners - meeting entrepreneurs where they are. 6 Nov 2023 Read more Along with the vast amount of opportunity, the South African business climate also presents entrepreneurs with a great deal of challenges. This has been particularly true within the context of the past two years, which have been characterised by the impact of a persistent economic downturn. Pressures such as the ongoing energy crisis have been exacerbated by the rising cost of fuel, amidst other headwinds including adverse weather patterns and spates of civil unrest and violence. 6 Nov 2023 Read more Online sales in South Africa have been on a gradual increase since the onset of the pandemic, bringing the industry to over R30bn by the end of 2020. And, with mobile penetration in the country reaching unprecedented heights, mobile commerce or 'm-commerce' is on industry experts' watchlist, with retailers across multiple sectors looking to cash in on the trend. Local small businesses should not miss the boat of aligning with this growing direction as customer behaviour evolves. 3 Nov 2023 Read more The pandemic years brought issues of mental health in the workplace to the forefront. For many South African employees, the pressures associated with making an unexpected but seamless transition to remote working proved taxing, with many employees struggling to regulate their schedules and maintain a work-life balance. 24 Oct 2023 Read more For entrepreneurs with a natural drive to work autonomously, build a dream and make a meaningful contribution towards the economic development of their communities and country, nothing is more rewarding than launching and running a successful business. 23 Oct 2023 Read more While the notion of the 'metaverse' is still fairly conceptual, has lost some of its initial appeal and will evolve along with consumer trends and online user behaviour, several large companies are already seeing the benefits of offering customers immersive, digital experiences. With the quantum leaps being made in the realms of virtual and augmented reality, the metaverse has the potential to open up doors of opportunity - not only for large corporations, but for small businesses too. 12 Oct 2023 Read more It has been widely reported that South Africa is poised to overtake Nigeria as the continent's capital for cybercrime. According to the latest research conducted by Interpol, South Africa has seen a staggering 100% increase in mobile banking application fraud over the last year and is estimated to experience as many as 577 malware attacks every hour. While the broader media have made great strides in bringing awareness to the prominence of cybercrime in the country, the message needs to be amplified in the small business sector in particular. 10 Oct 2023 Read more In an environment filled with economic curveballs, South African businesses face just as many challenges as they do opportunities. With cash flow management and funding being paramount to the survival of a small business, access to expert advice, mentorship and guidance on financial matters is one of the most invaluable tools in a small businesses' toolkit. Being able to work with money, exercise responsible financial habits and take a long-term view on a business' financial wellbeing are not always inherent skills of every entrepreneur. Rather, they are skills that are learnt and developed over time, with much patience and practice. 9 Oct 2023 Read more Following the dip taken during the pandemic years, the South African economy has faced a number of headwinds on its road to recovery. The current economic downturn has been characterised by high levels of inflation, the rising cost of credit, fuel hikes and a cost-of-living crisis. These realities have placed millions of small businesses across the country under immense strain. Despite these challenges, many of these businesses continue to demonstrate a "heritage of resilience" and maintain an optimistic outlook heading in 2024. 22 Sep 2023 Read more Small business owners must understand how to go about hiring the right people, in order to build teams that can get the job done, in the correct way and within the right time frame. Although every startup has different requirements in terms of the kind of people and expertise it needs to get off the ground and be a success, there are a few basic guidelines that should be followed when it comes to the hiring process, and how to avoid hiring the wrong talent. 22 Sep 2023 Read more There are a range of skills that are required and critical to becoming a successful entrepreneur. Some of these include negotiation skills, good communication, time management, an appetite for ongoing learning, risk tolerance, resilience and adaptability. Another one of these critical skills is the ability to pitch your business to potential investors or new customers. 14 Sep 2023 Read more South Africa's tourism industry was among the hardest hit sectors by the onset of the Covid-19 pandemic. The introduction of strict lockdown regulations all but shut down thousands of small tourism businesses and brought the sector's value chain to a standstill. Now, recent reports indicate a gradual improvement, with tourism volumes and international arrivals showing a steady incline. Ahead of the busy end-of-year period, small businesses need to step up with strategies to leverage the opportunities that exist within the sector as local and international tourists prepare to make their way through our country. 14 Sep 2023 Read more Spring is officially on our doorstep, and for many small businesses, the beginning of spring marks the onset of the busy season. It's been a tough winter for small business across a range of sectors, specifically retail, which saw a year-on-year decline in sales during the first half of 2023. According to recent statistics, this decline was most notable in the hardware, paint and glass, household furniture, appliances and equipment industries. 7 Sep 2023 Read more Like several of its global counterparts, South Africa is experiencing a critical skills shortage, particularly in finance, health and IT sectors. The current skills deficit can be attributed to a number of factors, including the migration of young talent to opportunities overseas as well as remote work prospects. The impact of this attrition of the skills base has upped the ante for local businesses competing for the best talent. Within this highly competitive environment, small businesses need to be very strategic about how they attract and retain their workforces. 6 Sep 2023 Read more As engines of economic growth and generators of jobs, the well-being of South Africa's small business sector is inextricably tied to broader imperatives such as financial inclusion, a more equitable nation, and social upliftment. This is according to David Morobe, spokesperson for the Business Partners Ltd Entrepreneur of the Year® (EOY) competition, who says that recognising and rewarding success in the sector can play a significant role in encouraging entrepreneurial activity and resilience. 25 Aug 2023 Read more The concept of the 'Internet of Things' (IoT) has been around for over twenty years and has come to represent the interconnectedness of everyday objects and devices that can store and transmit data. Now, well into what many regard as the fourth industrial revolution (4IR), the IoT and the way we use information is shaping a new global economy - one in which knowledge and intellectual capital are the most valuable commodities. For small businesses (particularly in Africa), the 'knowledge economy' represents a new horizon for optimised innovation, operational efficiency and global competitiveness. 24 Aug 2023 Read more
More news...Contact Business Partners LimitedTel: 0861 763 346
Email: az.oc.srentrapssenisub@seiriuqne
Website: www.businesspartners.co.za
Frequently Asked Questions: www.businesspartners.co.za/info-hub |
| |
|
|
