Steering a business into a profitable and successful enterprise is a challenge
and not for the faint hearted, however, once achieved it presents owners the
opportunity to sell up and look at expanding their horizons through other
South Africa is moving into a dangerous cycle of reactive recession, with fears about
drops in consumer spending seeing retailers no longer training staff as well as they did
in the past and that is leading to declining sales according to Liza van Wyk.
The small business sector is vital in driving the economy and will also provide long
term solutions for the unemployment crisis the country currently faces. While
resources are not a problem, misinformation is. In the following article
a few myths are dispelled about how to start a small business.
The introduction of enterprise development has been lauded as a facilitator in aiding business compliance to BEE Codes of Good Practice. However setting up an enterprise development initiative could be a burden which requires expertise most companies lack.
In South Africa 56% of our new businesses close their doors within the first 12 months despite the many incentives, support structures created by government to boost small business growth. Mannie Hirsch explains this anomaly.
There is an urgent need for enterprise development in order for the economy to grow and prosper yet many established businesses are taking a back seat and failing to provide support to promising entrepreneurs.
The Department of Trade and Industry offers numerous programmes to assist both small and big businesses as part of its aims to create a mutually beneficial relationship between these two giant economic role players.
Following the success of implementing enterprise development projects on behalf of its clients, Siyakha Consulting has just launched The Big Container Initiative, a sustainable project that will ensure the financial and operational independence of the beneficiaries of the initiative.
Young entrepreneurs should be encouraged and supported as they are the pioneers of new innovations. These are the sentiments of Denvor Phokaners founder of the South African Youth Entrepreneur Network, a platform for young entrepreneurs to share ideas and find synergies.
The BHP Billiton enterprise development project valued at R14 million aims to offer local entrepreneurs a comprehensive development programme and world class entrepreneurial coaching and guidance to 'grow successful, profitable and, most importantly, sustainable businesses.'
Over the next few weeks EconoBEE, will be presenting the top 5 BEE interpretation blunders according to each of the elements on the B-BBEE scorecard. This week, the BEE specialists enlighten us on the topic of Enterprise Development.
FNB, a founding partner of the Enablis Entrepreneurial Network in South Africa, generously awarded a R2 Million grant in support of local entrepreneurial development, capacity building and long term economic stimulation.
Don't douse the flame, says Allon Raiz, second-start entrepreneurs have a vital role to play in reconstructing our economy. As we deal with the fallout of the 2009 economic recession, it is vital that we remove the stigma attached to business failure.