small business

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Managing customer payments is one of the most critical components to help ensure the longevity of a small business in South Africa. This is especially the case when it comes to informal traders, micro-businesses, and others who might not have the systems in place to deal with card transactions, according to Craig Leppan.

 


Business growth is key to the success of any small business. It's important to remain consistent as you start to grow your company, and make sure you focus on areas that will offer the biggest gains. 

It's important to be aware of your business' weaknesses and strengths so that you can improve on areas that offer the most potential. Improved cash flow, proper marketing and customer service can be the difference between staying open or going out of business.


If you are a small Black-owned business in the clothing and textile, automotive or chemical industries, you are invited to enter the 2021 Business Accelerator Programme and put yourself in the running to win seed capital for your business. 


The unemployment stats released by Statistic South Africa paints a grim picture. More than 2 million people have lost their jobs due to the Covid-19 pandemic. The situation faced by South Africans is made worse by the rising cost of living, increasing inflation rate and rising petrol prices.


Absa says that 90% of the jobs lost up to the beginning of the third quarter took place in Small Medium and Micro Enterprises (SMME) sector. Tsungai Masendeka has described the situation faced by SMME’s as dire.


A total of 100 000 young entrepreneurs will take their businesses to new heights with funding through the Small Business and Innovation Fund (SBIF).


Starting a business and forging a new frontier can be a lonely task and the entrepreneur needs support.

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