One of the biggest consequences of an unbanked population is that they are unable to participate in the formal economy. This is a problem across the African continent, for South Africa in particular - of the 70% of adults with bank accounts, only 24% make more than 3 transactions monthly. This translates to a poor...
Source: Simodisa https://youtu.be/nbSoqqqhGcQ?list=PL79IIrLEs4aLHj9wN8JDa11ffWVYcesOf ')}
Dion de Graaff, Chief Operating Officer at The Twinsaver Group, highlights a number of mistakes that SMEs make and how they can overcome certain barriers to achieve sustainable growth: Redesign your strategy - SMEs often fail to clearly outline their strategy and very often the strategy is not adaptable to a dynamic market Ascending...
The report highlights two key demographic and macroeconomic factors as well as consumer spending habits that will drive the retail market in Africa. Fast moving consumer goods (FMCG), will remain a large part of the market, due to spending habits of the extremely poor consumers in Africa. There is an opportunity to offer higher...
Adrian Dommisse from Dommisse Attorneys Inc, an attorney who specializes in corporate finance and general commercial contracts, highlights the legal aspects concerning name reservations including: It is not necessary for a company to register a name when registering their company, however business owners need to be mindful of not 'encroaching on someone else's territory'....
South Africa still grapples with issues concerning gender inequality. On a global level, the facts show that even though women are prevalent in global workforce, education, employment and wealth indicators still favor their male counterparts - there are parallels to South African trends. A panel of South African panelists discuss this disparity and have highlighted a...
Research has identified four entrepreneurship archetypes in the South African SME market and identified the components that needs to be strengthened to ensure that these archetypes thrive: High-tech Entrepreneurship Model - In this model intellectual property (IP) is developed by research universities or centers and commercialized with support from angel investors and venture capital. External...
Even the most successful entrepreneurs have found value in mentorship relationship. Business mentor and founder of Promentor, Brent Combrink says mentorship can offer many benefits including have an opportunity to have a sounding board to help validate and guide your decisions. According to Brent Combrink, every entrepreneur should invest time in acquiring four types of...
Technology has become a key driver of efficiency and therefore the success of multinational businesses, so it is interesting that SMMEs are not embracing this trend. There are a number of issues which prevent startups from embracing technology, chief among these is digital illiteracy. When compared to global counterparts, research shows that South African business owners...
Co-working spaces are a cost-effective alternative to working from home, while balancing professionalism to your and partners as well as maintaining productivity, here are a few reasons why: Save on working space costs - business owners can select daily or monthly plans and are in control of how much they pay Costs of facilities - rates...
