Entrepreneurs in South Africa often struggle to generate a credible reputation in a turbulent sea of competition, which often consists of large market players. Local entrepreneurs are also generally financially limited and unable to utilise traditional promotional tactics and national-scale advertising campaigns.
Through entering competitions and awards, entrepreneurs are often able to overcome these challenges as these platforms are not only cost-effective, but if successful, can have a significant effect on the brand reputation and bottom line of a new company.
This is according to Nimo Naidoo of the Sanlam/Business Partners Entrepreneur of the Year® awards, who believes that South African entrepreneurs need to utilise every available business resource and opportunity that presents itself.
“In our country’s rapidly growing and highly competitive SME market, entrepreneurs are already facing a wide variety of challenges, while having to compete with the big market players of their respective industries… more