Business owners urged to prepare for upcoming ‘silly season’

Nov 092012
 

With the festive season looming, entrepreneurs often get caught up in the rush and forget to step back and analyse how their business operates within this busy period of the year.

According to Nimo Naidoo, project manager of the Sanlam / Business Partners Entrepreneur of the Year Competition®, the festive season can be one of the most busy and costly periods of the year, especially for businesses operating within the tourism, hospitality and entertainment sectors.

Naidoo says that although most businesses have seasonal highs and lows, no matter which industry they’re involved in, many businesses within the lifestyle and hospitality sectors depend heavily upon revenue generated during this period, and can sometimes survive on this revenue throughout the year.

She says that businesses operating in these industries therefore need to take care when putting budgets in place… more

Entrepreneurs urged to embrace online tools to overcome challenges

Oct 082012
 

It is essential that South African entrepreneurs and small business owners utilise all tools and resources available at their disposal, in order to reduce the relatively high current business failure rate in the country and to overcome challenges they are experiencing.

This is according to Nimo Naidoo of the Sanlam / Business Partners Entrepreneur of the Year® competition, who says there is a wealth of tools and information available online that can be used to empower business owners with crucial SME skills, as well as streamline existing administrative and marketing functions.

“Data from the most recent 2011 GEM Global Report reveals that South Africa has the second lowest established business ownership rate amongst all efficiency-driven economies, consisting of businesses older than 3.5 years. This illustrates a high rate of failure or lack of growth amongst entrepreneurs and small businesses,” says Naidoo… more

The state of entrepreneurship in South Africa

Aug 282012
 
The state of entrepreneurship in South Africa

South Africa’s entrepreneurial activity, over the past eight years, has shown vast improvement, however the economy lags behind comparable economies and has not fully utilised the economic potential that is available in entrepreneurial opportunities.

According to Nimo Naidoo, project manager of the Sanlam / Business Partners Entrepreneur of the Year® competition, South Africa has the ability and the resources available to support entrepreneurs, but believes that the country has yet to develop a strong entrepreneurial culture to drive it.

 

 

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