Tag: Business Partners Limited

A recent survey, The Great Retirement, found that 51% of the global workforce is expected to retire or leave within five years. For South African Small and Medium-sized Enterprises (SMEs) already struggling with skills shortages, this could place additional pressure on business continuity, productivity and growth. Moreover, more than 60% of South African businesses already cite skills gaps as a barrier to progress.

In June, Meta experienced a global outage that disrupted Facebook, Instagram and WhatsApp services for users worldwide. The outage left many businesses temporarily unable to connect with customers through some of their most important digital channels. While the disruption was temporary, it highlighted the risks associated with relying too heavily on a single digital platform.

As the world prepares for another Black Friday on 28 November, South African small and medium enterprises (SMEs) have a golden opportunity. They can stand out from big brands by offering value-driven, authentic alternatives. SMEs should prioritise visibility over discounts during this period to connect with their communities and build brand awareness.

Running a business is often portrayed as a path to independence and success. However, behind the scenes, many entrepreneurs quietly battle overwhelming levels of stress. In a survey of more than 400 early-stage startup founders, 72% reported that entrepreneurship has impacted their mental health. Of these, 37% suffer from anxiety.

Small and medium-sized enterprises (SMEs) are the backbone of South Africa's economy. They contribute more than R5 trillion in turnover and account for roughly 34% of the country's GDP. SMEs also employ 11.4 million people. These vital economic engines drive innovation, create jobs and fuel growth across the nation.

Having an established and well-communicated company purpose in place can be a powerful driver of positive change. This statement holds true in terms of a company’s broader social impact, but there is also a strong business case to be made for purpose-driven culture and as its value as a driver of employee engagement.

For many small businesses, 2022 was a year of unprecedented change, as businesses and consumers adapted to life after the worst of COVID-19. As 2023 starts, consider the following so that you face the the year ahead with renewed determination.

Several advantages make owning commercial or business property a viable prospect for small businesses. These include the benefit of asset appreciation, enjoying full control over interior design and renovations, security of tenure and avoiding above-inflation rent hikes.

Leaked documents detailing the forthcoming launch of ‘Project Fela’ – a new marketplace with its own membership programme owned by Amazon – has prompted much industry speculation and debate around the role that competition plays in sector development.

The sustainability concept is top priority for businesses globally, gaining significant traction in recent years. As a result, an increasing number of emerging entrepreneurs are entering the business world with a 'greener mindset', succinctly aware of issues around people and the planet.