Tag: business plan

In South Africa, youth unemployment is a serious problem. Currently, 49.9 percent of young people are without work. This is deeply concerning, especially considering that the youth are the future of our economy. As much as we need the government and private sector to support young people, we also have the power to drive change ourselves.

So you’ve come up with a killer business idea and you’re ready to turn it into a side hustle or startup. What now? What do you need to do to bring it to life? Whether you’re looking to earn some extra money on the side or dreaming of starting "The Next Big Thing", Side Hustles and Startups is packed with the information you need to take this big step into your bright future.

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.

With entrepreneurship critical to SA’s economic recovery, there are resources to help aspiring entrepreneurs get ahead. Entrepreneurship has been hailed as the key to South Africa’s economic recovery – and the good news is that all signs point to it being on the rise.

For most Small and Medium Enterprise (SME), funding and loans are vital to their ability to purchase equipment, expand the business and maintain cash flow through challenging times. But to maximise their chances of getting the loan, it’s vital that that they do their homework before approaching a funder.

The role of the property manager continues to evolve. Once thought of as 'merely' rent collectors, it became all too evident that the role of a good property manager had progressed to encompass that of asset management. Now, with the effects of COVID-19 being keenly felt by businesses the world over, the role of the property manager has evolved once more to now include mediation as a key skill.

Amid the devastation caused by the COVID-19 pandemic on businesses, and in particular small businesses, bankruptcies have soared. If you were to do an analysis of why many small businesses go under, you are likely to find that a significant number end in financial ruin by making the same or similar mistakes.

Retrenchment is a word that can strike fear into the hearts of even the most seasoned veterans of the corporate world. In fact, the longer you’ve been with a company, the more daunting retrenchment can seem. Will you ever be able to find another job as good as, or better than, this one? Will you end up in a job you hate, through no fault of your own? And during a global pandemic and economic downturn, prospects look even bleaker.

Amid the economic downturns, market retreats and liquidations of COVID-19, start-ups have been one of the worst affected. A pronounced lack of funding and sales has left them cash-strapped and consumer hungry, with roughly 74% of these young businesses experiencing revenue decline since the beginning of the crisis.

Even the smartest minds around boardroom tables in many corporate companies could not have predicted that businesses around the world would be facing a crisis of this nature and this magnitude. COVID-19 has thrown a wrench into all business predictions and all 2020 plans. Anything that any business wanted to do this year, or likely even had planned for 2021, will have to be changed, or require a completely new approach.