Tag: Small and Medium Enterprise (SME)
Vanity metrics mask value
Today’s marketers, particularly those working with SMEs, are finding that long-term gains often disappear in the pursuit of undefined "vanity metrics". These metrics are not moving the needle in ways that align with real returns on investment. The world has changed. As a result, marketing must change, too.
Corporate ESD funds can fuel growth-generative innovation
South Africa stands at a pivotal moment. The transformative power of Artificial Intelligence (AI) now intersects with the urgent need for economic revitalisation. While AI holds immense promise, particularly for the Small and Medium Enterprise (SME) sector, realising this potential requires a strategic and united effort.
Cloud or on-prem? Decoding the choices for enterprises
The debate between on-premise and cloud computing architectures remains a prominent topic among businesses, particularly in South Africa. This discussion is not merely about technology but is deeply intertwined with organisations’ specific needs and business models.
The 2025 NMW increase – balancing viability and worker welfare
The National Minimum Wage (NMW) in South Africa has risen to R28.79 per hour, effective 1 March 2025. This 4.38% increase from the previous rate of R27.58 reflects the government’s commitment to improving workers' livelihoods. However, it also poses significant challenges for businesses, especially Small and Medium Enterprises (SMEs), which are already grappling with a rising cost of living alongside a sluggish economy.
SME financing trends to watch
Small and medium enterprises (SMEs) in South Africa struggle to secure funding. Traditional banks fail to meet their debt capital needs. Fewer than 15% of SMEs access debt funding from banks, excluding overdraft facilities. Alternative lenders also fall short in meeting SME lending demands. The International Finance Corporation estimates a $30 billion (ZAR 550 billion) funding gap for South African SMEs.
Hyper-personalisation for SMEs to redefine consumer engagement
Forget outdated consumer demographics and marketing personas. Even knowing your customers’ names and preferences is no longer enough. According to a Marketing & Sales Practice report by McKinsey, 71% of consumers now expect personalisation. This expectation raises the bar for customer retention and engagement.
Closing the tax gap – how can more SMEs reap the...
Small businesses in South Africa manage multiple priorities, such as business efficiency, innovation and growth. Many overlook the value of claiming the full range of tax benefits available to them amidst these daily challenges.
Delayed budget and VAT hike – SME implications
As the nation waits for the rescheduled delivery of the Budget Speech on 12 March, many wonder what tax announcements to expect. The delayed budget and VAT hike mean small business owners, in particular, remain on tenterhooks as they anticipate the rate hike. This increase would see the VAT rate rise from 15% to 17%, which could significantly impact businesses.
Youth entrepreneurship and taxes – staying compliant
We are urging all young entrepreneurs to secure their businesses’ long-term success by ensuring their full tax compliance by February 28, 2025.
Inclusive SME financing solutions
For more than half of all South Africans, Small and Medium Enterprises (SMEs) are the reason they are currently employed. This vast network of entrepreneurs, representing 98.5% of South Africa’s commercial enterprises, contribute 40% of the country’s Gross Domestic Product (GDP).