Online trading platform to assist SMMEs

Wednesday, March 27, 2019

On the 28th of March 2019 President Cyril Ramaphosa will be launching an online trading platform which will link registered small, medium and micro enterprises’ (SMMEs) access to supply chain opportunities of large South African corporations that have an integrated global footprint.

The platform – called the Business Leadership South Africa Connect – will be launched in conjunction with the SA SME CEO Fund Circle. 

In a statement, the Presidency on Wednesday said the online portal will promote supplier diversity and the inclusion of black suppliers in the value chain.

“This initiative will create market opportunities for black-owned SMMEs through linkages and networking between large firms and SMMEs. It will also support emerging enterprises with access to enterprise and supplier development,” the Presidency said. 

This programme of broadening economic participation forms part of BLSA’s #BusinessBelieveInSouthAfrica campaign. One of the commitments under this campaign is support for small businesses.

The Presidency added that BLSA campaign supports government efforts to broaden economic participation and dilute the concentration of the South African economy in which a relatively small number of enterprises dominate all levels of supply chains and limit choices for consumers.

In February 2019, President Ramaphosa signed into law the Competition Amendment Bill which constitutes a boost for SMEs, economic inclusion and is intended to open the economy to fresh investment and innovation.

At this week’s event, President Ramaphosa will concurrently launch the SA SME Fund CEO Circle which aims to finance and scale up black SMMEs

“The fund was set up under the auspices of the CEO Initiative in 2016 to stimulate growth and investment drawn from the expertise of South Africa’s top business leaders. 

“Fifty of South Africa’s largest companies have collectively invested R1.4 billion in capital in the SA SME Fund which is mandated to invest the bulk of its funding into black emerging businesses,” the Presidency said.

President Ramaphosa has urged all social partners across the public and private spheres to collaborate on finding long term sustainable solutions to combat and reduce inequality, poverty and unemployment, and to secure and create inclusive growth to build a prosperous South Africa. – SAnews.gov.za

About Us

The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

@NsabasiNBR

Designed by Nsabasi Publishing©2020

Fear of failure hinders South Africa’s aspiring entrepreneurs

Opportunity for young aspiring entrepreneurs to turn their ideas into a viable business with national free business training workshops   19 June 2018: According to the 2017/2018 Global Entrepreneurship Monitor Report, 43% of South Africans perceived good entrepreneurial opportunities, yet only 11% of entrepreneurs were engaged in Total Early-stage Entrepreneurial Activity and had taken the steps to start a new business. Further to this, 31% of respondents had reported to have a fear of failure when starting a business.   Christo Botes, executive director of Business Partners Limited (BUSINESS/PARTNERS) says that this is something that can be remedied through accessible initiatives that equip aspiring entrepreneurs with the necessary knowledge, skills and support. “It is imperative that young entrepreneurs have all the resources they need to confidently take their ideas and turn them into viable businesses.”   With this in mind, the SME Toolkit BUSINESS/PARTNERS Business Plan Competition for Aspiring Young Entrepreneurs was developed eight years ago with the aim to assist young and ambitious individuals (aged 18 – 35 years old) who want to start their own businesses.   “The annual competition, which launched this year on 16 June 2018, consists of three phases, starting with a full-day workshop where entrants will be taught the intricacies of developing a sound business plan,” explains Botes. “The workshops, which will be hosted at different regions across South Africa, will also cover all the essential elements of starting a business, including business management, marketing, financial management and legal requirements.”   Botes says that the ability to develop a comprehensive business plan is the best way to improve an entrepreneur’s chances to succeed. “This plan should tell a clear story of why the business will be started, and how the business owner plans to steer it to profitability and sustainability. The growth of a business can be somewhat difficult to predict, and the business plan will also assist in identifying roadblocks and potholes along the way.”   Following the regional workshops, the entrants will draft their business plans and enter them as part of the second phase of the competition. From these plans, eight regional winners will be chosen to receive a mentorship support voucher to the value of R6000 each.   Utilising the skills and expertise of an experienced mentor is a great way to grow a start-up business, says Botes. “A mentor can play any number of roles – sometimes that of strategic adviser, technical expert or business consultant, and sometimes all of them at once. But the key characteristics of a mentor has to do with their experience, attitude and approach.”   Finally, the competition will culminate in an awards ceremony, where a national winner will be chosen and awarded a mentorship voucher worth R 12 000, a smart tablet and R 25 000 in seed funding.   “It is crucial to equip aspiring entrepreneurs with skills, technical abilities, training, knowledge and guidance through such workshops and mentorship opportunities as this contributes to the sustainability and prosperity of a small business,” conclude Botes.   To enter the SME Toolkit BUSINESS/PARTNERS Business Plan Competition for Aspiring Young Entrepreneurs, please visithttp://smetoolkit.businesspartners.co.za/. The competition launched on 16 June 2018 and the closing date for the first phase of the competition is 17:00 on Monday, 31 July 2018.   The workshops will take place in the following regions across South Africa: Johannesburg, Cape Town, Pretoria, Durban, Polokwane, Kimberley, Bloemfontein, East London and Port Elizabeth (provided enough entries are received in each area) and will take place from 15 to 24 August 2018.

About Us

The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

@NsabasiNBR

Designed by Nsabasi Publishing©2020

Gauteng enterprise propeller to hand-over automotive equipment to 30 SMMEs

Johannesburg – On Friday, 08 June 2018, the Gauteng Enterprise Propeller (GEP) will officially hand over automotive equipment to 30 SMMEs who were incubated at the Automotive Industry Development Centre (AIDC) in Pretoria /Tshwane.   Informal Body repairers (famously known as Backyard Mechanics in the Townships) and Mechanical repairers (SMMEs) possess inadequate or outdated technical knowledge and skills which are not relevant to the current methodologies implemented in the automotive sector. This poses a risk to the success of their businesses and limits opportunities for them to participate in the automotive market space. It is in this spirit that GEP selected 75 SMMEs and incubated them for a period of 1 year starting 1 April 2017 to 31 March 2018. The incubation program provided the SMME’s with the necessary support that enabled the entrepreneurs to manage their businesses more efficiently and professionally. 20 SMMEs did pre-trade test assessment utilising National Artisan Moderation Body (NAMB) Recognition of Prior Learning (RPL) tool kits, 25 business owners were capacitated with the right skills through technical training of their staff and lastly 30 SMMEs will be given necessary equipment support that will enable them to run profitable and vibrant business. The SMMEs were also afforded an opportunity to register with the South African Motor Body Repairer Association (SAMBRA).   Of the 75 SMMEs, GEP will be handing over equipment to 30 SMMEs as part of GEP non-financial support programme. The SMMEs selected were within the Panel beating, Spray painting and Automotive repairs space. The equipment to be handed out will be diagnostic machines, mechanical tools, spray painting kits, jet trolley compressors and lifting hosts (Engine lifters).  It is projected that these 30 SMMEs will be able to employ minimum of one person, thus contributing to job creation in the province of Gauteng.   The details of the event are as follows: DATE: Friday, 08 June 2018 TIME: 07H30 for 08H00 VENUE: Gauteng Automotive Learning Centre; 99 Hendrik van Eck, Rosslyn, Tshwane   Members of the media are hereby invited to attend and report.  To RSVP kindly email: pzitha@gep.co.za   For media enquiries, contact: Thenjiwe Dube tdube@gep.co.za 0605645126   Follow us on Twitter: @GautengDED   Like our Facebook page: Gauteng Department of Economic Development            Issued by the Gauteng Department of Economic Development www.gauteng.gov.za

About Us

The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

@NsabasiNBR

Designed by Nsabasi Publishing©2020

Small is the new big

Bev Hancock: Business Strategist & Team Building Specialist Bev is a futurist who joins the dots between people, strategy and culture in the future world of work. She invites audiences to think differently and gives practical strategies for building trust, accountability and leadership into the daily fabric and leadership of the organisation.  Ever since David and Goliath, the idea of the little guy with limited resources taking on the giant and winning, has been a popular story.  Where as the giant will always have the advantage of strength, resources and economies of scale, it is David’s agility, innovative use of everyday resources and courage to take on the impossible that give him a distinct advantage.  The digital age has presented small businesses with an unprecedented opportunity to gain competitive advantage where small and agile is an advantage. According to Deloittes Tech Trends (2016) competitive dynamics are driving change.  Small businesses, who are not hampered by complex legacy systems, are able to innovate faster. As the demand for online and cross-border trade increases, brick and mortar businesses are losing their advantage to agile, digital, cloud-based start-ups.  More and more, consumers are using their mobile devices to communicate, market, sell and trade.  According to the World Economic Forum (WEF) Kenya reports that more than half the population makes mobile payment. So why are we not seeing small businesses rush to gain this competitive advantage?  The World Bank reports that despite these trends, only 9% of small businesses and 16% of medium sized businesses sell online.  Even in upper-middle-income countries, less than 30% of small businesses and less than 40% of medium-sized businesses sell online.  Develop a digital mindset There are many free tools from top technology companies who offer free digital readiness.  To slay Goliath, David had to prepare himself both mentally and physically.  You can develop this mindset by immersing yourself in the available technologies, many of them free.  Don’t just research their benefits and risks, experience them and get a clearer understanding how they can transform your business into a cross-border marketplace.  Take advantage of scale in the cloud When choosing his weapon, David started with what was immediately available and something he knows well.  Cloud business models often start with a basic “freemium” model which allows small business to use the technology either for free or at a limited cost.  This allows small business to gain valuable digital skills and access to limited markets.  By combining these with free social media marketing tools, businesses can achieve a substantial amount with minimal layout.  However, the aim of freemium is to upgrade customers to premium and many small businesses are resistant to paying for these services.  There does come a time however, when scaling to a premium model is good business.  Work collaboratively to gain competitive weight Whilst David had the courage to take on Goliath singlehandedly, there is power in numbers.  The SME mindset needs to shift from competition to collaboration to have the best long-term success against the giant.  Through connecting to collaborative economy, business do not have to be experts at everything.  Through strategic partnering, using the sharing economy, accessing smart platforms and engaging with the SME ecosystem, business can overcome some of the traditional barriers to entry. Small businesses need access to digital financial, technological and logistical tools that can help them enter global markets. Through partnership, we can make these tools more accessible. Sonny Fisher, CEO of FORUS who launched the public utility blockchain digital exchange in Port Elizabeth recently believes that, “Through collaboration, we can democratise access to mobile commerce capabilities, expand access to affordable financing and equip businesses with the tools needed to compete on the global stage.” To achieve this, we need more Davids. Bev Hancock – Speaker, Strategist and Leadership Coach at Unique Speaker Bureau

About Us

The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

@NsabasiNBR

Designed by Nsabasi Publishing©2020