The first encounter people have with your brand is your business name. Some businesses have failed in the past due to having a business name that was not well thought out, therefore allocate sufficient time to brainstorm the most suitable name. The brand name is powerful since it can attract the attention of your target […]
Now that we know that many successful businesses have been launched during economically challenging times, and there is a plethora of businesses that are thriving during the pandemic, why not begin your new business now? Once you have done your market research and know what product or services you want to offer then write your […]
The world has changed since it went into lockdown. People are now working from home, watching movies at home, shopping online instead of going out to movies, sanitizing, wearing masks, and improving their homes. These trends will stay for a long time and have created avenues for new business opportunities. Some of the possible businesses […]
During pre-pandemic times South Africa had an unemployment rate of 30%. According to Statistics South Africa, the unemployment rate stood at 32.5% in the last quarter of 2020, meaning 7.2 million people are unemployed. Furthermore, the Organisation for Economic Co-operation and Development (OECD) predicts that SA’s unemployment levels will rise to 35%. It is quite […]
There must be some reason why some 600,000 new businesses are founded each year, right? Well, based on an informal survey conducted by Inc.com, there are plenty of good reasons to run your own small business. Nearly 500 (462 to be exact) small business owners responded to the survey in which they were asked to […]
Sustainability: Your business needs to be sustainable to be successful. Robert Gumede, CEO of Gijima states that to grow your venture “in business you must reinvest your money in the business.” Product Choice: Some businesses choose a product that there is no demand for, or it is not scalable. The result is that the company […]
Most entrepreneurs embark on the task of writing a business plan only when they are in search of funding. Those that already have access to funds and do not require investors, generally do not write a business plan. Research however, has shown that entrepreneurs that manage their businesses according to well thought out plans are […]
In the last blog article, we mentioned that the registration and ongoing operation of your company is regulated by the Companies Act. The following points, of the recently amended Companies Act and your small business, are important to note: A (Pty) Ltd is owned by its shareholders; these can be individuals or other companies. The […]
Once you have understood all the possible types of business formats that can be incorporated, you can choose which structure would suit you best. If you decide to run as a sole proprietor or partnership, there is no need to register your business. However, all other business structures must be registered with the South African […]
