More than half of the world’s economies don’t foster high-growth female-owned businesses. This was a finding in the 2015 Female Entrepreneurship Index (FEI) which revealed that 47 of the 77 countries surveyed scored below 50 points. From a local perspective, South Africa ranked 36th out of 77 countries with an FEI score of 44.2. In comparison, the United States ranked 1st with an FEI score of 82.9.  Gugu Mjadu, executive general manager of marketing: Business Partners Limited (BUSINESS/PARTNERS), says that these figures demonstrate that South Africans need to push even harder for equality in entrepreneurship, but, at the same time, warns that the country must be patient. “Research all over the world shows that when it comes to high growth entrepreneurship, female entrepreneurs are still in the minority. The move to equality is bound to be a slow, generational shift, but one that will require a conscious effort to complete,” says Mjadu.  “However, there is no doubt th...

Engel & Völkers is one of the world’s leading service companies specialised in the sale and rental of premium residential property, commercial real estate, yachts and aircraft. Around 580 residential property shops specialised in high-class real estate and more than 65 commercial offices brokering retail, office and industrial space, investment properties, multi-purpose apartment and office blocks and property portfolios offer both private and institutional clients a professionally tailored range of services. Leasing, sales, consultancy and valuations form the core competences of the staff of around 6,300 employees. The Company is currently operating in 39 countries on five continents. Intensive training schemes in its in-house real estate Academy and the high level of quality assurance governing its systematically structured service provision are key factors that account for the Company’s success. From left: Craig Hutchison, CEO Engel & Völkers SA; Charl Krumm, Licence...

According to Standard Bank , the franchise sector currently contributes nearly 10% towards South Africa’s Gross Domestic Product (GDP). Urban African dining restaurant, Moyo, joined this dynamic sector and made a robust comeback, under the direction of Fournews, while emerging from a business rescue plan implemented in 2013. Lynette Balie, Marketing and Sales Support Specialist for Fournews, shares how aspirant franchisees can become part of the sector and announces an exciting option to operate a Moyo from an iconic site in Soweto. The franchise sector in South Africa is defying sluggish economic conditions and will continue to provide sustainable business opportunities for entrepreneurs. More excitingly, 88% of franchise brands currently operating within the country were created and developed here. At Moyo, we have an opportunity for a passionate franchisee to operate a new store on an iconic Soweto site which is of both historic as well as traditional significance. A franchise...

Ethel Nyembe Buying a franchise may seem like a short cut to business success. However, being a franchisee also comes with great responsibilities. As a result, it pays to ask the right questions so that you know exactly what your long-term obligations will be, especially when it comes to ‘freshening-up’ your franchise outlet. “Successful franchised outlets attract a lot of customers. It is inevitable that over time, the kitchen, and its appliances - and most importantly to patrons - the customer service areas will show ‘wear and tear’ and begins to look worn-out. It is when the franchisee is unexpectedly faced with the responsibility of freshening up the outlet, which can often be costly,” says Ethel Nyembe, Head of Small Enterprise at Standard Bank. “Many people who buy franchises, whether they are new or well-established outlets, do not realise that there are often contractual obligations placed on them regarding the refurbishment of their facilities. These can require that a...

Lloyd Ball Keeping up with the pack is essential, but leading the pack and staying ahead of it is where the game changes. How does one ensure that your customers have an exceptional experience when dealing with your company? A Gartner 2012 study showed that the top business priorities for CEOs over the past five years has been retaining customers, attracting new customers and cost reduction. But today customers demand a lot more than good service or a nice product. The reason for this, is twofold. Firstly, as Generation Y has moved into the consumer market, they expect us to know who they are and what they want. They are critical, outspoken and demanding. Secondly, with the rise of mobile technologies and the fast rate of technological innovation, this consumer-generation is also hyper connected - telling their friends and families about their experiences with your brand on every available social media platform.  Today's consumers are more demanding; exposed to an array of ...

While owning a franchise is a less risky approach than starting something from scratch, there’s no guarantee that it will work. “If you’re thinking about starting a franchise there are a few things you should know before you start the process,” says Morne Cronje, Head of FNB Franchise. You’re not alone You’ll be running your own business, but you have a network of franchisees and franchisors who you can go to for help and support. They are there to help and guide you, so make use of your network because that’s what they’re there for. Do it for the right reasons You’re going to be investing your time and your life into this business, so don’t do it for anyone else, but yourself. Some people go into franchising so that it’s something they can pass on to their kids, who might not even be interested in franchising. Becoming a franchise owner is not a decision to take lightly. If you don’t do your homework and have a proper business strategy, your business will not succeed.  C...

The Sunday Times, in conjunction with FNB, is fostering entrepreneurial spirit in KwaZulu-Natal by inviting entrepreneurs to participate in the Sunday Times FNB Shark Tank – a tough Dragon’s Den-like contest that encourages entrepreneurs to pitch their big ideas and business plans to prominent business personalities, who will select a winner. The previous Shark Tank event attracted nearly one hundred entries, shortlisted to ten very ambitious finalists says Greg Ardé, editor of Sunday Times’ SPICE, who is expecting the new competition to be even more ferocious because of the prize:  the winner will receive coaching from some of the province’s best business minds, media exposure, and bank assistance from FNB, all to the value of R150,000. “The Sunday Times and FNB are putting their considerable muscle into this initiative. We need to encourage entrepreneurship in KZN. The finalists will get great exposure through the Shark Tank. The winner will also get financial support and a...

Before entering the potentially lucrative franchise business, book a seat at the 1st Full on Franchising Theatre at BEFE. At the Business Entrepreneurship and Franchise Expo 2015, presented in partnership with Eskom , entrepreneurs will have the opportunity to research hundreds of business opportunities, including many top franchise opportunities. To help prospective franchisees understand  a variety of franchise models, important strategic considerations and the laws regulating franchises, SA Franchise Warehouse and BEFE will present the ‘ Full on Franchising Theatre: In Business Forever ’ Theatre, hosting  in-depth strategic  workshops throughout the four days of the expo.  Buying a franchise is an exciting opportunity to build your new business on the successes of an established brand.  But not all franchise models are the same, and not all opportunities are all they appear to be. Belinda Bradley , Training and development director at SA Fran...

Costing South Africa an estimated R930m a year, commercial and white-collar crime is on the rise in South Africa - especially among senior to top management. Just recently, a business was forced to close its doors after its finance clerk stole over R1 million, thereby impacting its productivity and turnover, and ultimately the entrepreneur, as well as the staff’s livelihood.   Gillian Wolman, Head of Litigation at Risk Benefit Solutions (RBS) , an independent insurance and risk specialists, warns that as economic conditions tighten, more South Africans are struggling to meet their financial obligations thereby increasing temptations of such crimes. “Internal crime is one of the most serious threats to the stability of a company, and despite employers’ efforts to secure assets, the occurrence of these incidents is increasing. “This type of crime does not necessarily occur instantaneously, but often it is a gradual process that, if done meticulously, may only be discovered at a...

Food and beverage holding group, Fournews, announced that it will be continuing its expansion into Africa with another five stores in Africa expected to open their doors, during the 2015/16 financial year. With their presence already firmly placed in Windhoek, Gaborone, Borrowdale in Harare, Dar es Salaam and their recently opened store in Kilimani, Nairobi the brand has recognised the vast opportunities of the untapped African market. News Cafe’s African expansion includes a second store in Harare, Zimbabwe due to open later this year as well as a second and third store planned for Nairobi, with the build shortly to commence in Sarit Centre, for its expected opening in the latter part of October this year. New territories are already in the planning phase with partners confirmed in Uganda and Nigeria. The first cross border store opened back in 2003, when Botswana became the first African country, outside of South Africa, to experience the News Cafe vibe. The brand has since ...

2015 Sanlam/Business Partners Entrepreneur of the Year® finalists announced  Christo Botes After much deliberation and debate, the judges for the 2015 Sanlam / Business Partners Entrepreneur of the Year® have announced the 15 finalists who will advance to the next round of the competition, with the overall winners to be announced at an awards ceremony in September 2015. According to Christo Botes, spokesperson for the 2015 Sanlam / Business Partners Entrepreneur of the Year® competition, the finalist judging process was extremely challenging this year due to the number of high quality entries received. He says that the entrants have once again provided the judges with a vast variety of thriving businesses to select finalists and winners from.  “The judges were seriously impressed by the quality of entries received this year, which have set a precedent in terms of entrepreneurial talent and success in South Africa.”  Botes says that they received entries fro...

Domino’s Pizza recently celebrated the opening of its new store on the corner of Sefako Makgatho drive and Dr Swanepoel road in Montana, Pretoria. This is the 50th store to be opened in South Africa since the brand was licensed to Master Franchisor, Taste Holdings, in April last year. Domino’s Pizza is considered the world’s leading pizza delivery brand in both store numbers and unit sales, and has over 10,800 outlets in more than 70 countries. The Group delivers more than 1 million pizzas daily worldwide and is the market leader in 38 markets, including the U.K., India, Mexico, Australia, South Korea, Turkey and France. Last year, Taste Holdings announced that it had signed an exclusive 30 year master license agreement to develop the international Domino’s Pizza brand, initially in seven Southern African countries, including South Africa, Lesotho, Swaziland, Namibia, Botswana, Zimbabwe and Mozambique. “We are excited to be opening this 50th store in the suburb of Montana. I...

Candice Sutherland The recent hijacking of a courier van carrying South African citizens’ UK visa application forms has brought to the fore the issue of liability for the loss of these documents, especially if these documents containing sensitive and personal information are used to commit identity theft.  This is according to Candice Sutherland, Business Development Consultant at SHA Specialist Underwriters – the largest liability underwriting management agency (UMA) in Southern Africa – who says it is crucial for businesses dealing with people’s personal information to ensure the safety and security of those documents. “This is particularly important in light of the rise in identify theft, paired with the pending implementation of the Protection of Personal Information Act (POPI).” In this case, the custodian of the information is the British High Commission – that is who the applicants entrusted their documentation to, says Sutherland. “However, it appears that the couri...