Budget Speech positive for Small Businesses Ethel Nyembe Small businesses in South Africa can breathe a sigh of relief following Finance Minister, Nhlanhla Nene’s announcement that businesses with turnovers of below R1 million a year will have their tax rates reduced from 6% to 3%. Ethel Nyembe, Head of Small Enterprise at Standard Bank says the incentives will help small businesses to establish their businesses more firmly and increase profitability. The practical benefit of reducing the tax rate will be on reducing operating costs for SMEs, who will be able to plough the windfall back into their businesses. “Making matters even more attractive for SMEs is the move by SARS to have small business desks set aside at key offices - this will vastly ease the red tape that previously posed a challenge for SMEs.” Although no details were supplied on how the R3.5 billion being allocated to the Small Business Ministry will be utilised on the ground, it is encouraging to note that

Domino’s Pizza proves a hit in Rivonia The South African public’s beyond-expectation response to the arrival of Domino’s Pizza in the country proves that the introduction of a global pizza brand that is loved by millions of people around the world, has been long overdue. Since opening the first Johannesburg store in Rivonia, Domino’s Pizza has attracted pizza lovers in their numbers, who first came to try out the new brand and who keep coming back to savour their choice of a range of delicious hand-tossed pizzas made with fresh dough. Domino’s Pizza is part of the South African success story, Taste Holdings which is the exclusive master franchisee for the Domino’s Pizza brand in nine Southern African countries including South Africa, Lesotho, Swaziland, Namibia, Botswana, Zambia, Malawi, Mozambique and Zimbabwe. The Twitterverse is abuzz with comments from well satisfied customers. Ziska de Jager tweeted: “Dinner with friends. Having a Vegetarian Deluxe from Rivonia Village

Customisation trend impacts QSR sector In a world where everyone wants to make their own personal mark, customisation is a burgeoning global trend. Personalised cars, cell phones, diets, calendars, gifts and jewellery are the order of the day, and not forgetting your Facebook page and those cola cans with your own name on them. Maxi’s marketing manager, Yolandi Ferreira says consumers today want to create their own unique products in order to enjoy a shopping experience that reflects their personalities and that this trend is also impacting the QSR (Quick Service Restaurant) sector. Our lifestyles are pressurised and amid the daily grind of earning a living, personal expression is a pleasant and desirable escape that confirms we are still individuals amid all the noise of daily life. Having an element of choice can make us feel empowered and affords a sense of control. Research has revealed that more than 70% of consumers are likely to become repeat customers if they believe the

Staff training builds skills, loyalty and profits in small businesses Ethel Nyembe In many small businesses, training is regarded as a luxury; something that cannot fit into the average day. Although the focus of any small enterprise should be meeting customer expectations, it is training that can improve customer experience and boost profits, asserts Ethel Nyembe, Head of Small Enterprise at Standard Bank .  “When it comes to training, many people think of a boardroom, expensive technology and high-priced presenters,” says Ms Nyembe. “This does not have to be the case; training that is effective is targeted, but that does not mean costly. The beauty of training is that it does not necessarily mean major costs and time off work for people who are needed to drive sales.” Some economical training options that should be considered are: Product training. This can be provided on the job with an expert - possibly the business owner - providing insights on a regular basis to em

Detailed planning and execution results in hugely successful Domino’s Pizza SA launch  The introduction of Domino’s Pizza to the South African market in October 2014 broke several sales records in the first full week of trade, with sales at the first four stores more than exceeding expectations. Rivonia, the largest of these four stores, served more than 3 000 pizza fans over 5 000 pizzas in the first week, and sales momentum across all four stores has continued into the New Year. Domino’s Pizza is an American restaurant chain and international franchise pizza delivery company. It was founded in 1960 and today is the second-largest pizza delivery & carry out chain in the United States and the largest worldwide, with more than 11,000 corporate and franchised stores in over 70 countries. Taste Holdings now holds the rights as an exclusive Master Franchisee to operate the brand in nine southern African countries.  Beyond South Africa, the brand will be developed in Lesotho

Sandwich Baron success story: from kitchen helper to franchise owner Zoleka Msomi Many people who start out in a business know that opportunities for growth simply don’t fall out of the sky. They don’t magically appear, ready to transform someone’s career. For most working people who are growing their career, success is achieved one step at a time. Zoleka Msomi, new owner of the Sandwich Baron Tuck Shop at Reddford House School, The Hills, knows full well what it takes to start from the bottom and work her way up. Starting off as a member of the kitchen staff in 2003 certainly taught her a few important lessons. She relates the path she travelled to now owning her own successful franchise and shares some tips below. Being successful starts with the dream to be successful. While it might sound funny that one should actually dream of it, sadly, there are many people out there who are content to stay where they are at. For some, reaching the top just means additional work. Althou

What is Franchise Expo Paris? Franchise Expo Paris, the international hub Franchise Expo Paris is the international hub connecting investors from 83 countries with the most renowned franchisors looking to expand their concept worldwide. Franchise Expo Paris is recognized as the world leading and most diversified franchise exhibition with more than 450 franchisors and 37 000 ready-to-invest entrepreneurs. The entire international franchise community including consultants, lawyers, bankers, franchise associations, retail real estate developers converge in Paris to exchange ideas, create new relationships and discuss franchise business opportunities. Franchise Expo Paris is the leading marketplace where investing entrepreneurs can identify and meet the top 450 franchise systems, from 87 activity sectors, looking for their exclusive business partners. This 4 days show & forum will provide you every information about master franchise and network development so that you c

Children, ethics vs big business  It is undeniable that socio-economic factors affect every aspect of the business environment. It is businesses that are able to consider these factors that are able to remain sustainable in the area they choose to operate in. A large portion of multinational companies’ budgets goes into research that provides solutions seeking to make strategies "local".  In years past, the United Nations has been very vocal on the rights of children in the workplace. As more and more organisations start crossing their borders to stamp their footprint on untapped markets, businesses find that they encounter challenges that might not have been present in the areas they originate from. The violation of children’s rights is a serious offence that can ruin the reputation of any business; therefore no business can afford not to look with seriousness the significance of these rights. Head of Sustainability at the Association of Chartered Certified Accounta

SA’S PREMIER ENTREPRENEURIAL COMPETITION OPEN FOR ENTRIES 2015 Sanlam / Business Partners Entrepreneur of the Year® competition launches  Nazeem Martin South African entrepreneurs rarely receive the acknowledgement they truly deserve, and should be praised for the role they play in the creation of jobs and economic development in the country. This is according to Nazeem Martin, managing director of Business Partners Limited , who was speaking in light of the 2015 Sanlam / Business Partners Entrepreneur of the Year® competition launch which took place in Johannesburg today. Now in its 27th year, the pre-eminent entrepreneurial platform continues to pay tribute to the fearless entrepreneurs who remain dedicated to not only fostering a culture of entrepreneurship in the country, but also to their business and staff.  Martin says that considering South Africa’s unemployment rate is at 25% and that it was recently announced that South Africa will have the 8th highest unemploym

AVOIDABLE ACCOUNTING MISTAKES Gary Epstein For any small business owner, staying abreast of the financial developments in your company is difficult, but necessary — and the most important part of this is being organised. By Gary Epstein Most would agree that the accounting function is one of the most important aspects of any growing business. Many successful companies, both large and small, are run by CEOs and MDs with a financial background and there is a reason for this. Staying on top of the financial developments in your company may be difficult, but it is necessary and the most important part of this is being organised. Even if your company doesn't have an established accounting department, it is important to have all your finances organised and recorded. Many businesses fall short of the mark when it comes to financial organisation. Here are some of the accounting mistakes typically found in small to medium businesses and tips on how to avoid them: 1. USING TH

Your Grandmother's Advice to Economists iLead Business would like to provide all the confirmed attendees and other prospective attendees of our next Business Connection with a brief synopsis of the content of the speech that will be made by Dawie Roodt from the Efficient Group and one of the foremost economists in our country. His speech is titled Your Grandmother’s Advice to Economists (The Good, the Bad, the Ugly and the Dumb: Your Grandmother’s Advice to Economists…) We live in a surreal economic world akin to Alice in Wonderland or Winnie the Pooh. In this world of make-belief, normal economic rules and laws have lost their meaning and their purpose. In this surreal world demand and supply, wealth and poverty, and value and savings, are all replaced by the benefits of wealth destruction, the convenience of price fixing, the circumvention of productivity improvements, and the folly of a command economy. We live in the world of the Queen of Hearts, the world of Winnie’

New codes bring new B-BBEE opportunities Petra Rees When companies start their new financial year, part of their planning must involve implementing the revised B-BBEE Codes of Good Practice. The codes include priority elements with sub-minimum criteria, and if these are not met, companies will lose their achieved B-BBEE status. “We have done preliminary assessments for some of our clients and the results speak for themselves. The majority of them sit at a B-BBEE procurement level 4, and if they don’t implement the necessary changes they will drop to a level 7 or even 8. This would have a serious impact on their business,” says Petra Rees, from Lean Enterprise Acceleration Programmes (LEAP), a subsidiary of the PLP Group. “The biggest challenge for companies lies in the area of Enterprise and Supplier Development, with the procurement element forming part of that," adds Rees. If a company has a target turnover of over R50 million for the year, and they are not aligned to