The City of Johannesburg in partnership with its banker the Standard Bank of South Africa ; have approved a R250 multi-million rand Working Capital Fund (WCF) to bolster entrepreneurs. The ambitious move will support the City’s economic transformation initiatives such as the SMME Economic Transformation Programmes. Small businesses and entrepreneurs contribute to the creation of many jobs in the country. The boost for small businesses in Johannesburg comes ahead of the City hosting the Global Entrepreneurship Congress (GEC) in 2017. Kgamanyane Maphologela, Group Finance’s Director of Customer Communications says the strategic objective of the Working Capital Fund is to contribute to socio-economic development within the City. “This initiative will amongst others, promote entrepreneurship and develop enterprises to ultimately become mature businesses that can sustain themselves in the long term. A central principle of the Working Capital Fund’s funding philosophy is the collab...

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...

SA SMEs SEEK MUTUAL RELATIONSHIP WITH GOVERNMENT  Christo Botes Despite challenging economic conditions, South African entrepreneurs remain determined to make their respective businesses a success, but what if Government played a bigger role and consulted more widely in improving the chances of success by working more closely with small and medium enterprises (SMEs), in order to better understand the direct implications of policies on business owners. Imagine the potential of entrepreneurship in the country with a mutually beneficial relationship between the private and public sector? This was the general consensus from an alumni gathering of over 50 seasoned South African business owners who have won various categories in the Sanlam / Business Partners Entrepreneur of the Year® Competition over the last few decades. While entrepreneurs were vocal about the challenges within the country’s entrepreneurial environment – such as power cuts, labour unrest, insufficient infrast...

The New Entrepreneur A practical marketing guide for growing your business now. The world today is filled with opportunities and people are redefining what it means to be an entrepreneur. Whether it is successfully launching a breakthrough idea, identifying a gap in the market to buy a franchise or existing business, or establishing a consulting or advisory services business, today’s NEW entrepreneurs share a passion to pursue a business of their own. We all have an entrepreneur somewhere inside us. Do you have the desire to exercise your entrepreneurial spirit, but are unsure how to take that first step? Then The New Entrepreneur is for you… If you are already a business owner, you may benefit from its practical tips and the many insights shared by other successful entrepreneurs. This practical marketing guide reveals the strategies that entrepreneurs, who have built sustainable businesses, have implemented to overcome their business and personal challenges. Gain insights...

Spouse’s support key when taking the entrepreneurial leap When your partner decides to leave a secure job to start a business, there is often a lot of uncertainly on whether it is a good choice and how it will affect the relationship. One thing is for sure, though: to make it work, to reach entrepreneurial success, you will need to work together, trust each other and most importantly, set financial boundaries. Ethel Nyembe, Head of Small Enterprise at Standard Bank says, “When you are used to a steady income, the unpredictability in your finances can be really stressful and careful money management is vital in this situation. While your partner may be excited about the future, you are perfectly within your rights to get involved with the financial decision-making. For example, if he/she wants to cash in your savings or increase the mortgage on your home to fund the business, you can and should draw a line in the sand.” In most cases, starting a business from nothing can place q...

SHOULD I QUIT MY JOB? If you have dreamed of becoming your own boss, bear in mind that 40 is considered the point of no return, or rather — the point of no departure. Without considering your lifestyle, academic qualifications, balance sheet or ability to own and manage your own enterprise, the age of 40 is generally accepted as the point of no return, or rather — point of no departure. At 40 years of age your income, as an established professional, has probably reached a point where you are highly unlikely to earn better in the next five years, by venturing into your own business ­— not impossible, but unlikely.  Waiting for 40 to draw closer before you consider a move also indicates that you are naturally risk averse and less likely to be comfortable in a self-employed environment. The freedom of being self-employed, the satisfaction of generating employment and the capacity to grab that next income earning opportunity when it presents itself, is what entrepreneurs thr...

What to consider when taking a business to the next level The reluctance to let go of control can be a barrier to the growth of many businesses  Ravi Govender Becoming a successful entrepreneur means investing time in a business and using your passion and talent to achieve your dreams. It is no wonder that many business owners find it difficult to consider bringing in investors and giving away part of their businesses when cash is required to expand and grow into new markets.  “Rather than losing control of his or her business, the entrepreneur will often make an emotional decision that could limit opportunities for growth. This will result in the business losing a competitive edge against its rivals,” says Ravi Govender, Head of Small Enterprises at Standard Bank, when highlighting the issue of ‘control versus scale’ featured in the second episode of the Standard Bank 'Think Big - Building Business Champions' show.  Reality and the desire to fulfil a dream wi...

When Charlie Oliver needed a new challenge following some five years’ experience at an international franchising group, he decided that ‘local is lekker’ and put his management skills and passion for people to the test by purchasing his own Scooters Pizza store in Milnerton. Oliver summarises his management approach as creating equality for himself and his staff. “A previous employers’ slogan of: ”People capability first and profitability will follow” is one that impressed me immensely and it has stuck with me since then. By allowing employees and management to help run the business processes and be more actively involved, creates an opportunity for them to meet their personal needs, and also my business goals.” He believes that the key elements to running a successful store include skilled and motivated people, sound management and financial practises, and innovative products that meet and exceed customer expectations. CEO of Taste Holdings, Christo Calitz expresses his confi...

KAUAI’s new Canal Walk store boasts the group’s second fully-green new-look store. “We are very proud to introduce our new eco-friendly stores to the market, bringing us closer to staying true to the heritage of the Islands” says John Berry, founder and Chief of Innovations at KAUAI. “We brought in the Pattichides & Partners design team to help refine the new store image and are very pleased with the results.” The main contributors to this sustainable store design include solid Consol timber “off cuts” for all of the counters, with all of the counter tops being made of 75% recycled materials. With lead free eco-friendly paints being used on all surfaces.  Simplified screed floors were used rather than wasting costly tiles that get chipped up in a few years’ time. KAUAI’s new Greenline cappuccino machine use 48% less electricity, and all signage & lighting is powered with LED and low voltage lights. The design team was tasked with developing a modern Hawaiian genre that...

The team at Sandwich Baron Randburg welcomed new owners Vigeshen Moodley and Nadiah Maharaj to the store on 1 March 2013. Since taking over, the pair has ensured a remarkable turnaround in the store’s service delivery. Moodley, who has spent approximately 12 years in various franchises in the fast food industry, is also no stranger to the Sandwich Baron family, having spent his time before opening the store as a proud Sandwich Baron manager at a different location. Together with Maharaj, the two have done an exceptional job in bringing stability to the store to ensure that the team is delivering service that exceeds the standards of the franchise requirements. “The Sandwich Baron franchise has always appealed to me because I share and believe in their values. I have also found that the marketability and reputation of the brand as well as its growth potential, make it a feasible investment,” shares Moodley. Maharaj notes that the members of the community have been very welcoming ...

There is never a dull moment for taste buds when enjoying a meal at The Fish & Chip Co. The fast food extraordinaire of traditional English style fish and chips overhauled its menu with the addition of scrumptious new dishes that will be served as of the end of May. Lovers of The Fish & Chip Co. will know that the menu is not only limited to standard hake and chips as other mouth-watering options such as russians, viennas and calamari are also firm consumer favourites. As of this month, however, customers will be given even more variety that is sure to keep any food lover hooked. The biggest hit on the updated menu is a speciality dish called the Gatsby. Originating in the Cape flats in the Western Cape, this is a true South African dish that will leave an unforgettable impression and is sure to quiet the hunger pains. This meal combines the best of The Fish & Chip Co.’s menu combined in one long bread roll (similar in the size of a French loaf or baguette) which is cu...

Tommy Roux made the decision to pursue a career as a Maxi’s franchisee in the middle of 2009, he chose Maxi’s as a brand, because he believed that this exciting business opportunity offered stability and the potential for financial growth. He also wanted a store not too far from his home in Pretoria, as he believes that a person should not run a restaurant business too far from home as it is a time consuming industry to be involved with. Before becoming a Maxi’s owner, Roux was a Senior Manager in the exports division of a well-known Japanese car manufacturer that looked after the African market. Roux journey in becoming a multiple store owner started when an opportunity came his way to take over two existing Maxi’s stores, as Roux recognised the potential immediately and now is the proud owner of not two but three Maxi’s restaurants. “The experience gained from my first store enabled me to take on the franchising challenge with confidence.  After owning one store, I wante...

Developing consistent and competitive costing models and structures are central to ensuring a food franchise can achieve short term profitability and sustainable success. Sandwich Baron Development Manager, Patrizio Nebuloni , elaborates further on this subject.  Undoubtedly, setting and determining prices of items sold to customers is a challenging aspect of running a successful food franchise business. While franchises wants to offer competitive prices that are lower than their rivals, this strategic imperative should be tempered by the notion that pricing needs to be profitable, in order for a franchise to survive in the long term. Every pricing decision should result in a win-win outcome in which customers obtain value for their money, while businesses still make a reasonable profit. As a starting point, the most efficient and recommended way to determine a selling price is to source the Cost of Sales amount, and multiply this figure by two and a half. Generally, food an...

The Maxi’s food group, a division of Taste Holdings, has started with their marketing campaign for the Mpumalanga region and is aiming to drive transactional growth through all of their identified marketing initiatives. The biggest focus area at present will be on primary school children in the region. The kids, and the schools that they represent, will be encouraged to express their creativity by means of their own marketing campaigns as they will need to design an advert for Maxi’s to win. Schools will be sent entry forms for the kids to take part and the aspiring creatives will be urged to bring their completed advert to their nearest Maxi’s store. Weekly winners will be chosen out of the two categories that have been allocated, namely that of children in Grades 1 to 3 and those in Grades 4 to 7. Schools will also be rewarded as the school with the most entries will win a cash prize of R5,000. An overall winner will be chosen from the accumulating weekly winners. Their advert w...

The SARB is set to announce its decision on whether or not to decrease the repo rate even further, this Thursday, the 23rd of May. The repo rate has been stable, at an unprecedented low of 5%, since the Monetary Policy Committee meeting of July 2012. At present no one is seriously expecting Reserve Bank governor, Gill Marcus, to lower either the repo rate or the prime interest rate (which currently sits at 8.5%) before October, at the earliest. "The question isn't whether the MPC will lower the repo rate now, which I don't expect them to, but rather whether now isn't perhaps the time to do it", says Jan le Roux, CEO of Leapfrog Property Group. Andre Mellet, economics lecturer at the Northwest University's Vaal Triangle Campus, told Business Day that there are a number of compelling arguments for a rate cut: the growing unemployment figures, the slow growth rate of the SA economy as well as the deficit on the government's budget are all good reasons to...

Did you know that nearly half of the world’s entrepreneurs are between the ages of 25 and 44?  This is one of the key findings of the GEM 2012 report from Global Entrepreneurship Monitor. The report also found that 25 to 34 year olds demonstrate the highest rates of entrepreneurial activity, in all geographic regions surveyed, including South Africa. This information is mission-critical for Business Opportunities and Franchise Expo exhibitors, who are directly targeting entrepreneurs. The expo, which is owned and managed by Thebe Exhibitions and Projects, and presented in partnership with platinum sponsor, Eskom will take place from 12-15 September 2013 at the Coca-Cola Dome in Northriding, Johannesburg. According to Lynn Chamier, general manager of the Business Opportunities and Franchise Expo, “Knowing the predominant age bracket of your target audience empowers you to customise your exhibit, the information you disseminate and the tone of your one-on-one engagements with ...

The Maxi’s franchise restaurant chain, a division of Taste Holdings, recently launched their marketing campaign for the Limpopo region that is aiming to drive transactional growth through all of their identified marketing initiatives. The food franchise, that turns 20 years old in 2013, will be offering some tantalising in-store food promotions, which will include the likes of a Mixed Grill as well as their national Mexican promotion. Aside from experiencing the tasty food at a Maxi’s restaurant in the Limpopo region, one lucky Maxi’s food lover can stand the chance to win an all-inclusive and all-expenses paid trip for two to the tropical island of Zanzibar. This island paradise is located off the coast of Tanzania and situated in the Indian Ocean near East Africa and is characterised by beautiful sandy beaches with fringing coral reefs, as well as the magic of the historic Stone Town - said to be the only functioning ancient town in East Africa. This hotspot offers many treasures ...

With an overwhelming love for pizza, Petrus and Cecile van der Merwe, along with their son, Heinrich, decided to take this passion to the next level and become the new owners of Scooters Pizza Menlo Park. The van der Merwes’ - strong family values are perfectly aligned with the Scooters Pizzas brand’s principles of integrity, innovation and respect.  They believe if you manage your life and run a business with these three values in mind, you are already halfway on the road to success. In addition to solid morals and ethics, Petrus’s financial know-how gained from 32 years’ experience in the banking industry, will contribute to the family’s goals of running a prosperous business. Since taking over ownership of the Menlo Park store, the family has secured eleven jobs, and created one additional job opportunity. Petrus upholds that motivated employees play a major role in contributing to the profitability and productivity of any business. “My management approach does not only...