David Morobe, Regional General Manager at Business Partners Limited It is important for aspiring entrepreneurs to not let their fears stand in the way of starting a business. This is according to David Morobe, Regional General Manager at Business Partners Limited (BUSINESS/PARTNERS), who says that, in light of World Entrepreneurs Day taking place on 21 August, there is a need for more South Africans to take the leap into entrepreneurship. “This is highlighted by the results of the 2017/2018 Global Entrepreneurship Monitor Report, which reveals that while 69 percent of South Africans perceive entrepreneurship to be a good career choice, only 11 percent have entrepreneurial intentions,” says Morobe. He points to a report released by Old Mutual in 2017, which reveals the top reasons that South Africans do not put their entrepreneurial ideas into action. “The reasons cited in this report include a lack of funding (46 percent) and a lack of confidence (16 percent), as well as the...

Gugu Mjadu As 2016 nears an end many begin to re-evaluate the year that was, both personally and professionally. As a result this is typically the time of the year new life and professional goals are developed. This is also characteristically a time when hopeful entrepreneurs consider whether the approaching year is the correct time to pursue their business idea. This is according to Gugu Mjadu, spokesperson for the 2016 Entrepreneur of the Year® competition sponsored by Sanlam and BUSINESS/PARTNERS , who says that many aspiring entrepreneurs spend the festive season break considering possible business ventures, and questioning whether the risk of leaving their steady nine-to-five job to start an entrepreneurial business will be worth it. Mjadu says that this is a valid contemplation given the current economic and market landscape, which may create more hesitation than inspiration where entrepreneurship is concerned. “In an economy awash with threats of investment ratings downg...

Average vs Good in the world of franchising Tanya Spence For anyone wanting to escape the corporate world and the highly competitive job market in favour of running their own business, franchising is an exciting and feasible option. However, National Operations Manager for Sandwich Baron , Tanya Spence, cautions those considering this tried and tested business model to still do their homework well and make sure they are well informed about behaviours in the world of franchising that can make the difference between running a really good franchise or merely an average one.  Franchising opportunities are on the increase all over the world, primarily because this business model is widely believed to be one of the safest and most risk-free ways to start a business and make a long term success of it. But be careful not to expect to buy a “business in a box”, believing that all you have to do is open the doors and customers will come, and that the business will run itself. The d...

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...