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Archive | SMEs

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How to build a small business into a big, strong brand

Establishing a strong brand does not necessarily require a large marketing budget, but rather a clear plan and a clear brand-building objectives, a South Africa-based expert said. “A brand is a way of defining your business identity to yourself, your team and external audiences. It is essentially the sum total of the experiences that your […]

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Why family businesses fall apart

In an economy where jobs are scarce, inheriting a family business, especially those traditionally known for strength and economic resilience, can be considered a privilege and an advantage. Figures by the Family Firm Institute reveal that approximately 30% of family businesses survive into the second generation, 12% into the third generation and only 3% into […]

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SME failure

10 reasons why small businesses fail in Africa

There are top 10 reasons why most small businesses fail: inadequate business planning, insufficient capital, lack of management experience, poor location, poor inventory and cash flow management, over-investment of fixed assets, poor credit arrangements, personal use of business funds, competition or lack of market knowledge, and low sales, or not pricing properly. This is according […]

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Paris conference to discuss Africa’s digital economy

An international conference – Rencontres Africa 2016 (Meetings Africa 2016) – due to take place this month (22-23 September) in Paris, France, will discuss ways of pushing Africa’s digital sector make a significant impact on its economy, and therefore compete with the rest of the world. Despite the winds of digital revolution blowing strongly on […]

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women in business

South Africa’s gender gap in entrepreneurship declining

Gender gap in entrepreneurship in South Africa is said to be on the decline as more women are going into formerly male-dominated industries such as engineering. Additionally, sectors where female entrepreneurs have already established a sizeable presence, such as tourism, education and the beauty industry, continue to be well-represented in the company’s investments into women-owned […]

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Youth entrepreneurship declines in South Africa

Youth entrepreneurship has considerably declined in South Africa, decreasing from 543 000 youth entrepreneurs in 2014 from 609 000 five years earlier, according to a recently report titled Social Profile of Youth 2009-2014. To reverse this trend, experts have urged the youth in Africa’s second-largest economy to be equipped with the necessary skills and knowledge […]

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