Wednesday, 29 March 2023

for Business Owners

The continent of Africa is seized with a catastrophe whose antidote seems elusive with the passage of time – Youth Unemployment. Many see it coming, Governments across the continent continue to complain about it, youths are not only anxious but disappointed that generations ahead of them seem to be setting them up for failure through selfishness. The ticking time bomb cannot be ignored forever.

At some stage most entrepreneurs have the desire to start their own businesses but don’t really know how to manoeuvre. There is one key area where entrepreneurs seem unsurpassed in self-inflicting damage: not having to calculate the cost of implementing their business plan and lack of awareness on the benefits of asset-based loans.

It is very important to have a good business plan in South Africa, because the markets are not as clear-cut as they are in advanced markets in Europe. A South African Start-Up requires more planning just to acquire the capital, because there is need to ensure that the business is executable, measurable, and most importantly, profitable.