Marketing

Who is your customer?

Marketing is not about chasing any customer at any given price. You have to decide which groups of customers (called segments) are most attractive to the business and are most likely to boost profits. Identifying your market segment involves dividing the market into groups of similar consumers and choosing the most appropriate group for your business. Segmentation is done on the basis of size, profit potential and ...
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Creating loyal customers

Many small businesses spend a lot of time, effort and money into growing their customer base. Yes, this is crucial to your livelihood, but how much time do you spend looking after the customers that consistently come back to you? Attracting a large volume of clients and customers with flashy advertising and discounting should not necessarily be your ultimate. No matter what gimmicks you use, numbers can dwindle depending on the season, the econo...
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2017 Entrepreneur of the Year® competition now open for entries

The instrumental value that entrepreneurs add to the South African economy is indisputable – they are an important cog in the creation of the much-needed jobs in the country. It is therefore encouraging that the challenges and obstacles which impede this valuable sector are receiving some much-needed attention from both the public and private sectors – with the inclusion of small and medium enterprises (SMEs) in the State of the Nation Addres...
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Ten tips for finding the right rental premises for your business

“This is the best time for a business owner to be looking for rental premises in South Africa,” says Stanton Naidoo, COO of Property Management Services at Business Partners Limited. The chances of finding just the right spot at the right price is ideal under the current conditions in the business property sector, which makes it very much a tenant’s market, he says. The choice to rent premises remains a weighty one and the side...
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Warehouse boom takes hold as manufacturing declines

The slow decline of manufacturing in South Africa is making its impact felt in the local property market as demand for factory space wanes. Shane Padayachy, property finance specialist at Business Partners Limited, says one the defining property trends of 2017 is the move away from factory premises to warehouses. More and more owners of industrial property are converting their old smoke stacks into distribution-type premises, and new development...
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Tax terms defined

Before you try to get your taxes in order, it's important be familiar with the technical jargon you're about to be bombarded with. This glossary of tax terms can help you get to grips with that complicated language called Tax. When dealing with your company's taxes, you may feel you need a dictionary for the tax-speak, and explanations for the explanations. Below you will find an alphabetical list of terms you might come across when f...
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‘Now is the time for a pro-SME Budget’

In year that promises better economic growth than that of the past few miserable ones, South Africa’s business owners are likely to follow this month’s tabling of the national Budget with more interest than usual, says Siphethe Dumeko, Chief Financial Officer at Business Partners Limited, the leading local risk financier to small and medium enterprises (SMEs). Any measure that can boost the economy beyond the projected 1.1% growth fo...
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Assessing your company’s financial position

If you're not so clued up about the accounting and financial side of your business, you may not realise how an in-depth financial analysis can benefit your company. Learn how to get the most out of your financial information. You may think that because you have good bookkeeping and accounting processes in place and your cash flow is under control, you can sit back and relax. Unfortunately, you'd be wrong. This is the perfect time to do an in-...
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How good is your credit rating?

No matter what kind of business you have, there will probably come a time when you have to apply for a loan or overdraft to expand your business, buy equipment or finance some other aspect of your operations. This is when having a good credit history becomes very important. Establishing and maintaining a good credit record takes time and can be challenging when times get tough (financially). Paying your debt on time will help you develop a good...
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Batteries recharged? Now is the time to reflect and plan

Business owners who have been lucky enough to pinch a week or two off in December are probably about as rested and fresh as they are going to be for the next twelve months or so. There is no better time for them to take a good look at their business and assess its readiness for the year ahead, says Jeremy Lang, regional general manager at Business Partners Limited. It doesn't matter if your financial year starts in March, which offers anoth...
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