Business wellbeing

Taking holidays seriously

In the mind of many entrepreneurs there is a short-lived conflict that flares up at least once a year when the family starts making plans for the holiday. On the one hand, they know that a holiday would do them good. On the other hand, there are a million issues still to sort out in the business. Inevitably, the business wins the argument, because those million issues that need to be sorted out are always loud and urgent and the consequences of...
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Getting to know your target market

To ensure that your business idea stands out from the rest, it is important to know your target market. This can be done by considering the following questions first: Is the market saturated? Does your area really need the services you are offering? What is the competition offering? What do they do well? What’s unique about them? Can you reach your target audience? Once you are sure of your business idea, you need informa...
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Your employees are the first impression

A major aspect of doing good business is that all-important "competitive edge". But don't look too far afield for ways to do this. Your biggest selling point could be the face your business presents to the outside world, and most often, that would be your employees.  A company's image can be its greatest asset or its biggest downfall. Large corporate companies know this too well and spend huge amounts of money on their c...
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Everyone has a role to play in stimulating entrepreneurship

Very often, any discussion about stimulating entrepreneurship devolves into a litany of things the government should be doing, but in reality there is very little that government can do on its own to persuade more South Africans to start their own businesses, and to support them to grow and prosper, says Byron Jeacocks, Business Partners Limited regional general manager. Entrepreneurship is everyone's concern – parents, teachers, accountan...
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Becoming a mentor

If you are a veteran in the SME sector, are running a very successful business or just feel you have something to offer a budding entrepreneur, you may consider becoming a mentor. Let's look at the characteristics of a good business mentor. Mentorship is all about giving back and contributing to the growth of someone who may be where you were as a would-be business mogul. Most entrepreneurs who are starting out or struggling, can't afford t...
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The positive power of mentorship

In today’s challenging economic environment, mentors play a key role in growing businesses, supporting entrepreneurs and enabling SMEs to survive and flourish in tough trading conditions. Business Partners Limited, South Africa’s leading risk financier in South Africa, has witnessed businesses on the verge of bankruptcy recover, and be propelled to new levels of success as a result of some guidance from a mentor. Although ...
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Mentorship key to preparing the next generation in a family business

Family businesses are renowned for their strength and resilience, but even so, it is estimated that only about 3% of family businesses survive after the third generation. Survival or demise hinges more often than not on the extent to which the next generation is trained and prepared for running the business, says Christo Botes, executive director of Business Partners Limited. Anyone born into a successful family business can be considered ...
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SA tourism’s good run looks set to last

There are no signs that the gravity-defying performance of the South African tourism is likely to subside any time soon, says Anton Roelofse, regional general manager of Business Partners Limited (BUSINESS/PARTNERS). Neither the stagnant local economy of less than 1 percent growth, nor a sluggish global economy of less than 3 percent growth, nor even the bureaucratic hurdles imposed for a while by the Department of Home Affairs on internat...
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The business of tourism

Tourism is one of the largest industries in South Africa and is considered one of the major booster of the economy. With South Africa becoming a destination of choice for sporting, business and cultural events, a wide range of opportunities exist for entrepreneurs in the travel and tourism industry. There is a common misconception that the tourism industry is mainly about providing accommodation to tourists, such as guesthouses, lodges, bed n br...
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Four steps to create an inclusive work environment for your business

Business owners are lucky that they create their own work environment, unlike managers in large corporations who step into rigid, pre-created cultures. However, many business owners allow the working culture in their businesses to flow organically from their personality, without giving much thought to how it could be perhaps better engineered. Kgomotso Ramoenyane, executive general manager: human resources at Business Partners Limited (BU...
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