Thursday, November 21African Digital Business Magazine

Tag: Small Businesses

Game-changing strategies for small businesses
19Jan By Africa BusinessNo Comments
Startups

Game-changing strategies for small businesses

By Catherine Wijnberg When times are troubled and uncertain, businesses need to evolve and remain competitive. Developing a change strategy process can be overwhelming but it does not need to be complicated.  Here are four easy steps to a change strategy process that will give your business purpose and direction: Set your intention Create quiet, calm time to assess the situation. Use this to gain mastery of your personal space and eliminate the confusing rush of thoughts and inner busyness that clouds your wisdom. This quiet time will open your mind to think and see clearly. Methods such as meditation, walking in nature or breathing exercises are excellent tools. In my experience, most entrepreneurs believe they are pretty good at setting aside time to review the situation. However, t...
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12May By Africa BusinessNo Comments
South Africa News, Tech

The value of digital transformation for SMEs

Digital Transformation refers to the overall change of organisational activities aimed at leveraging opportunities created by digital technologies and data. This requires companies to profoundly transform their business models, infrastructure, processes and culture, in order to steer them toward finding new sources of customer value. The use of digital technologies has transformed commerce and how businesses interact with their customers. To adapt to this changing world, organisations must embrace digitisation. “For small businesses just getting started, there’s no value in setting up your business processes and transforming them later. You can futureproof your organisation from the get-go. Thinking, planning and building digitally sets you up to be agile, flexible and ready to grow,” say...
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6Apr By Africa BusinessNo Comments
South Africa News

Setting South Africa’s small and medium-sized enterprises Up for Success

South Africa’s small and medium-sized enterprises (SMEs) represent more than 98% of registered businesses, employ between 50% and 60% of the country’s workforce, and are responsible for a quarter of job growth in the private sector[i]. “It’s no wonder then that these companies are the country’s hope for economic recovery. But what is being done to ensure their success?” asks Andrew Hardie, Chief Executive Officer at Pay@ - a leading payment aggregator and provider of secure payment solutions. South African SMEs have the highest failure rate in the world[ii]. In fact, 70% to 80% of small businesses fail within five years[iii]. Studies conducted by the Universities of the Free State[iv], Limpopo[v] and Cape Town[vi] have found that a lack of business capabilities (including skills and tools)...
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New DIY Toolkit Will Help Protect Companies Reputation in time of Crises
28Mar By Africa BusinessNo Comments
Events, South Africa News

New DIY Toolkit Will Help Protect Companies Reputation in time of Crises

New Crisis Management DIY toolkit launched to help small businesses protect their reputation and their credibility without spending huge budgets on consultants or 3rd party experts. A new DIY tool to help small businesses save money and protect their reputations in time of crisis has been launched by Reputation Management Consultant, Deon Binneman also known as the Reputation Go-to Guy. It has been designed to give businesses, a blueprint to devising and implementing their own Crisis Management & Crisis Communication plans using a step-by-step and self-study approach. It was developed after years of research with many companies that found that many SMEE businesses wanted to plan and prepare for crisis situations but could not afford the services of PR agencies, management consultants ...
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Why ecommerce matters for small businesses in SA
14Mar By Africa BusinessNo Comments
South Africa News

Why ecommerce matters for small businesses in SA

There has been a permanent change in the way that people shop and, in turn, the way that businesses need to operate. In the absence of brick-and-mortar stores being open during the lockdown, as well as a general fear of crowded malls when things were able to re-open, South Africa’s ecommerce sector exploded. According to Trevor Gosling, Co-founder and CEO of Lulalend – financing partner to South Africa’s small- to medium-enterprises (SMEs), he has seen a phenomenal growth in ecommerce businesses who have connected with them for SME financing. Between the period of October 2020 and February 2021, Lulalend saw an 86% increase in loans made to ecommerce businesses and online retailers in comparison to the same period between 2019 and 2020. “The loans were strongly linked to growth-related req...
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11Feb By Africa BusinessNo Comments
Business

How installing a conveyor belt system could help your small business

Conveyor belt systems originated all the way back in the 1800s, and these days are an essential part of almost every industry in some form or another. This invention has transformed the way that we transport goods within a small area, as well as sort them, package them, and process them. We often think of conveyor systems as only being relevant for large-scale businesses. However, these days more and more small businesses are beginning to see the advantages of having such equipment installed. Read on to find out more about what a conveyor belt system is and how having one could help your company. What is a conveyor belt system? Simply put, a conveyor belt system is a piece of machinery that transports materials or objects from one point to another. However, this doesn’t quite do justice to...
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