Website Articles

Website articles…
ADHD and Art

Indoor play

When to move a toddler to a bed

Advertorials

Charity articles

Property article

Memory products

 

Website copy Financial Services

http://www.interdirectfinancialservices.co.za

 

Website copy – Entrepreneurship

SECTION 1
THE ABC TO ENTREPRENEURSHIP
MODULE 1
WHAT IS ENTREPRENEURSHIP ALL ABOUT?

By the end of this section you will understand the following:

• Define an ‘SMME’ and identify the contribution of SMMEs to the South African economy
• Understand the barriers to entrepreneurship within South Africa
• Understand what entrepreneurship means
• Understand the traits of successful entrepreneurs
• The skills needed for starting your own business
• Understand the pros and cons of being an entrepreneur

“More entrepreneurial ideas are emerging from within informal settlements who are embracing their environments and pursuing opportunities that offer a service or a product that addresses a need in a creative and unique way. I know, for example, of one venture that utilises basic means to deliver bread in Alexandra. This epitomises creative thinking, a core trait of entrepreneurship.”
Themba Dlamini
Source: http://www.phuzemthonjeni.com

1.1 WHAT IS AN SMME?

SMME stands for small, medium and micro enterprises.
1.2 HOW DO SMMEs CONTRIBUTE TO OUR ECONOMY?

• Micro, very small and small businesses accounted for 27-34% of total GDP in 2006
• The SMME sector grew by 27% between 2004 and 2007
• In March 2007, Africans represented about 71% of the country’s business owners.
• In March 2007, about 45% of women owned and actively managed a business.
• 5 579 767 small business owners, 16 years and older, in South Africa (one in six individuals, aged 16 years and older, generate an income through small business activity)
• Seventeen percent of small business owners have registered businesses.
• For 67% of small business owners, the small businesses they own are their sole source of income
• Two-thirds of small business owners have not completed secondary school education
• One in two small business owners started the business either because they could not find jobs or because they lost their jobs
• Two in three business owners operate their own businesses and do not have any employees
• Apart from the 5,6 million small business owners, small businesses in South Africa provide an additional estimated 6 million employment opportunities

Sources: http://www.thedti.gov.za, Annual Review of Small Businesses in South Africa 2005-2007. Finscope Small Business Survey 2010.

SECTION 2

BUSINESS PLANNING

MODULE 1

GETTING STARTED – THE FIRST STEPS

“Meticulous planning will enable everything a man does to appear spontaneous.” M. Caine

2.1 GREAT IDEA, BUT WILL IT WORK?

Ok, so you’ve looked into entrepreneurship, and yep this is definitely for you! In this section we will give you tools to assess your idea and see if it’s viable. But what if you’re in the situation that you are a born and bred entrepreneur, but you haven’t come up with that winning idea yet? There’s help at hand! Read on!

Help, I don’t have a business idea yet!

Here are some ways to get to that idea that’s locked away in your brain somewhere.

Get a piece of paper and write down every single idea that you’ve ever had. Don’t worry about whether they’ll work or not, just write them down. Once you’ve done that answer the questions below for all of your ideas.

Is there a need for it? Research is important here. If you haven’t done any research, speak to friends, family, contacts and anyone who will listen!

  • Is there a big enough market for it?
  • Does it help someone else?
  • Can that someone else pay for it?
  • If not, who will pay for it? This is whether you can make a profit from your idea or not.
  • Can you do it? Do you have the skills and the capacity to implement it?
  • Is it unique?
  • Do you know how to promote it?
  • Can you sustain it?
  • Can you grow it?

In answering these questions, you will be able to easily see from all of your ideas which is the winner.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: