Tag: economy

Coffee gurus claim Small Business Entrepreneur of the Year® award

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Andrew-and-Chris-Brown

Andrew and Chris Brown, co-founders of The Daily Buzz, an upmarket and speciality chain of coffee bars which service the corporate workplace, was awarded the 2013 Small Business Entrepreneur of the Year® title in the annual Sanlam / Business Partners Entrepreneur of the Year® Competition, which was held in Johannesburg on Wednesday, 4 September 2013.

The Daily Buzz was established in 2006 by brothers, Andrew and Chris Brown, after Andrew spotted a gap in the market for a superior, and easily accessible, coffee spot while working as a risk professional in Johannesburg. The idea to provide quality coffee in such a way that allowed employees to return to their workstations quickly and efficiently was then born.

As part of the start-up plan, Chris trained at the London School of Coffee, as well as other institutes situated in Italy, the United States and Africa in order to perfect the art of delivering a premium coffee experience.

Over the years The Daily Buzz has successfully secured a niche in the market by providing a trendy and convenient spot for employees in corporate buildings to enjoy quality and competitively-priced speciality coffee and fresh food. Another aspect which sets the business apart from its competitors is its on-going skills development programmes and training which is provided to all staff on a frequent basis to ensure exceptional service and product expertise.

Since opening their first coffee bar in the Standard Bank headquarters in Johannesburg with just two employees in 2006, The Daily Buzz has grown to seven outlets and employs approximately 60 people.

Andrew Brown says that it is a great honour for him, and the business, to be recognised by Sanlam / Business Partners Entrepreneur of the Year®. “As entrepreneurs we so often achieve a goal only to replace it with a new goal and neglect to take stock and recognise how far we have come, and how successful our business has become.

“This award is recognition for our business’s success, and provides us with an opportunity to sit back for a brief moment and acknowledge our achievements.”

With five fellow finalists recognised in the small business category, Andrew and Chris were awarded the title as they perfected a simple product, added to it a healthy dose of service, and created a brand which is highly sought after, says Stefan Beyers, a member of the 2013 Sanlam / Business Partners Entrepreneur of the Year® judging panel. “Ultimately what made The Daily Buzz stand out was the combination of a high quality product and a determined focus on customer service and experience.”

Andrew Brown believes that entrepreneurs play a valuable role in the economy by creating sustainable businesses and much needed employment. “Entrepreneurs take risks by converting ideas into a tangible business and by doing so create great value for the economy by providing employment and up-skilling opportunities for employees. At the same time they also create value for customers by providing a new or better service than what existed before an entrepreneur’s business was born,” concludes Brown.

For more information on The Daily Buzz, please visit their website www.thedailybuzz.co.za

2013 Sanlam / Business Partners Entrepreneur of the Year® winners named

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Following an intense judging process and assessment of the 14 successful entrepreneur finalists, the 2013 Sanlam / Business Partners Entrepreneur of the Year® competition winners were announced at an awards ceremony held this morning in Johannesburg.

The overall 2013 Entrepreneur of the Year® winner is Tommy Makhatho, owner of BiBi Cash & Carry, a retail group situated in the rural area of Qwa Qwa in the Free State. Makhatho was also awarded with Job Creator of the Year® title due to the significant contribution he has made in the local community by providing jobs to more than 680 employees.

According to Nimo Naidoo, project manager of the Sanlam / Business Partners Entrepreneur of the Year® competition, Makhatho was awarded the overall title because of his ability to build, and grow, a sustainable business despite facing strong competition from established supermarket chains in the area, as well his determination to continuously seek ways to increase his bottom line.

The competition, widely considered to be the pre-eminent of its kind in South Africa and now in its 25th year, celebrates excellence in entrepreneurship and aims to honour, benefit and uplift South African small and medium enterprises (SMEs).

Naidoo says that the competition is committed to playing a crucial role in elevating the standard of entrepreneurial activity in the country, as well as fostering a national entrepreneurial spirit. “Our goal is to promote entrepreneurship as a viable and exciting career path.”

Other 2013 category winners include Jonathan Pepler of Silverline Group, who was awarded the Emerging Entrepreneur of the Year® award, Andrew and Chris Brown, co-founders of The Daily Buzz, who took the Small Business Entrepreneur of the Year® award home and Anton Rossouw, founder and owner of Life Path Health, who won the Medium Business Entrepreneur of the Year® award.

The Innovator of the Year® title was awarded to Dr. Conrad Smith and pharmacist, Mariaan du Plessis, founders and owners of Medical Nutritional Institute (Pty) Ltd because of their innovative product range for a South African company, and the fact that they are able to compete internationally among other successful products.

The competition provides prizes worth R 1 340 000, which includes cash prizes to the value of R300 000. Naidoo says that beyond the monetary prizes, the winners’ businesses will also benefit significantly from the competitions various networking opportunities and associated marketing and national media exposure.

An additional award that was handed out this year was the Lifetime Achiever Award which was awarded to Margaret Hirsch, Chief Operations Officer of national appliance store, Hirsch’s. “This award serves as recognition for those entrepreneurs who have continually contributed towards the development and growth of South African entrepreneurship,” says Naidoo.

Xolani Meva, a member of the 2013 Sanlam / Business Partners Entrepreneur of the Year ® judging panel, says that while the quality of entrants improves each year, this year revealed a significant increase in the quality of businesses entering.

“If we were to compile graphs with statistics of the combined revenues, net profits and the number of jobs created by the entrants annually, this year would reflect a spike in the graphs. In spite of the economic climate they have had to trade in over the past couple of years, SMEs are continuing to make a serious contribution to the economy.”

Meva says that it is vital that the country continues to celebrate these individuals. “Being an entrepreneur is no walk in the park, no matter how long someone has been an entrepreneur. These individuals wake up to a different kind of a challenge every day, and with their never-say-die attitude, they soldier on and continue to make their businesses bigger and better, and the spin-offs to the economy are invaluable. We need these individuals to keep going, so we need to continue celebrating their successes with them,” says Meva.

Naidoo says that not only do entrepreneurs generate much wealth, but they also provide a substantial number of jobs for the citizens of South Africa. “Entrepreneurial excellence should be promoted as the norm and not the exception. By promoting and supporting these entrepreneurs as role models we hope it will serve as an inspiration to others to succeed in the world of business,” concludes Naidoo.

Finalists for leading entrepreneurial competition announced

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Quality of 2013 entrants praised by judges

After a gruelling first round of judging the 2013 Sanlam / Business Partners Entrepreneur of the Year® judges have announced that 14 finalists have been chosen to go through to the next round of the competition, with the ultimate winner to be announced in September.

According to Nimo Naidoo, project manager of the 2013 Sanlam / Business Partners Entrepreneur of the Year® competition, the quality of entries received this year significantly impressed the judging panel and have set a precedent in terms of entrepreneurial talent and success in South Africa.

She says that they received a record number of entries from talented South African entrepreneurs this year – an increase of over 100% on the 2012 competition. “The calibre of entrants and quality submission content has improved tremendously in comparison to previous years, which bodes well for South Africa’s entrepreneurial future.

We would like to congratulate and commend all entrants, as these are the individuals addressing the unemployment crisis in South Africa and positively playing a role in the growth of our economy. They have all made a significant contribution towards society and all deserve to be celebrated.

This year entrepreneurs from numerous sectors entered the competition, which included the manufacturing, services, retail and construction industry.

She says that there was a slight increase in the number of entries received from female, as well as black entrepreneurs. They also noted that the entries were very varied in terms of location, and that the entrepreneurs seem to be spread throughout South Africa. It was also encouraging to see entries from under-developed areas as these entrepreneurs are making great strides in creating jobs for the community.

“We were very pleased with the number of entries received from entrepreneurs who make a distinct impact on the economy. The number of jobs created by these individuals, in addition to the businesses’ turnover and tax contributions they make, play an important role in the country.”

Naidoo says that the 14 finalists operate in various sectors, the most prominent being the manufacturing and engineering and services sectors.

“Entries from these industries highlight that businesses within the critical manufacturing sector are thriving. It is encouraging that South African entrepreneurs are not afraid to enter this vital job-creation sector, even in the tough current economic climate.”

Naidoo says that in the tough economic climate it is encouraging to receive such an overwhelming response from thriving entrepreneurs who are creating jobs and contributing towards the economy. “In the sometimes challenging business environment, successful entrepreneurial role models need to be celebrated and recognised, which is what the competition strives to do.”

She says that the 2013 finalists stand the chance to win prizes worth R 1 340 000, which includes cash prizes to the value of R300 000. “Beyond the chance to win prizes, previous entrants and finalists have benefitted from the competition’s various networking opportunities and associated marketing efforts.”

The 2013 Sanlam / Business Partners Entrepreneur of the Year® winners will be announced on 4 September 2013 at the official awards breakfast in Johannesburg. “We are very excited to venture into the final stages of this year’s competition and wish all of the entrants the best of luck,” concludes Naidoo.

2013 Sanlam / Business Partners Entrepreneur of the Year® finalists:

Jonathan David Pepler (Silverline Group), Wendy Kemp (Accountability Group), Tim Matthis (Thirty by Thirty Marketing), Andrew and Chris Brown (The Daily Buzz), Sue Hadcroft (Cubicle Manufacturing Solutions), Anton Rossouw (Life Path Health), Margaret Hirsch (Hirsch’s), Mariaan Du Plessis and Conrad Smith (The Medical Nutritional Institute), Nandha Moodley (Rubber Engineering), Lewis Thomas (Partners Hair Design), Ebrahim Patel (Malcom-Ezindaleni Hydraulics & Engineering (Pty) Ltd), Andre Visser (Fabrinox), Tommy Makhatho (Bibi Cash and Carry), Paul Kent (Sureswipe).

Perception shift needed among SA youth to create next generation of entrepreneurs

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It was recently revealed by a UN agency report that global youth unemployment has risen to near its crisis peak and predicted that it will keep on rising over the next five years. According to Nimo Naidoo of the Sanlam/Business Partners Entrepreneur of the Year® competition, South Africa is in a similar situation and says that the most effective method to counteract this crisis it to create a desirability around entrepreneurship amongst the youth.

Naidoo says that although youth unemployment is a global issue, South Africa’s situation is dire. “According to the recently released Global Entrepreneurship Monitor (GEM) 2012 South Africa report, entrepreneurship does not seem to be a desirable career choice amongst the youth. Approximately 20% of South Africa’s youth population are potential entrepreneurs, and only 15% possess entrepreneurial intensions.”

She says that the rising levels of youth unemployment can be effectively curbed through the promotion of entrepreneurship as a viable career choice for South Africa’s youth. However, it requires a committed change in South Africa’s public perception and culture.

As the youth unemployment rate in South Africa is a very high 48%, Naidoo says that many youth are being driven to entrepreneurship through necessity, which is not necessarily appealing. “Many of today’s youth view informal, survivalist businesses as undesirable, and therefore do not choose to possess entrepreneurial intensions and often find entrepreneurship undesirable.”

She says that by uplifting local entrepreneurial role models, communities will be able build a society that appreciates entrepreneurial activity. “Entrepreneurs which employ a handful of people are effectively assisting to combat the unemployment crisis and should therefore be celebrated.

“A method of instilling a system which celebrates entrepreneurial success could inspire the youth to consider entrepreneurship as a career.”

Naidoo says that according to the GEM report, where perceived opportunities are concerned, South Africa’s rate for perceived opportunities for its youth (39%) is the lowest of the sub-Saharan African countries, as well as substantially below the average of 64%.

She says that the manner in which a country supports and recognises its entrepreneurs determines the culture of entrepreneurship and ultimately moulds the future of the country’s economy. “A positive entrepreneurial culture is not something that can be simply put in place. It begins at the roots of society and needs to be carefully nurtured.

“The level of desirability of entrepreneurship to an individual has an influence on whether or not that person will ultimately pursue an opportunity. Cultural and social norms play significant roles in the lives of individuals and may influence the extent to which an individual perceives entrepreneurship as a desirable option.

According to the Branson Centre of Entrepreneurship’s Young Upstarts 2010 Report, most young people reported not having enough role models to look to or learn from and found it easier to settle for the comfort and predictability of a job, instead of perusing a risky entrepreneurial venture.

Naidoo says that the perception of entrepreneurship amongst the youth in South Africa needs to be raised. “Marketing and strategic platforms, such as entrepreneurial competitions, is a method of doing so, as a great deal of positive exposure is generated around successful entrepreneurs.

“By creating South African entrepreneurial role models out of the Sanlam / Business Partners Entrepreneur of the Year® winners, we are effectively building role models for the youth to imitate,” concludes Naidoo.

Entries drawing to a close for 2013 Entrepreneur of the Year® competition

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With just less than a month until entries close for the 2013 Sanlam / Business Partners Entrepreneur of the Year® competition, South African entrepreneurs are encouraged to enter in order to be recognised and rewarded for the vital role they play within the country’s economy.

Not only will entrepreneurs stand a chance at winning prizes worth a total value of R1 340 000, which includes cash prizes of R300 000, but all finalists and winners are also provided with the opportunity to expand their networks and receive invaluable exposure for their businesses.

Now in its 25th year, the free-to-enter competition is dedicated to celebrating and profiling the success of entrepreneurs from across South Africa and boosting the level of entrepreneurship in South Africa.

Nimo Naidoo, project manager of the Sanlam / Business Partners Entrepreneur of the Year® competition, says that entrepreneurs are faced with various challenges and that the competition aims to assist entrepreneurs overcome these.

“Obtaining a credible reputation amongst various other competitors and securing additional capital to grow a business are often two key challenges that business owners encounter on their entrepreneurial journey.

“In challenging economic conditions, competitions offer an affordable marketing platform, and by utilising these platforms, entrepreneurs can grow their business by increasing both their brand reputation and bottom line.

“As an example, Tabisa Nomnganga of Bravo Promotions, winner of the 2012 Emerging Entrepreneur Award, has accredited the competition for increasing her client base, as well as increasing her bottom line profits by over 40% from the previous financial year.”

Naidoo adds that due to the success and exposure that many of the 2012 winners encountered, they are already exceeding the number of entries received during last year’s campaign, with still a few weeks to go until the closing date. “We have already received entries from exceptional entrepreneurs with very promising businesses and look forward to responses from the remainder of the local entrepreneurial community.”

The competition is open to entrepreneurs from all industries and for businesses of any sizes. Categories for the competition include: Emerging Entrepreneur, Small Business Entrepreneur, Medium Business Entrepreneur, Innovator of the Year, Job Creator of the Year and overall Entrepreneur of the Year 2013.

Why EOY is valuable to the entrepreneurial community

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2013 competition entrant, Richard Qonto, shares some information with us about his business and discusses why he decided to enter the competition this year.

Briefly describe your business and the industry you operate in?

Pendairies (Pty) Ltd is an authorised Parmalat distributor based in the Western Cape. My key business functions comprise of marketing and selling Parmalat products to retail outlets and wholesalers.

Where did the business concept originate from and when did you start your business?

After participating in the sales industry for 10 years, I noticed that although Parmalat dominated the dairy market nationally, the company had a weak position within the Western Cape. As a result of this I established Pendairies (Pty) Ltd in 2007 and became an authorised distributor for Parmalat within the region.

Have you always aspired to start your own business?

Yes, while I was an employee I always had a desire for something more. Being an entrepreneur generates a great sense of fulfillment within my life.

Briefly describe some of the challenges that you have experienced as an entrepreneur?

Access to finance is always a challenge to small businesses due to insubstantial collateral. This makes competing with experienced stable businesses with sound financial backing a tedious task.

Being able to apply for access tenders and supply big organisations requires entrepreneurs to have access to resources and adequate experience, which many don’t possess. These factors obviously negatively affect the development of your business.

What advice would you give to aspiring entrepreneurs?

Being your own boss comes with a lot of sacrifice, commitment and discipline. If you stay focused and set out clear business goals, the sky is the limit.

Where do you see your business in the next five years?

My vision is to own a farm and become a producer. I intend on developing my own brand instead of promoting other companies’ brands. This will result in me ultimately being a job creator in South Africa and actively contributing towards our country’s economy.

What does a day-in-the-life of Richard Qonto consist of?

My day consists of looking for greener pastures and opportunities in the business community. I spend a lot of time clearly defining my goals and targets, and set strategies to achieve them in the best way we can.

Why did you decide to enter the Sanlam / Business Partners Entrepreneur of the Year® competition?

I believe that this is a great platform for me to interact and network with other small business owners, as I believe that the community should share information and learn from each other. Together, SMEs and entrepreneurs can identify market opportunities that they originally may not have been aware of.

Why would you recommend that fellow entrepreneurs get involved with initiatives such as Sanlam / Business Partners Entrepreneur of the Year®?

Entrepreneurs should enter to learn about new developments in the industry and how best to stay ahead of their competition. Exposure to new trends in the market and the growth of entrepreneurship will only strengthen your business.

Environment needed that is conducive to SME growth

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Small and medium enterprises (SMEs) are widely considered a major contributor towards the South African economy and one of the biggest contributors to job creation, yet despite this, the SME community continue to face various challenges that limit their growth.

According to Lionel Billings, head for national consulting services at Business Partners Limited, government needs to create an environment that is conducive to SME growth so that businesses can flourish and contribute towards employment. “Small and medium businesses are the bedrock of every economy and society, and government and large businesses need to align their goals to incorporate SMEs.”

Billings, who was speaking at a Sanlam / Business Partners Entrepreneur of the Year® (EOY) workshop, a competition aimed at uplifting South African entrepreneurs, said it is estimated that there are 1.5 million SMEs in South Africa, of which, one million formal micro-businesses are employing five or less people.

The Business Partners Limited SME Index, which measures attitudes and confidence levels amongst the Small and Medium Enterprises (SME) industry in South Africa, recorded confidence levels of only 33% that labour laws are conducive towards the growth of businesses. It was reported that the effort and cost to comply with the very modern labour legislation is often out of reach for most SMEs and inhibits them from employing more people.

Billings added that business and government needed to instil a sense of entrepreneurship in the country’s youth. “Government needs to cultivate and grow the correct type of culture in order to stimulate business growth within the SME sector.”

Guest speaker at the event, Mzukisi Stephen Dondolo, entrepreneur and chief executive officer of investment firm African Pioneer Ltd, addressed the need for entrepreneurs to group together and to lobby Government to improve the environment for SMES and to address the high level of unemployment.

“Government has created a platform that allows for black businessmen to enter the economy. On the one hand that has created ‘tenderpreneurs’, but on the other hand there are those hardworking entrepreneurs who take their hard earned money and reinvest it in the community.”

He adds that widespread corruption and ‘tenderpreneurs’ do not enable the economy to grow. “Corruption creates an environment where someone will have to increase the price of a service to pay for corrupt tenders. It only benefits ‘tenderpreneurs’, who do not invest back in the economy.

“Corruption has also led to the cost of doing business increasing, which prohibits entrepreneurs from entering the market, and results in the pool of taxpayers remaining small, or even shrinking further, while government expenditure continues to grow, leading to taxpayers being squeezed even more. It becomes a vicious circle that has a very negative effect on the economy and benefits only a select few.”

He says that to counter corruption and to bolster the working environment for SMEs, Government needs to pay more attention to the SME’s needs.

“Entrepreneurs must think positively and look for business opportunities as together, we, entrepreneurs, can conquer unemployment. If we can arrest unemployment and instead change it into employment opportunities, that money will circulate and create wealth in the community. Together we can lobby all the spheres of government to improve their service delivery,” concludes Dondolo.

Top tips for marketing your business in 2013

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During an economic recession small and medium enterprises (SMEs) often adopt a survivalist mentality by focussing on cost cutting strategies that ensure short-term success but, ignore long-term prosperity. According to Gugu Mjadu, Executive Manager of Business Partners Limited, marketing tends to be one of the first spending areas to be cut when times are tough. “Marketing is not only one of the most vital functions of a business, but, counter-intuitively, the slower the economy, the more your investment in your marketing efforts needs to be.”

Mjadu however indicates that such an investment does not have to be in cash. “SME owners can cut their marketing budget provided they increase their marketing effort in other ways, such as increasing their team’s focus on marketing, or spending more time on it themselves.”

She offers the following insightful marketing tips to SME owners looking to succeed in 2013:

  • Cut the waste, but be careful not to over-prune: This principle undoubtedly applies to marketing efforts, in which 80% of a business’s success can be derived from 20% of its marketing efforts. There is therefore plenty of opportunity to cut activities that yield poor results. SME owners should subject marketing efforts to the same rigid cost-cutting and efficiency that every part of the business has to undergo in these tough times, but when doing so, they need to remember that the results of marketing efforts are often pending. It can take years of constant attention and experimentation before a business owner can be sure which marketing plans actually work.
  • Mine your existing customers:It is a well-established fact that winning over a new client generally costs six or seven times more than winning repeat business from an existing customer. Although some components of a marketing plan should always be aimed at gaining new customers, a strategy to sell more to existing customers will almost always yield more results.Simple systems such as sending a note to a customer thanking him or her for a purchase, together with a special offer for an additional buy (plus a deadline to create a sense of urgency) can work wonders. Incentives could also be created for existing customers to send business in your way. Offering them a discount or a bonus for every new client they introduce is only one way of doing it. Some businesses take a much more subtle, indirect approach – they make the customer experience so amazing that they will tell their friends and family about it.
  • Don’t compete on price: Most owner-managed businesses are too small to compete based on offering the lowest price. That is the preserve of multi-national corporations that can leverage economies of scale to produce products at a price lower than SMEs and are able to source the raw materials. Rather concentrate on quality, the warmth of personal service and flexibility to meet individual clients’ specific needs than on low price.
  • Repeat your message: It is very difficult to measure, but some studies show that it takes about seven contacts to convince a customer to buy. This obviously differs from industry to industry, but whatever the average, the principle is that it will nearly always take more than one pitch to convince customers, often via multiple communication channels or ‘touch-points”. For example, don’t do one pamphlet drop, and then drop the idea because the results were poor. Rather plan a series of them and evaluate it after the entire campaign. The same applies to any other marketing efforts. Remember however that there is a fine line between reminding a potential customer often enough that you are there, and making a nuisance of yourself.
  • Get a web presence: If you are not online yet, you are making a huge mistake. Even if you are happy with your customer numbers at present, sooner or later your lack of internet presence will catch up with you as the world becomes increasingly wired.

Sanlam and Business Partners launch the anticipated Entrepreneur of the Year® competition in the Nelson Mandela Bay

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Budding entrepreneurs from around the Nelson Mandela Bay last week packed into the plush Radisson Blu hotel along the Port Elizabeth beachfront for the launch of the anticipated Sanlam / Business Partners Entrepreneur of the Year® (EOY) competition.

Announcing the call for entries for 2013 – the closing date is June 16 – head of national consulting services at Business Partners Limited, Lionel Billings said entrepreneurs needed to be optimistic about the future of the country.

“Small and medium businesses are the bedrock of every economy and every society,” said Billings.

Reiterating the importance of small and medium enterprises (SMEs) in the country, Billings said business and government needed to instil a sense of entrepreneurship in the country’s youth.

It is estimated that there are 1.5 million SMEs in South Africa, of which 1 million are formal micro-businesses employing 5 or less people, he said.

“Government and large businesses need to align their goals to incorporate SMEs,” he said.

The guest speaker was former EOY winner and emerging Eastern Cape powerhouse in business, Mzukisi Stephen Dondolo, chief executive officer of investment firm African Pioneer Ltd. The firm has shareholdng in Coca Cola Fortune, Cerebos and The Boardwalk Casino and Entertainment Complex in Port Elizabeth.

Speaking about the need for entrepreneurs to band together and to lobby the government to better enable the environment for SMEs, Dondolo said: “It is an honour to come and talk at this function, because both Business Partners and Sanlam have contributed to growing small businesses in the country.

“We were once a recipient of this competition and it brings along a lot of recognition and a lot of joy. It was wonderful recognition to have.

“When I started out in the 1980s, I was the first black person in Uitenhage township to receive funding from Business Partners towards growing my business.”

Dondolo said he used his start-up funding to grow a bottle store franchise and then in the 1990s, tired of retail, he decided to enter the unchartered waters of the fishing industry.

“As a black man I had no idea about the fishing industry or how fish ended up on my table,” he joked. Yet Sanlam saw his business potential and invested in his company, he added.

“Sanlam took shares in my business and invested in me. If it wasn’t for that, I wouldn’t have been able to start up that business,” he said.

“Building a business starts with entrepreneurs. The government has created a platform for black businessmen to be able to enter the economy.

“Although on the one hand that has created ‘tenderpreneurs’, on the other hand there are hardworking entrepreneurs who take their hard earned money and reinvest it in the community.”

Dondolo said entrepreneurs were “engines of wealth creation and a creator of sustainable jobs”.He also spoke out against widespread corruption.

“The corruption creates an environment where someone will have to increase the price of a service to pay for corrupt tenders. It benefits ‘tenderpreneurs’ who will not invest back in the economy and allow the economy to grow.

“Corruption has also increased the cost of doing business, which prohibits entrepreneurs entering the market, and in the end the pool oftaxpayers remains smaller or even shrinks further while government expenditure continues to grow, leading to taxpayers being squeezed even more. It becomes a vicious circle which has a very negative effect on the economy and benefits only a very few.”

To counter corruption and to bolster the working environment for SMEs, Dondolo said entrepreneurs needed to band together and lobby the government to pay more attention to the need for SMEs in South Africa, to address the high level of unemployment.

“Entrepreneurs must think positively. Let’s look at our province and look for business opportunities. Together we can conquer unemployment. If we can arrest unemployment and change that into employment opportunities, that money will circulate and create wealth in the community,” he said.

“Together we can lobby all the spheres of government to improve their service delivery.”

Entrepreneurs: the unsung heroes of the business world

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Government has not yet been able to help solve the unemployment crisis in South Africa, which leaves the responsibility with the business and private sector to do the job. This was the message delivered at the recent Sanlam / Business Partners Entrepreneur of the Year® workshop by Dennis Collins, a South African entrepreneur and business man.

According to Collins, the private sector of South Africa has been laden with responsibility to help solve the unemployment crisis in the country.

“We entrepreneurs are the unsung heroes of the business world. Entrepreneurs are the individuals who, starting with ideas, create employment, earn money, pay taxes, and up skill staff who earn salaries and pay their own taxes. We are the individuals who grow the economy.

“I remind you that never before in the history of this wonderful country has there been a greater need for the emergence of such people. I therefore applaud entrepreneurs because they will make the difference.”

He says that there are certain principles that entrepreneurs should follow to assist them in their quest for success:

Drive and ambition:

Hard work is key to success – you don’t just arrive! Your ship won’t come in if you have never sent one out. Entrepreneurs are in charge of their own destiny

Conviction:

Entrepreneurs need conviction that what they are doing will work, and be prepared for the “downs” because they do come.

Strong will to win:

Never give up – stay focused – don’t be diverted from your dream.

Respond to failure with attitude with optimism:

Attitude is very important for entrepreneurs as they have to be able to respond to failure with optimism. Failure is no less than lessons learned because the man who never made a mistake, never made anything.

Be confident in your own ability:

Always be confident in your own ability. In order to be confident one needs to be an expert in the industry that you operate in – never be scared to study and learn more about your area of expertise.

Set measurable goals:

Success is the result of setting goals in every area of life. An entrepreneur’s desperation quotient will determine how far you go when the going gets tough. Your final destination must be clear, measurable and specific in time, quality and values.

Advisors and friends:

Entrepreneurs need to select good friends and business networks to assist them with the strengths that they may not have.

Collins says that entrepreneurs need to dream, live, eat, talk and consume that which is within them. They then need to break out of the dream cocoon and spring into action. “Never be afraid to make decisions. As long as you are right 51% of the time, you will be on the winning side, and the sheer momentum of that will pull you through.”