The contemporary business environment in South Africa is characterised by many new enterprises. Deciding which idea to take up and launch as a business is easy, if one is to simply copy others. But the burning question then remains, ‘Will the business succeed?’ This is pivotal, as when it comes to business passion and raw determination are unfortunately not enough. Thus, your skills, strategy and learning must still all be geared towards a viable concept in an industry that maximises the chances of you succeeding in your market.
Here are a few industries and sectors that are worth considering if you are deciding to embark on business in SA:
1. Information technology
Information technology has proven to be a boon for South African youth. It is an industry where work seems to always be available, both for employee and employer. This is because many related roles and responsibilities can be handled comfortably online. For instance, clients can be sourced online and feedback likewise provided via the same channel. Therefore, a person can work literally from anywhere there is an internet connection. Also, clients aren’t restricted to service providers in the local community, but nowadays can request services from any business across the globe – thereby broadening the target markets of businesses quite substantially beyond previous geographic limitations. Silicon Valley might be the home of IT, but it is not the only place IT thrives.
2. PR, advertising and marketing consulting
Public relations, advertising and marketing consultancy businesses seem to be a big thing in South Africa. They are also good businesses to start up because they do not need as much input capital to get off the ground. These are businesses that people can easily start at home and grow. However, it should be noted that consulting businesses essentially require good connections or networking to truly succeed. The website, www.entrepreneurmag.co.za even suggests starting these types of businesses on a part-time basis, until a solid foundation is established.
3. Clothing retail
Retail in South Africa has been the go-to business for many young people. It offers an opportunity to grow that few other industries do. This is because it is another business type that one could conveniently start from home. And with the advent of online selling or e-stores such as Shopify, it has become even easier to start one’s own business. In fact, renowned and vast websites, including the likes of Facebook, also offer amenities that assist businesses to trade via their pages. Many other social networking websites have also jumped onto this bandwagon including Twitter, Instagram and Tumblr. Furthermore, the creation of institutes such as the South African Fashion Council is bolstering the retail and fashion sectors.
Manufacturing has always been a stalwart avenue for businesses. This is because as a manufacturer you make what people need, or respond accordingly to specific and inherent demands in the marketplace. One useful web resource is Trimo that points to a number of manufacturing businesses that one might look into starting. These are small manufacturing businesses, but with perseverance and strategy they have the potential to significantly grow in various ways. Some training will be necessary to enter the manufacturing sector, but a number of manufacturing concerns do not require intensive or extensive training.
If your business concept hasn’t quite worked out as anticipated, or if you are looking to venture into business as an aspiration and are short of ideas, then you can look into the above industries to explore possibilities with vast potential.
Proudly brought to you by the National Small Business Chamber (NSBC).