Article written by Mike Anderson NSBC Founder & CEO

Imagine putting everything you have - your hopes, dreams and finances into starting your own business, only to watch it crash and burn. The fear of failure is at the very top - above anything else.

On the upside, starting out and succeeding as an entrepreneur has to be one of the greatest rewards in life. So get to know why startups fail and what is needed to avoid failing. Then start your journey to achieve your dreams.

Article provided by Business Partners

South Africa has been established as one of the continent’s “big four” startup ecosystems, alongside Egypt, Kenya and Nigeria, according to the 2022 South African Startup Ecosystem Report. Yet, as the most recent Global Entrepreneurship Monitor revealed, education and training are amidst the most pressing challenges for aspiring local entrepreneurs. An investment into skills development and knowledge sharing is therefore key to stimulating growth within the SME sector.

Article written by Mongezi Lupindo (Content Manager - Sage Africa & Middle East)

Whether you’re starting or expanding a company, having a business plan can get you on track and get some detail behind your ideas.

However, research from Barclays shows that one in four businesses don’t have a business plan.

If you want your business to succeed, there are various tools you’ll need to have at your disposal. One of those is accounting software, which will help you keep track of your business admin (forecast your cash flow, manage your invoices, and more). Another is a business plan.

Download your free business plan template

Article provided by Startwise

Here are the statistics in South Africa for the success rate of startups, as far as research has shown me. An article on News24.com reported, “More than 90% of all new companies do not survive the first five years.” And a more recent study indicates, the failure rate of startups is around 50% in South Africa within 24 months due to the inability and inexperience of their owners.”

The good news is that you can improve your chances of success by educating yourself and learning from others’ experience. I believe it’s the amount of determination, empowerment, and knowledge that one has, that can make your startup a success.

Article provided by SME South Africa

There are many factors to consider before starting your business such as what product or service to launch and whether there is a market for it. You will also have to decide how you will fund your new venture and what the legal requirements you will need to comply with.

Starting a new business can be an exciting, but overwhelming time. To up your chances of success, think about these important factors.

Article by The Tax Shop Accountants

Many startups have questions about how to run a business. Let’s look at six common frequently asked questions about startups when they consider shares and taxes.

The Startup Genome’s Global Startup Ecosystem Report for 2021 was released recently and this is what it had to say about Africa as a region and some of the most prosperous ecosystems in Africa. In the report, it was noted that start-ups are a rapid and resilient job growth engine and there is a 10% growth year on year worldwide for start-up jobs. One way tech ecosystems are measured is by the number of unicorns (start-ups that have reached a billion-dollar valuation) they produce. Though this may hint at the rarity of such businesses, they are becoming more common. With the increasing international investing strategies, more and more businesses can be founded, funded and scaled worldwide which makes it crucial for locals to support their individual start-up ecosystems. Your business could be the next unicorn.