Article written by Catherine Wijnberg (Founder of Fetola)

Every August I am asked to reflect on the special journey of women in business, and every year I struggle to give the answer that people expect from me, which is to agree somehow when it comes to business, that women are not the same as men.

The truth of the matter is that personally, I have always approached my role as a business leader with the attitude that there are no special rules for female founders – you are either good, in which case you succeed, or you are not, in which case you fail.

The entrepreneurship sector is frequently highlighted as a significant driver of employment and economic expansion in South Africa.

However, small businesses face dauntingly high rates of failure. Despite contributing 39% to South Africa’s GDP, the SME sector grapples with failure rates ranging from 50% to 95%, varying by industry.

On average, SMEs experience a substantial 75% failure rate, as noted by Vuyelwa Nyakaza, managing director of Sukume Consulting, which specialises in SME development across South Africa and the continent.

The conversations around entrepreneurship are often focused on external factors impacting small businesses such as the country’s sluggish economy or infrastructure challenges.

However, how entrepreneurs conduct their business is one of the key determinants of success or failure.

Article written by Harry Welby-Cooke (Actioncoach)

The State of the Nation (Sona) address by President Cyril Ramaphosa, was devoid of the usual interruptions and chaos engineered by the comrades in red, I almost felt cheated instead of relieved.

At least the antics of the comrades in red, whilst extremely frustrating and high blood pressure-inducing, created an interesting diversion to the boring and ridiculousness we’ve come to expect from Sona.

The longer-than-usual Sona had the usual waxing lyrical about the successes of the past, accentuated by the need to look back on the full 30 years since the dawn of our new democracy.

To illustrate the benefits for society, we were introduced to ‘Tintswalo’. Our dear President attempted to console us with the imaginative character’s perfect ‘new’ world brought about by the amazing achievements of our government.

Article written by Allon Raiz (CEO of Raizcorp)

As someone who is a strong proponent and campaigner for entrepreneurship, writing an article entitled “Why glamourising entrepreneurship is a problem” may, on the face of it, seem a little hypocritical. Why would I write such a piece when I am so pro-entrepreneurship as an economic development tool?

It’s simple. I believe that South Africa has developed a culture of glamourising entrepreneurship that is, in a sense, “false advertising”. The warning label is missing. It is widely accepted that around 96% of new businesses fail within a ten-year period the world over. That is a staggering statistic and not one that can be easily glossed over. If I may draw a comparison, how many kids would enlist in the army – despite those grand notions of honour and patriotism – if you told them that only four out of 100 would come back alive?

Article written by Alan Shannon (Nedbank Executive of Small Business Services and Private Clients)

Small- and medium-sized enterprises (SMEs) are under immense pressure in a tough economic landscape. Considering their substantial role in driving economic growth and job creation, there is now a heightened focus on their survival and growth. According to the International Council for Small Business (ICSB), SMEs account for 90% of all businesses worldwide, and 50% of employment. In South Africa SMEs employ more than 60% of the workforce, but their growth has been hampered by all-too-frequent power cuts and the devastating economic impact of load-shedding. Beyond traditional funding, SMEs now need 'greener' funding models as a matter of urgency. Therefore, South Africa’s banking sector must rise to the challenge of enabling SMEs who are struggling to continue their operations and keep the lights on.