Article by Werner van Rooyen (TradeWorld Leads and Tenders and How2Tender.com) Many people dream of starting their own businesses. There are many people who actually go out and start their own businesses and then fail dismally. There are horrific statistics of how many start-up businesses fail within the first two years. Some say as many as 80% of all start-ups fail within the first two years, and of the remaining 20%, another 80% fail in the following three years. The four businesses that survive the first five years will most probably be successful and exist for some time. The question is, why do so many businesses fail? There is no straightforward answer. What we need to focus on, is what to do to make your business sustainable. You want to ensure your business survives the first two years in order for you to build up a reputation as reliable and sustainable, enabling you to respond to that large tender that will provide you with financial independence. There are many factors that one needs to consider when starting your own business and here are five rules that you need to adhere to when doing so:
Article by Werner van Rooyen (TradeWorld Leads and Tenders and How2Tender.com) Listed below are eight rules for submitting your tender response. Ensure that you follow these rules when you submit your tender response. All tender invitations have their own submission instructions. It is of the utmost importance that you familiarize yourself with these conditions. These instructions can usually be found at the beginning of the tender invitation document and include instructions such as:
Article provided by TradeWorld Business and HowToTender.com If you have ever responded to a request for quotation or a competitive bid, you will have encountered a Briefing Session, Site Meeting or Information Session. These are meetings held before the quotation or competitive bid (tender) is due. Most of the time these sessions are compulsory and not attending these, will probably lead to your tender response being disqualified. Here are a number of things that you must remember or do when you attend one of these sessions:
Article provided by TradeWorld Business and HowToTender.com Tenders and subcontracting go hand in hand. In fact, subcontracting part of a tender is so commonly placed that in South Africa there are specific rules regulating subcontracting in executing tenders. This is especially true for South African government tenders. According to Investopedia, subcontracting is the practice of assigning part of the obligations and tasks under a contract to another party known as a subcontractor. Subcontracting is especially prevalent in areas where complex projects are the norm, such as construction and information technology. Subcontractors are hired by the project's general contractor, who continues to have overall responsibility for project completion and execution within its stipulated parameters and deadlines.
Article provided by TradeWorld Business and HowToTender.com It is imperative for all potential bidders that they familiarize themselves with the tender process in South Africa. There are procedures that need to be followed by the organs of state when they issue a tender. These procedures are governed by different Acts such as the Preferential Procurement Policy Framework Act (Act no 5 of 2000) and the Public Finance Management Act (Act 1 of 1999 as amended by Act 296 of 1999) to name but two.