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Women entrepreneurs in South Africa: growth, funding, challenges and solutions

South Africa has emerged a clear leader on the continent, as an enabler of women’s entrepreneurship. However, as President Ramaphosa pointed out last year, despite efforts from multiple segments of society, only 41% of South African women aged between 15 and 60 years are regarded as being economically active. While we should celebrate the significant strides being made towards tackling gender disparities in entrepreneurship, we should strive as a collective to address major challenges that prevent progress such as access to funding.

Business ethics for a better business

Business ethics are the moral principles you adopt in how you do business. Though many unscrupulous businesses have earned big bucks in a short time, in the long run, they have suffered from the bad reputation their unscrupulous behaviour has caused. So, how can business ethics create a better business? Before we dive into this question let’s define business ethics.

Fabrica Coffee Company – building up the community

Meet the Absa Small Business Friday featured Small Business of the week – Fabrica Coffee Company.

With a background in owning franchises, Tome De Jesus De Carvalho decided to purchase two Fego franchises and 2 Netcafe stores in 2011. He wanted to try his hand at more refined dining options as his previous endeavours had been in the takeaway business.

In 2017, Tome wanted these stores to be independent and rebranded the Fego stores to Fabrica. This was his own brand. The main store is in Sunningdale, and there are two other stores in Glenore and Salt Rock. The Netcafe stores are at Umhlanga Hospital and St Augustine’s.

In this line of business, he enjoys the daily interactions with a wide variety of patrons, and delivering superb service and good food.

Customer service hacks for small businesses

Customers usually stick with businesses that value them and treat them well. According to a global PwC survey , almost 60% of customers would discontinue using a brand if they had bad experiences. So, it’s not surprising that commercial actions are motivated by a fundamental desire for respect.

Even if you cannot offer a quick fix, you can address customer queries and promptly return phone calls and email messages.  That is a positive client experience and the foundation of any successful business. So regardless of your business size, investing in customer experience is essential and here’s how you can do it.

Digitization for SMEs

SMEs (small- to medium-sized businesses) are the foundation of the world economy. According to Forbes Business Council, SMEs in emerging economies produce seven out of ten jobs, contributing more than 30% of the GDP.

While the pandemic has accelerated e-commerce growth and digitization, it has sparked a new wave of emerging technology adoption. It presents SMEs with a previously unheard-of opportunity to benefit from digitization on the path to success.

Mastercard and SCTIE partner to boost local tourism and investment in South Africa

Under the MoU, the South Coast Tourism and Investment Enterprise (SCTIE) and Mastercard will provide short-and long-term digital solutions for Small and Medium Enterprises (SMEs) in the tourism sector.

In an innovative collaboration for the KwaZulu-Natal South Coast, Mastercard and South Coast Tourism and Investment Enterprise (SCTIE) signed a Memorandum of Understanding (MOU), a partnership that will offer significant business-related benefits to informal traders and Small Medium Enterprises (SMEs) within the KZN South Coast. The partnership was solidified by an SME engagement with the local business community, which was held at Margate Hotel.  

Job Crystal – getting future generations out of poverty

Meet the Absa Small Business Friday featured Small Business of the week – Job Crystal.

Job crystal is working towards making a dent in unemployment in South Africa. They aim to help SMEs hire better, faster, and cheaper so they can grow. This proudly South African business is also making waves worldwide as well as they have developed and offer recruitment technology that is revolutionary in finding talent faster than you can read this line.

Sasha Knott’s journey to entrepreneurship has been an interesting and challenging one. She started as a cashier, then worked her way up to waitress, and then became a programmer but decided she preferred people over computers and stepped into a leadership role. She continued to climb the corporate ladder and learnt a great deal from working with start-ups. This knowledge proved highly beneficial when she started Job Crystal.

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