BIZculture business categories that highlight key economic sectors in South Africa include the automotive industry (accounts for almost 12 percent of the country’s manufacturing exports), tourism industry (delivering value for money as one of the world’s fastest growing business and leisure travel destinations), mining and minerals (the country is famous for its abundant mineral resources), and ICT and electronics (leader in information and communication technology development, and 20th largest consumer of IT products and services in the world).
More than two million emerging businesses in South Africa are expected to benefit from a recently launched initiative by the Department of Trade and Industry (DTI), aimed at increasing access to support and training. Women, youth and people with disabilities who start-up businesses in townships, rural areas and the inner city are eligible for support by way of skills development, allocation of promotional material, and product improvement. However, many people who are unable to find gainful employment dismiss the alternative of starting a potentially successful business venture. While they may be well-regarded as enterprising individuals, it is quite common to prefer seeking employment, or further study, as a stepping stone to later independence; their initial hesitation may also be about financial factors or a lack of self-confidence to pursue a career as a business owner. Yet those that are willing to take a risk to embark on setting up a new venture will immediately face some of the many dilemmas that will arise during their future entrepreneurial lives.
- How do I manage the demands of creating a new venture?
- How do I deal with the responsibilities of being an owner and a manager?
- How do I create a balance between work and family commitments?
- How do I secure support for the business?
- How do I manage the various sections of the business?
- How do I cope with set-backs?
- How do I deal with regulatory bodies?
- How do I manage cash flow?
- How do I build credibility with the bank and with suppliers?
- How do I raise finance to cover high up front costs?
- How do I sell the product?
The following BIZculture business categories are intended to help entrepreneurs “discover” new ventures.
Media & Marketing
Transport & Logistics
Marketing tips and techniques
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