The empowerment of entrepreneurs has always been a core objective for us at SAB. The creation of SAB KickStart, SAB Foundation, SAB Accelerator and SAB Thrive, shows our commitment to providing a tangible and sustainable future for South Africans by providing invaluable guidance and support to the businesses we partner with.
We believe in our entrepreneurs, in their dreams, in their drive to succeed and in the difference they make in our communities. That’s why we want to back them and their ideas 100%, and aim to create 10 000 sustainable jobs by 2022 through our entrepreneurship programmes.
Each of these programmes were created to aid entrepreneurs across various stages of business development and help people and communities that require business and management support. We have divided our resources into these segmented entrepreneurship programmes, in the hopes of inspiring and uplifting the communities in which they are situated.
We believe that the youth are capable of being powerful key drivers in our country’s economy. However, we are aware that on average, 70% of small businesses fail in the first 1-3 years of operation.
This is where we come in. Our aim is to help ensure that the businesses that operate in key high potential industries, and are led by young, ambitious and driven owners, are fully supported in their entrepreneurial journey through fit-for-purpose knowledge, tools and processes that will assist them to succeed long-term.
Introducing SAB KickStart, a youth entrepreneurial programme. Its main focus is to assist small business owners, between the ages of 18 and 35, so that they can play an active role in the economy by running successful and sustainable, youth-led businesses.
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There are two parts to the programme – SAB KickStart Ignite and SAB KickStart Boost.
Ignite is a programme that supports disruptive, youth-led innovators that have businesses or products and services, with the potential to grow into viable businesses.
Eligible entrepreneurs receive technical product and business development support, which includes one on one mentoring, prototyping, commercialisation, and financial support, where required.
SAB KickStart Ignite is a 6-month programme which acts as a pipeline of entrepreneurs for more advanced programmes such as SAB KickStart Boost.
The Boost programme backs entrepreneurs with existing and emerging businesses in key industries. As a result, these businesses are encouraged to grow into sustainable businesses that create jobs in their surrounding communities.
The entrepreneurship programme consists of a 12-month course that includes assistance from operational processes and tools to business skills support and more. Capitalising on these skills will help take businesses to the next level.
For more information about SAB KickStart and its entry requirements, visit: https://www.sabentrepreneurship.co.za/kickstart
The SAB Foundation invests in entrepreneurs and social innovators – with an emphasis on services and products that benefit women, youth, people living in rural areas and persons living with disabilities – who show the potential and commitment to grow their businesses and create jobs.
SAB Foundation is an independent trust that was created in 2010. The foundation annually invests millions of rands towards developing entrepreneurship in South Africa and ensuring that low-income communities are uplifted.
SAB Foundation has two major focus areas, one being entrepreneurship and the other is social innovation.
“If you take a bucket that has holes, you can put water in that bucket, the bucket will never fill up with water. Through the SAB programme one was actually brought to understand that you need to start by plugging in the holes first for the business to grow.” – William Dhlongolo
Applications open once a year to recruit around 877 businesses.
Within the SAB Foundation, the Social Innovation Awards are held. These recognise the work of entrepreneurs who find innovative solutions to challenges facing some of South Africa’s most vulnerable people.
The work could include a product or a process that proves to be original and innovative within the category. You will also be required to prove that you have spent time and/or money developing your piece of work.
We define social innovation as innovation that demonstrates a sustainable business model while solving a social problem, with emphasis on innovation that benefits women, youth, people living in rural areas and people living with disabilities.
Applications for 2017 are currently closed and will re-open in 2018. They are open to all South African citizens of 18 years or older.
For more entry requirement information about the SAB Foundation Fund, visit: https://www.sabentrepreneurship.co.za/foundation
SAB Accelerator is focused on supporting black-owned suppliers in need of business development and technical support to grow further into the SAB supply chain.
The SAB Accelerator programme has 3 sub-programmes namely, Start-up, Catalyst and Amplify.
The Start-up and Catalyst programmes screen all potential suppliers to identify business gaps and provide the required support to enhance businesses. The suppliers are then taken through a 2-5-month programme, involving a variety of mentoring, training, and project management. Once this is complete they either graduate into the Amplify programme or graduate from the programme entirely depending on how they performed.
The Amplify programme provides additional business development support to the graduates of the Start-up and Catalyst programmes and takes place over a period of 3 months. Upon completion of the programme, applicants exit and are monitored on a bi-annual basis, for a period of 5 years to analyse their progress.
To find out more about the entry requirements for SAB Accelerator, visit: https://www.sabentrepreneurship.co.za/suppliers
The SAB Thrive Fund, is a fund focused on supporting existing black-owned suppliers in need of capital to grow and the need for improvements on their black ownership credentials by providing them with access to 100% black-owned capital.
The SAB Thrive Fund is an Enterprise & Supplier Development (E&SD) Fund powered by the Awethu Project, which is the Black Private Equity Fund Manager that owns a majority of the Fund (51%) – enabling this intervention to speak to both the spirit and the letter of the B-BBEE codes by creating shared value for both SAB and black-owned businesses.
The SAB Thrive Fund has been divided into two main parts:
The existing black-owned suppliers – which The SAB Thrive Fund can invest growth equity capital into in order to further their profitable expansion into the SAB supply chain, without diluting the black-ownership of these businesses.
The existing white-owned suppliers – which the fund also provides equity capital to, in order to support the enhancement of their black-ownership, while facilitating the introduction of a black entrepreneurs to gain an ownership stake in their business.
To find out more about the requirements for the SAB Thrive Fund visit: https://www.sabentrepreneurship.co.za/suppliers
4 Ways to Stop Worrying in 2019
If you’re a bit of a worry-wart, you have to acknowledge this and get proactive about managing your stress, anxiety and worrying levels. Here’s how.
What if I can’t complete that piece of work in time? What if my home gets burgled while I’m on holiday? We all worry – some people more than others. A few of these worries are genuine concerns, but most are completely out of our control and are most likely never to materialise.
But still, they occupy our minds. And with the digital world now occupying even more of our time, we’ve been given even more material to worry about. Famines in far-away countries, children orphaned by a flood, if we simply turn on our TVs or look to social media, we can become completely overwhelmed by what we see. And it’s making us all desperately unhappy.
So, what do we do? If you’re a bit of a worry-wart, you have to acknowledge this and get proactive about managing your stress, anxiety and worrying levels. Here’s how:
Monitor and limit social media
We all know our phones are an addiction. And scrolling through Twitter or Instagram, you can compare your life to everyone else’s and add another huge worry to your ever-growing list: I’m not good enough/my life sucks. Which is why there’s a growing trend among Generation X-ers (and even some Millennials), to quit social media altogether.
“It was like breaking an addiction for the first few days, where I felt I was missing out, but after a few weeks I realised that the world carries on, and I was still in touch with those people I actually wanted to connect with. I felt lighter and happier,” says Caryn White*, a mother-of-two and small business owner. If you can’t quit social media for work reasons, then take it off your phone, and only access it on your desktop at specific times of the day.
We’re not advocating sticking your head in the sand: just limit which channels you absorb news from, and how often you do it. The last thing you need is to open up your phone on waking up and read about the latest catastrophe, which you are powerless to do anything about.
Pick a few trusted news sources and check them at specific times. Avoid the news on the radio in your car; rather listen to fascinating audio books or podcasts that lift your mood instead of making you worry.
Assumption or fact?
This simple concept is incredibly helpful when faced with a worrying situation. Your child has a strange rash, you’ve Googled it and you’re pretty sure it’s chickenpox. Now the whole family is going to get it, you’ll miss work, your boss will be angry, and you may lose your job. Is the fact that your child has chicken pox an assumption or a fact?
Is losing your job a fact or an assumption? They’re both assumptions. So, take your child to the doctor, get a proper diagnosis and then take the next steps from there (a good medical aid can also help ease the stress of the financial cost of doctors’ visits). This approach is a simple way to deal with worries that start to spiral out of control in your mind.
Write them down
Worrying can seem insurmountable if it’s all in your head. Instead, try this strategy from Qualified FAMSA Counsellor Lynette Blomfield:
- Take a few deep breaths with your eyes closed, until you calm down.
- Once you’re calm, write down the five most stressful things on your list. It could be increasing expenses, like a huge jump in medical aid costs per month.
- Brainstorm what you could do to change or eliminate the worry/problem (maybe you can move to a medical aid company that charges less each month?). If necessary, ask a good friend or colleague for advice.
- Focus on making progress, not ticking all your worries off and striving for ‘perfection’.
- Stay on course and come back to your list regularly.
Dealing with worrying is about being proactive. You’re the only one that can begin the process of reducing anxiety, so now’s the time to take some steps. If you don’t know how to begin doing this on your own, it may be best to see a qualified counsellor or therapist to get you started.
*name has been changed
Benefits Of Automated Cash Management
Every entrepreneur knows that cash is the lifeblood of a business, but few realise that the way one manages cash, can be the difference between success and failure.
Automated cash management has become a vital component of every cash-centric business, particularly in the retail trade. As much as the use of credit cards and online banking is encouraged, consumers remain sceptical and nervous of internet fraud and cybercrime and continue to prefer hard cash as the primary means of transacting.
The days of physical cash are not numbered. Current cash in circulation is approximately R140 billion, having grown from R119 billion in 2014, according to the South African Reserve Bank and according to a recent banking report, cash represents close on 90% of all transactions in South Africa.
If you run a business, some of this cash will find its way into your cash register (or, heaven forbid, the envelope you hide in the fridge until you make the trip to the bank). As a business owner, it is your responsibility to keep your cash safe, not just in the interests of profitability, but in the interests of the welfare of staff and customers who could be caught in the cross fire of armed robbers who almost always, get to know what you have been up to!
According to Richard Phillips, joint CEO of Cash Connect Management Solutions, cash automation is the way to go. “Automated cash handling saves money and time, allowing retailers to focus on their core business and greatly improves their risk profile,” he says. And don’t think your enterprise is too small to automate, as cash, whether small or large in volume, remains high on the criminal agenda.
But the real commercial advantages of cash automation are often hidden by safety and security considerations. The advantages of an automated cash handling solution are and should, do much more than giving your cash a safe ride to the bank. Just have a look at what the Cash Connect solution, arguably the most advanced of its kind in the local market could do for you:
1. Increased business efficiency
Bill Gates once said that automation applied to an efficient operation will magnify the efficiency. It is certainly true for automated cash management. It’s fast, accurate and error free. It eliminates all staff touch points associated with manual reconciliations and banking, which gets rid of shrinkage and double count supervision. It lowers insurance and other overhead and back-office costs, along with your exposure to crime, both in store and en-route to the bank.
2. Improved cash flow
With the right solution, your cash will reflect in your bank account on the same day that the cash-in-transit company collects from your premises. Cash Connect goes even further with its Instant Access feature, which allows access to the cash while still in the vault, converting the retailers’ cash into value whenever they need it.
3. Business continuity
Cash Connect guarantees the cash from the time it is deposited into the cash vault, whilst in transit and until the cash reflects in your bank account. This means that from a cash flow point of view, your business can not only survive most crises, but that business continuity is guaranteed.
4. Cost savings
In a manual cash handling environment, the combination of all the elements required to give effect to realising value in one’s bank account will vary with the actual monthly cash turnover; But on R1,5 million of cash receipts a month, the cost will be somewhere in the region of 135 basis points.
A corresponding integrated automated cash management service will cost in the region of 70 basis points.
As a matter of interest, card transactions cost the retailer anything between 300 and 500 basis points – reinforcing why, for the retailer, cash is the preferred medium of payment.
5. Access to alternative funding options
Imagine applying for a business loan, getting funding approval in one hour and having R1,8 million paid into your bank account within 24 hours. Far from a pipedream, this is what Cash Connect recently did for one of its retail supermarket clients under its Cash Connect Capital offering. You too can get fast, flexible, hassle-free, and unsecured growth finance when you need working capital to boost your business.
Having grown Cash Connect from an entrepreneur’s start-up to the success it is today, the Cash Connect team remains driven by the desire to empower and enable South Africa’s SME community and retail sector, by creating a trading environment that takes businesses from a place of safety to a place of growth.
And in today’s modern world, that is exactly how entrepreneurs should think about cash management solutions and how they can improve business efficiency and cash flow.
How To Get A Tax Clearance Certificate In South Africa
This post is for you if you need a Tax Clearance Certificate from SARS. We explain everything you need to know about Tax Clearance Certificates in South Africa: from why you need one to apply for most Tenders, Contracts or RFQ’s to how to get yours as quickly as possible.
When applying for Tenders, Contracts and RFQ’s in South Africa, chances are you need to submit a Tax Clearance Certificate. In this piece we’re explaining the why, the how and the where on getting a Tax Clearance Certificate in South Africa.
We’ve asked our team of specialists at Company Partners to answer frequently-asked questions they get from South African entrepreneurs on Tax Clearance Certificates. Company Partners is a local company who specialises in fast-tracked company documentation like Tax Clearance Certificates.
Here are the questions SA entrepreneurs have on Tax Clearance Certificates and our expert’s answers (you can just skip to the FAQ’s you’re interested in):
- The definition of a Tax Clearance Certificate
- Why do I need a Tax Clearance Certificate for Contracts, Tenders or RFQs?
- How to get a Tax Clearance Certificate in South Africa
- Where to get a Tax Clearance Certificate
- Is a Tax Clearance Certificate compulsory in South Africa to apply for Tenders?
- The fastest way to get a Tax Clearance Certificate in South Africa.
Expert tip: if you’re interested in getting a fast-tracked Tax Clearance Certificate, just call Company Partner’s toll-free number 0800 007 269 or visit their Tax Clearance Certificate page here.
1. The definition of a Tax Clearance Certificate
A Tax Clearance Certificate is essentially a piece of official documentation that your business can get from SARS as proof that you have no outstanding Tax at SARS. Having a Tax Clearance Certificate in South Africa means your business is in good standing with SARS.
2. Why do I need a Tax Clearance Certificate for Contracts, Tenders or RFQs?
You want to partner with credible companies, right? The same goes for companies looking for contractors. That’s why companies want to check if their potential contractors are in good standing with SARS.
You cannot skip your SARS payments and get a Tax Clearance Certificate. You need to “clear” all Tax matters first before you can get the certificate.
In short, that’s exactly why you’ll see most Tenders, Contracts or RFQ’s asking you to provide a Tax Clearance Certificate in your applications/bids. It’s essentially a form of administrative security to ensure you don’t have bad debt with SARS.
3. How to get a Tax Clearance Certificate in South Africa
SARS is the only entity who can issue legal Tax Clearance Certificates in South Africa. However, there are various way to get a SARS-issued Tax Clearance Certificate.
The first method is using eFiling and navigating SARS’s e-portal by yourself.
The second is queuing at a local SARS branch.
The third, and the easiest method is asking a Tax Professional to assist you. This can either be a Tax Accountant, or a fast-tracked company service provider like Company Partners. They have a team of Tax Experts who communicate directly with SARS on your behalf.
Their team specialises in assisting South African businesses to get their SARS-issued Tax Certificate as quickly, and with as little effort as possible.
This is one of the easiest methods to get your Tax Clearance Certificate simply because you don’t need to figure out what, how and where you need to submit your details and the required documentation. Company Partners knows exactly what SARS wants – and also how and where they want it.
This process is also much faster and easier because it’s online and completely rules out queuing and unclarity.
4. Where to get a Tax Clearance Certificate
As mentioned in the previous answer, there are three ways to get a Tax Clearance Certificate. Although all three approaches entail a SARS-issued Tax Clearance Certificate, the third way is by far the easiest and the fastest.
The first method is applying online and DIY via SARS’s eFiling site. This might be complicated and time-consuming if you don’t know exactly what documentation you need to submit and in what formats.
The second method is visiting a local SARS branch for assistance.
The third option is using a Tax Accountant or a professional service provider like Company Partners.
The Company Partners process is simple:
Sign up for their Tax Clearance service here. A dedicated expert will give you a call and walk you through everything. Alternatively, you can call them directly on their toll-free number 0800 007 269.
Follow the easy steps your dedicated Consultant gives you telephonically and via email. If you need any assistance, just contact your Consultant.
They make sure you get your Tax Clearance Certificate in record-breaking time. It’s as simple as that.
5. Is a Tax Clearance Certificate compulsory in South Africa when applying for Tenders?
Usually, yes. Any credible company or government institution will probably request a Tax Clearance Certificate.
A Tax Clearance Certificate issued by SARS is the only proof they have that you don’t have any outstanding debts payable to SARS.
6. The fastest way to get a Tax Clearance Certificate in South Africa
The fastest way to get a Tax Clearance Certificate in South Africa is using a professional to assist you. Before you opt out in fear of the associated cost, there really are cost-effective options for you.
You could use a part-time Tax Accountant to assist you or you could use a service provider like Company Partners. At Company Partners they specialise in offering online and fast-tracked company administration.
Using a professional cuts out the time you’re going to spend queuing at a local SARS branch or trying to figure out what and how you need to submit the required documentation.
You can call Company Partners on their toll-free number 0800 007 269 to start.
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