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6 SAB Entreprenurship Programmes That Provide Business Management And Support

We believe in the power of one idea. One idea that gives life to a business and drives it towards greatness.

South African Breweries (SAB)

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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.

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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.

Related: How To Raise Working Capital Finance

There are two parts to the programme – SAB KickStart Ignite and SAB KickStart Boost.

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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.

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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

sab-foundation

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

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.

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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.

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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

Related: 6 Money Management Tips For First-Time Entrepreneurs

sab-thrive

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:

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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.

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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

Related: The Truth About Venture Capital Funding

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South Africa has been home to The South African Breweries (SAB) since the company’s humble beginnings over a century ago in the midst of Johannesburg’s pioneering days of the gold rush. Our history can be traced back to Charles Glass and the Castle Brewery that he started in 1888. Glass insisted that his brewery sell only the finest beers, which were highly sought-after by the 200 pubs that had sprung up in the city at the time. That level of quality has stayed with us since the beginning.

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South Africa Seeks Innovative Solutions to Payments Systems

How to bridge the divide and bring FinTech technology and a new infrastructure of POS systems to the masses.

Harald Merckel

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News has been circulating that high-level players in South Africa are working hard to introduce structural changes in payments solutions. Some of the biggest players in the industry, including the Payments Association of South Africa, and BankservAfrica have begun work in earnest on facilitating expedited transactions settlements, by adding new payments systems and features into the market.

Financial technology, a.k.a. FinTech is powering the payments gateway to cost-effective solutions for South African businesses, consumers, domestic and international stakeholders. According to industry pundits, the payment system that currently exists in South Africa was formulated in the 1980s. At the time, it was highly regarded by world standards. However, the rampant innovation that has taken place with the Internet of things since then necessitates updating.

Various solutions have been touted, to rethink the infrastructure framework that currently exists in South Africa. The economy is rapidly changing, and mobile technology is being embraced across the board. The South African payments system is long overdue for an upgrade, as shifting priorities and the widespread digitisation of the economy take place. For starters, payments solutions across South Africa must factor in the large underbanked and unbanked sectors of society.

Related: 6 Lessons The Founders Of iKhokha Used To Launch An African Fintech Start-up

A key industry player, Bankserv which is owned and operated by Standard Bank, ABSA, and Nedbank among others is ringing the changes. Back in 2017, this financial entity processed R188.2 billion worth of ATM transactions. The total number of transactions numbered 452.6 million additionally. It processed 52.5 billion POS transactions valued at R290.9 billion in credit card authorizations in the same year. Electronic funds transfers (EFTs) to the value of R9.4 trillion were also processed by Bankserv. These are significant figures, and they point to a shift in financial transactions processing in South Africa.

Groundbreaking POS Systems to Debut in SA

The widespread innovation currently taking place in POS systems is reshaping retail industry, the food and beverage service, and other merchant networks across the board. One of the industry leaders in this regard is revel systems POS. It is fully integrated with a robust selection of features, the likes of which include superior reporting features, full kiosk functionality, and a modern kitchen display system for the thriving restaurant industry in South Africa. The technology was created back in 2010 by Chris Ciabarra and Lisa Falzone as an innovative Apple iPad point-of-sale system. It was tested in the San Francisco Bay Area and became an instant hit.

Today, the Revel POS system sports 25,000+ terminals around the world, at high profile company such as Cinnabon, Goodwill, Smoothie King and others. South African restaurants and food industry businesses can enjoy monthly subscription fees, and the software license is included in the monthly subscription fee. Flexible pricing is another advantage of using this POS system. Plus, users get to enjoy industry-specific software and integrations that can be used by quick service businesses and restaurants.

It’s ideally suited to businesses that have 500,000 SKUs, although it’s equally adept at serving smaller SA businesses. In terms of ease-of-use, this POS is intuitive for front-end use, and training videos facilitate backend learning and integration. The backend management is particularly effective in terms of training regimens, navigation, and utilisation. All that’s required to get started is an Apple iOS device, and any standard barcode scanner is fully compatible with the system.

Related: How Fintech Zoona Is Solving Customers’ Real Problems

Among the many features include the following:

  • Fully Functional point-of-sale systems
  • Real-Time Inventory control of SKUs, including cost considerations, pricing, inventory, size, colour, style etc. Digital menu boards, kitchen display systems, and kiosk point-of-sale systems are also available
  • Purchase Order Management and QuickBooks integration
  • Customer Management in terms of purchases, details and personal data is also available.

What Are the Current FinTech Challenges in South Africa?

Contrary to widespread belief, South Africa has one of the most sophisticated payments infrastructures. This is certainly a feather in the cap for South Africa’s financial and FinTech sector. Given that Internet usage is widespread, and the telecom network that facilitates Internet functionality is highly developed, South Africa ranks on par with the best of them.

There are effectively 2 parallel economies operating in South Africa – the first world developed FinTech economy, and the informal economy which dominates the outlying areas. South Africa has a challenge on its hands: How to bridge the divide and bring FinTech technology and a new infrastructure of POS systems to the masses.

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Company Posts

Investing In Value Creation Tools Can Help Your Business Grow

ACCA on attracting new clients, establishing and strengthening commercial partnerships and accessing external finance to help your business expand.

ACCA

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The business journey of many SMEs is often characterised by a gradual change in internal management practices which develop as the business operations grow. The subsequent recognition of the business’s value creation, across all its operations – tends to emerge slowly but surely alongside this process.

Gaining an understanding of ongoing value creation can be challenging. This is because smaller companies tend to not have access to simple and understandable data sets on everything, which is and isn’t contributing to value across the business.

For example, customer and supplier relationships, human capital and intellectual property are all common examples of activities where SMEs regularly experience difficulties in determining the real contribution to the businesses’ overall value. These are areas that are not picked up by financial reports that are a focal point of many growing businesses, hence the importance of these areas in business is not given the proper attention it deserves.

Related: Achieving Business Success: How Walter Muwandi Gained The Edge

However, by improving trust and relationships between customers and those along your supply chain, this information can be used to attract new clients, establish and strengthen commercial partnerships and access external finance to help your business expand.

Key actions to consider when capturing the value within your business include the following:

  1. Use cloud and data analytics technology to support growth;
  2. Create a business strategy which incorporates everything;
  3. Allow staff to use new technologies to innovate; and
  4. Appreciate the importance of technology in attracting external finance.

These actions will help you succeed in developing a successful business strategy.

Use cloud and data analytics technology to support growth

Purchasing relevant software packages could help you access the data you need to understand where and when value is being created. Cloud and data analytics technology can provide a real-time flow of information, offering detailed measures across workflows, whilst also complementing existing reporting processes.

More long term, this technology can provide you with greater flexibility when anticipating future periods of growth.

For example, when the time comes to up-scale your business operations, it could help your finance function adapt more easily to any additional demands being placed upon it and mitigate the risk of disruption towards ongoing operations.

At the same time investing in this technology doesn’t have to happen overnight. Software packages can be purchased in stages and tailored to meet the specific needs of your business.

Create a business strategy which incorporates everything

Business success will often be determined by how effectively you can combine the value of ongoing operations into the development of a single, overarching business strategy. Understanding of the key strategic themes by employees is critical in aiding future business expansion plans and growth. This integration can support planning processes.

By taking a short, medium and long-term view on how value creation might change across the business, you will be in a much better place to identify upcoming risks and opportunities related to your growth ambitions.

The practical delivery of this might involve regular integrated reporting across your business’s operations. The more data that is involved in this process, the more helpful it will be towards informing your management decisions.

Allow work teams to use new technologies to innovate

Companies might also want to consider supporting work teams in certain areas to come up with new ideas to enhance plans for business growth and learn from possible failures, without the personal risks that entrepreneurship entails.

Allowing employees to use new technologies could help to reduce costs and offer new revenue opportunities as your business expands. It could also help to stimulate a high growth business and to fully communicate business’s value to potential clients and commercial partners.

Related: The Rise Of Digital In Shaping Business Terrains

Appreciate the importance of technology in attracting external finance

Investing in technology at an early stage can help attract external investors, as well as reducing the cost of raising growth finance. Such investors need to be able to understand the broader strategy of your business.

Lenders are increasingly using data to build up a broad perspective on the growth potential of SMEs. If you can provide real-time information – rather than just historical data – of your business’s performance, this could greatly increase the chances of obtaining the finance you need to grow.

However, there remains a gap and potential to co-create new approaches of raising capital amongst growing businesses and in creating agreed terms of sharing risks. This could bolster the advancement of entrepreneurial houses toward creating real economic equity in long term.

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Accounting & Payroll

Save Your SME Money With A Good Payroll Management System

Not only does an efficient payroll system enhance staff morale and boosts your reputation, it can also save your business significant costs.

Sage

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Payroll solutions are designed to help hone the strategic focus of your business’ HR department, by shifting HR and payroll managers’ from paperwork to developing and motivating employees.

“The biggest potential saving comes from full compliance with tax and labour laws and regulations,” says Ania Strydom, Compliance Specialist at Sage. “Avoiding the massive costs of fines, interest and penalties that a company risks if it doesn’t comply.”

Here are her tips for conducting payroll, saving money on a good system, and pitfalls to avoid that most SMEs don’t see coming:

Choosing a viable payroll management solution

  • Look for a scalable product that can grow alongside the business
  • Find a solution with full local support that is kept up to date with relevant labour and tax laws for the markets where the business operates
  • Make sure the vendor has a proven track record and local reference sites
  • Ensure that the solution is built on flexible modern technology that accommodates today’s trends — mobility and the cloud, for example
  • Consider a solution with integrated employee self-service functionality.

Related: Brand And Marketing: Finding The Balance For SMEs

Vital considerations when conducting payroll

  • Ensure that the payroll department consists of people with a good knowledge of payroll and the required skills set to ensure success and compliance with payroll
  • Instil a payroll environment that does not need regular review
  • Conduct regular payroll compliance audits to ensure compliance minimises the risk of exposure.

How a good payroll management system actually save you money

  • Using automated payroll software with employee self-service functions can help organisations save time as it diminishes the need for manual data capture, calculations, reporting or returns
  • Rest easy knowing that automation reduces the possibility of human error, allowing businesses to focus on strategy, customers, and employee engagement rather than on red tape
  • Payroll can help businesses understand how employees are contributing to profitability, what resources are needed, the cost for major projects, and identifying gaps or surpluses in their human capacity
  • The risks of payroll fraud and incorrect payments are reduced by giving managers better visibility into transactions, providing an audit trail, and providing a set of controls, checks and balances
  • The biggest potential saving comes from full compliance with tax and labour laws and regulations – avoiding the massive costs of fines, interest and penalties that a company risks if it doesn’t comply.

Related: SME Leaders: How You Can Manage Growth

Avoid payroll errors SMEs typically make

  • The use of manual solutions due to tight budgets. They should instead, look at affordable, cloud-based solutions that are priced per payslip per month instead
  • Failing to enforce separation of duties. Different people should have responsibility for capturing payroll data and for managing access to the system as well as adding and removing employees from the payroll. Another person checking that the numbers add up could reduce risks of fraud and error
  • Not keeping abreast of changes to tax and labour laws such as the Employment Tax Incentive.

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