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67CEOs To Host Global Entrepreneurship Week 2018

The Global Entrepreneurship Network operates a platform of projects and programs in 170 countries aimed at making it easier for anyone, anywhere to start and scale a business.

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With the National Development Plan (NDP) estimating that SMMEs will generate a whopping 90% of the 11 million new jobs expected to be created in South Africa by 2030, the rate of established businesses currently sits at a low 2.2%, with a high unemployment rate marked at 26, 7%, remaining unchanged throughout the first quarter of 2018 as compared to the last quarter of 2017.

The ‘triple challenges’ often referred to, when addressing the high levels of poverty, inequality and unemployment (non-inclusive economic growth), which have been classified as major features of many developing countries, particularly in sub-Saharan Africa; the time to actively and intentionally advance inclusive ecosystems could not have come any sooner, especially when looking at enterprise development level, which we need, in order to fast-track the development and establishment of SMMEs and entrepreneurs that can create much need jobs.

The 67CEOs Foundation will host the second edition of its Global Entrepreneurship Week programme, themed “Advancing Inclusive Ecosystems”, which is free and open to the public. The organisation, which provides mentorship and impactful entrepreneurship workshops to newly-established industrialists and SMMEs in partnership with CEOs and seasoned entrepreneurs who volunteer their skills in service to inspire, mentor, coach and teach, will hold events as part of the Global Entrepreneurship Week from 12-16 November 2018. The annual programme will engage in impact focused entrepreneurial activities and connect SMMEs to potential collaborators, mentors, policymakers and even investors.

Related: 5 Different Types Of Businesses

“For us as a nation to see high-growth businesses emerge and thrive, the entrepreneurship ecosystem must be inclusive at all socio-economic levels. Public and private institutional policies and support should be designed and executed so they close historical gaps, alleviate poverty and create sustainable employments,” says Sam Apata, convener of 67CEOs Foundation.

Headed by Sam Apata, 67CEOs Foundation is an independent, South African registered, non-profit organisation that hosts GEW initiatives annually. In partnership with title sponsor, Exxaro Resources, 67CEOs Foundation will host over 500 SMMEs during GEW 2018 at Workshop 17, 138 West Street, Sandton from 9:00am – 3:00pm.

“We operate in an environment of vast inequality, poverty and unemployment, and we are mindful of the fact that we can only bring about change if we all work together.  That is why we are delighted to partner with 67CEOs Foundation to help nurture small and medium sized businesses.

“Exxaro believes that unless we can power better lives for people, then we have not lived our purpose. Exxaro will lead economic transformation by investing in black youth owned small businesses that will create jobs in host communities and beyond,” says Mxolisi Mgojo, CEO of Exxaro.

Some of the key activities during the 67CEOs Global Entrepreneurship Week are: workshops, seminars, pitching sessions, speed mentoring and demo day. CEOs/mentors/facilitators will participate in panel discussions and lead relevant workshops focusing on advancing inclusive ecosystem that encourage entrepreneurship and job creation in South Africa.

With the support of corporate entities to deliver its mandate to advance inclusive entrepreneurial ecosystems and increased economic inclusion while expanding financial and human capital for SMMEs; 67CEOs prides itself on creating avenues that seek to support, carry and advance ecosystems for budding entrepreneurs that continue to face systemic barriers to economic empowerment and independence.

Related: Three Things You Need To Do When Starting A Business

Recognised by GEN Africa, the African chapter of Global Entrepreneurship Network based in Johannesburg, 67 CEOs is one of many event organisers during Global Entrepreneurship Week in Africa.

Agenda

Monday 12 Tuesday 13 Wednesday 14 Thursday 15 Friday 16
67CEOs Ecosystem Connect: Engaging Local municipalities, cities, provincial, national and private sectors in collaboration 67CEOs Women: Inspiring Entrepreneurs + Investors 67CEOs Inclusion: Minimising Barriers + Maximising Inclusion 67CEOs Youth: Shaping the Next Generation of Entrepreneurs 67CEOs Pitching and Mentorship: Business model, Idea challenge + Demo day

There will be parallel masterclass sessions on SMME Financial Management, Business Model Canvas, BBBEE Compliance and Access to ESD, 4th Industrial Revolution, Leadership, and Emotional Intelligence.

“SMMEs are invited to join great leaders in business at 67CEOs GEW2018. This is a great platform for education, inspiration, reflection, celebration, dialogue, networking and investment. Come and acquire the right knowledge that will position you for success in 2019 and beyond,” says Apata.

The Primary Spokesperson for 67CEO’s Foundation, Prinesh Pillay can be contacted on 083 607 8942.

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What Franchises Need To Lookout For From Budget Speech

Franchise business owners are waiting with bated breath for the outcome of the 2019 National Budget Speech to be delivered by Minister of Finance, Tito Mboweni, as they seek more opportunities to increase their contribution to GDP.

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Morne Cronje, FNB Head of Franchising, says the Budget Speech is an important economic indicator that franchises can use to gain insight on the government’s plans on spending and economic growth for the year ahead.

He highlights potential National Budget Speech outcomes that could boost confidence of franchises:

Relief

Any form of relief that is likely to bring positive change, rebuild confidence and address some of the key challenges impacting consumers will be welcome by franchises.

Cronje says consumer spending contributes a significant portion to the profit margins of franchises especially in the food sector.

Economic growth

Rating agencies are keeping a close watch on South Africa’s performance and prospects for growth, which will impact our Sovereign ratings for the rest of the year.

Measures that the government puts in place to promote economic growth this year will be of interest to franchises.

Regulation

Franchise owners will be looking to benefit from regulatory changes that aim to improve growth, operating environment and enhance participation in all facets of the formal economy.

Tax

Based on the Mid-Term Budget Review in October 2018, there’s likely to be no major shake up from a business tax perspective. The anticipated relief in tax will go a long way to boost the profit margins of franchisees.

Infrastructure investment

Spending on infrastructure creates vast opportunities for franchise business owners, as well as job creation in the country. The government has signalled an intention to partner with the private sector to develop an infrastructure fund to increase investment in public infrastructure.

“Franchises that operate in South Africa should prioritise the National Budget Speech as key decisions announced by the minister have a direct impact on their growth,” concludes Cronje.

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5 Businesses You Should Start in 2019

Here’s the lowdown on consumer and technology opportunities in 2019 and beyond.

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Savvy entrepreneurs should keep a close watch on consumer and technology trends in 2019. This, according to Silvertree Internet Holdings Co-founder and MD, Manuel Koser. Having invested in and grown a number of highly successful South African brands (among them Faithful-to-Nature.co.za, UCOOK.co.za, Pricecheck.co.za, CompareGuru.co.za, Petheaven.co.za, Cybercellar.com, and CarZar.co.za). Silvertree’s management team sees several business opportunities set to grow exponentially over the coming decade.

Here’s the lowdown on consumer and technology opportunities in 2019 and beyond.

1. Indigenous and ethical: Personal and home care products

2019 Sees growing potential for personal care products – ‘Those with local and indigenous ingredients, ethical sourcing which is kind to nature and the body,’ Koser explains. ‘There is a lot of room to play in the African haircare market particularly, as it’s often overlooked by the major FMCG companies.’

The Silvertree MD also sees increasing room for innovative natural home cleaners as consumers become increasingly environmentally conscious. ‘Until now, it was all about the well-known cleaning products the major chemical manufacturers put on the shelves. Now, there’s increasing space for new, exciting entrants.’

2. New beverages

‘Locally-sourced ingredients and an earth-first mindset will also play an increasing role in the consumer beverage market. Add to this the fact that major soft drink manufacturers will struggle to produce drinks for increasingly health-conscious consumers. They’re often just not quick enough to adjust to changing consumer tastes – particularly the tastes of millennials. Think less about a standard fizzy drink, but rather one that’s kind to the body, with natural ingredients. Non-alcoholic: water plus, say, cucumber, or another indigenous ingredient. The market for this will grow.’

3. Ethical snacking

Plant-based, vegan, ancient grains, ethical, protein-rich snacks – these are just some of the trends Koser sees dominating in the snack segment in 2019 and beyond. It’s about unique, tasty, functional foods that cater to the modern, time-starved consumer, Koser explains.

4. Buy, sell and compare online

In the technology space, marketplaces, e-commerce sites and classifieds will all gain momentum in 2019 and beyond. This encompasses aggregators as well as more unusual online businesses, which are increasingly able to find and reach consumers interested in niche products and services.

‘Consider an online ice-cream business. Once, something like that would have been unthinkable,’ Koser explains. ‘But as consumers demand greater choice, room for niche products like this grows.’

Yet, dabble online and seamless execution and delivery become make-or-break factors. ‘Many South African consumers use services such as Google, Amazon, Uber and Spotify daily – world-class products that function on a global scale. You can call an Uber and wait for just two minutes before getting a ride,’ Koser explains. ‘It’s quick and totally seamless. Consumers have come to expect that level of service across the board. Aligned to this is the fact that the millennial wave is currently hitting Cape Town right now, and Joburg secondarily, meaning a number of opportunities are opening up. Go after products and services in the right space and consumers will follow.’

5. Reinvent the wheel – and make it better

The final type of business entrepreneurs should keep an eye on is those that currently have low Net Promoter Scores. ‘This means that very few people like them, or the services they provide are of very poor quality,’ Koser explains. ‘Think of postal service providers or telecoms companies. With any monopolistic or oligopolistic structures, the service is often terrible because the heavyweights hold so much power. There’s a huge gap here.’

An allied approach for entrepreneurs is to assess opportunities for automation, or cutting out the middleman with technology. ‘Once, many markets – such as real estate were opaque, meaning you needed a middleman to help you transact. However, as the capabilities of technology have grown, markets have become far more transparent – making it easier for buyers to match with sellers safely. Today, a lot of this is easy to automate services – think about connecting a homeowner to a prospective renter through a digital solution where renters can be qualified, for example, in terms of their finances, personal information and criminal records. Quick and simple. And no middleman.’

The biggest opportunities here centre around where consumers spend the greatest amounts of time and money, Koser notes. ‘Housing and rent are always major costs. In terms of where consumers spend their time, on the other hand, much of it is, on a mobile phone, or PC.’

However, entrepreneurial success is never down to any one magic formula, Koser emphasises. Nor does Silvertree invest in prospective entrepreneurs solely on the basis of the product or service they offer. ‘It’s about passion, perseverance and tenacity as much as it is about the quality of the product.’

Silvertree Internet Holdings is an investment growth partner who aims to understand, grow and scale business, consumer and digital brands to unlock the brands’ exponential growth.

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What To Watch For In Tito Mboweni’s First Budget Speech

By Rob Cooper, tax expert at Sage, and chairman of the Payroll Authors Group of South Africa.

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Finance Minister, Tito Mboweni, delivers his first Budget Speech on 20 February at a difficult time for the South African economy. Even though President Cyril Ramaphosa has done much to restore business confidence in his first year in office, GDP growth remains weak, government finances are in relatively poor shape, and renewed load shedding is hurting business confidence.

Judging from his Medium-Term Budget Policy Statement in October last year, I expect Minister Mboweni — backed by the team in the National Treasury—to deliver a relatively cautious budget. Much of the focus will be on refinancing the state-owned enterprises and putting them back on to a sustainable footing.

We probably won’t see much in the way of radical thinking since the room for manoeuvre is so limited. Click each header below for an indepth video on the upcoming topics.

National Health Insurance (NHI)

Renewal of the country’s public healthcare system with a mandatory health insurance fund and free healthcare at the point of need has been the ANC government’s policy for years, but progress has been slow to date. There isn’t much money in the country’s coffers to fund something as ambitious as NHI, yet the government will want to show that it is advancing the concept ahead of the elections.

With an NHI bill to be tabled in Parliament soon, we could learn more about how NHI will be funded in this year’s Budget Speech — it’s still not clear whether we will pay for it through payroll taxes, VAT increases or other fundraising measures. As an initial step, we could see medical aid tax credits reduced (or at least not adjusted for inflation) to free up some funding for the NHI.

The Employment Tax Incentive (ETI)

The ETI Act came into effect on 1 January 2014; as a fan of this incentive, I was delighted that President Ramaphosa announced that it will be extended for 10 years another decade in his state of the nation address. However, I have also long argued that the scheme is not performing to its true potential because it is so complex for payroll managers to administer.

The introduction of the national minimum wage adds even more complexity— until and unless the ETI Act is amended, SARS is of the opinion that the National Minimum Wage will not qualify as a “wage regulating measure”. I hope the Budget Speech will announce steps to align the ETI with the national minimum wage and take other measures to simplify administration.

Tax hikes

I don’t expect any major increases to corporate or personal income tax this year since the taxpayer doesn’t have much more to give. I think the top 45% rate will remain unchanged, while tax bracket creep relief (to compensate for inflation) will be limited to lower income earners. It seems unlikely that the Minister will increase VAT again this year, given last year’s increase.

That means the Minister is likely to look at ‘moral’ taxes (sin and sugar taxes) to raise more money; we can expect another steep increase in the fuel levy. Perhaps we’ll also hear about efforts to improve SARS’ revenue collection after several years of under-performance. The agency seems ripe for a turnaround strategy, with high-powered team looking for a permanent chief to take the reins at SARS.

Follow us on @SageGroupZA on 20 February 2019 for LIVE expert insights from the annual Budget Speech.

For more information about Sage’s annual tax seminars, please visit: https://get.sage.com/PRL_19Q1_C4L_ZA_EVCU_NPS_AnnualPayrollTaxSeminar2019

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