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Western Cape Businesses Invited To Enter Entrepreneurship Awards

Western Cape businesses have two weeks left to enter the Premier’s Entrepreneurship Recognition Awards (PERA).

the Department of Economic Development and Tourism

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Now in its fourth year, the PERA awards seek to celebrate entrepreneurs who are contributing to job creation and growth. Entries close on 5 September.

Premier Helen Zille and Alan Winde, Minister of Economic Opportunities, last month launched entries for the 2016 PERA awards.

PERA is an initiative of the Department of Economic Development and Tourism. Over 700 entrepreneurs have entered the awards since 2013.

Minister Winde encouraged entrepreneurs to enter. “Through the efforts of our innovative and dedicated entrepreneurs, employment is created for over 500 000 people. PERA seeks to celebrate their achievements and to inspire other potential businesspeople to grow and start businesses.”

The initiative is being co-sponsored by Absa.

Related: Start A Small Business, Become Self–Employed

Doug Walker, Managing Executive for Absa Western Cape, said: “At Absa we recognise the vital role SMEs play in our economy in generating economic growth and job creation – we are delighted to be a partner of the PERA awards. We see the awards as an important platform to showcase and create a culture of entrepreneurship in the Western Cape.

“We also recognise the importance of SMEs as an engine of economic growth and we are committed to partnering with other stakeholders to develop sustainable SMEs. Our support for these awards is in line with our Shared Growth vision, through which we aim to use our assets and resources to grow and develop the societies where we operate while growing our business.”

Absa’s Shared Growth strategy focuses on three priority areas, namely: Education and skills, financial inclusion and enterprise development. Walker said the concept of Shared Growth recognises that:

“As we grow, society prospers, and as society prospers, we grow. This theme of reciprocity is critical if we are to succeed.”

There are 11 categories and the winner in each category will receive R100 000. The second place and third place entrepreneurs will received R50 000 and R25 000.

The overall winner will receive R100 000 prize money to grow their business and an overseas trip to a conference or trade fair.

There will be 3 finalists per category; one winner will be selected per category from the 3 finalists, resulting in 11 winners. An overall winner will be selected from the 11 winners.

The overall winner will be judged on the ability of the business to sustain/create jobs and to increase its turnover in the medium to long-term.

Related: The Most Powerful Advice Entrepreneurs Ignore

Emerging Business

A business in its initial growth phase operating in the Western Cape for 12 months or longer, but not longer than 36 months.

Established Business 

Operating in the Western Cape for longer than 36 months with an annual turnover of more than R10m and less than R50m.

Social Enterprise

Any revenue generating entity operating in the Western Cape for 12 months or longer, which aims to address a social challenge or need.

Innovative Student Business Idea

Student defined in a narrow sense that is any full time student at a Western Cape tertiary institution including TVET colleges. This refers to an innovative solution (idea or concept) to a new problem or service. This category will not be taken into consideration for the overall winner.

Most Innovative Business

Operating in the Western Cape for 12 months or longer. This refers to an innovative solution or approach to an existing service or product.

Job-creating Business

Operating in the Western Cape for 36 months or longer with an annual turnover of less than R10m and an indication of the number of permanent employees appointed over the last financial year.

Emerging Rural Business

A business in its initial growth phase based in areas outside of the Cape Metropolitan area and operating in the Western Cape for 12 months or longer, but not longer than 36 months. The business should have an annual turnover of more than R500 000.

Emerging Tourism Business

A business in its initial growth phase operating in the Western Cape for 12 months or longer, but not longer than 36 months.

Related: 7 Steps To Launching Your Own Business

Emerging Agri-Processing Business

A business in its initial growth phase operating in the Western Cape for 12 months or longer, but not longer than 36 months.

School Business Idea

Any high school in the Western Cape (Grade 8 to 12 learners or equivalent). This category will not be taken into consideration for the election of the overall winner. Learners could also apply independently (prize money to be paid to the applicant).

Business with Global Reach

Operating in the Western Cape for 36 months or longer with a minimum turnover of R10m and less than R50m. The operations of this business should have a global reach.

The overall winner will be judged on the ability of the business to sustain/create jobs and to increase its turnover in the medium to long-term.

To apply, please go to www.wcpremiersawards.co.za or collect a form at DEDAT, SEDA offices, The Business Place or The West Coast Business Centre.

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The Alfa Romeo Stelvio – More Than An SUV

The All-New Alfa Romeo Stelvio draws inspiration from the legendary mountain pass linking Italy to Switzerland, with 48 hairpins in quick succession.

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The All-New Alfa Romeo Stelvio draws inspiration from the legendary mountain pass linking Italy to Switzerland, with 48 hairpins in quick succession. The Stelvio pass is widely seen as one of the most beautiful and engaging roads on the planet.

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Enhance Your Entrepreneurial Flair With An Online Postgraduate Diploma From The University Of Pretoria

The Department of Business Management at the University of Pretoria, a leader in business management education, will be offering an Online Postgraduate Diploma in Entrepreneurship for the 2018 academic year with some seminars to enrich your action learning experience.

Dr Alex Antonites

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The Department of Business Management at the University of Pretoria, a leader in business management education, will be offering an Online Postgraduate Diploma in Entrepreneurship for the 2018 academic year with some seminars to enrich your action learning experience.

The programme content focuses on the start-up processes, creativity and opportunity recognition, business planning and marketing as well as financial management. Furthermore, the programme emphasises entrepreneurial growth and small business policy development with relevance to the enabling environment.

Who should enrol?

The programme is designed for pre-, nascent and start-up entrepreneurs who want to attain an advanced degree in entrepreneurship. It is also intended for individuals who work in an entrepreneurial environment and are involved with small business policy development. Although many students in the programme have academic credentials in entrepreneurship or business management, the programme is also appropriate if your education and/or experience may be in other disciplines (e.g. engineering or medicine).

Admission requirements

A relevant bachelor’s degree.

Related: This Enterprises UP Expert Explains Why Start-Ups Really Fail

Additional programme information

The duration of the course is one year. The language of tuition is English and the course will be presented in two blocks by means of the blended learning method (70% online and 30% contact sessions). Students need continuous access to the internet to complete the course.

Course Contents

Overview of modules for Block A

  • Ideation-to-market: Starting up
  • International Business Venturing
  • Venturing Strategy Building (Part 1)

Overview of modules for Block B

  • Entrepreneurial Marketing
  • Entrepreneurial Supply Chain Management
  • Entrepreneurial Finance
  • Venturing Strategy Building (Part 2)

Click here for more information.

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Win A Business Makeover With Retail Capital To The Value Of R250 000

Retail Capital is giving SMEs an opportunity to win a makeover to build their brand with an investment of R250,000.

Retail Capital

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Retail Capital is giving SMEs an opportunity to win a makeover to build their brand with an investment of R250,000. During the summer campaign, SMEs are encouraged to share the vision of how they would like to see their business grow, and led by a team of experts, Retail Capital will work with the winning SME to help make their vision come true.

While South Africa’s economy is not faring well, Retail Capital CEO Karl Westvig remains optimistic about the country’s retail and hospitality sectors. “We are seeing some green shoots, with an increase in turnover in these sectors – starting from the end of September. Economic conditions remain very tough, but businesses seem to be trading well into October and we’re hoping this continues into the festive season trading.”

According to recent statistics from Statistics South Africa (Stats SA), South Africa’s retail sales rose by 5.5% year-on-year in August 2017, following a downwardly revised 1.6% gain in the previous month and above market expectations of 2.3%. It is the biggest gain in retail trade since August of 2012.

Related: How To Raise Working Capital Finance

“I do believe that these sectors will see an improvement during the summer season. But, key to this will be for small business owners to ensure that they have the right amount of stock, adequate cash flow, as well as other systems in place to meet the ever-changing needs of customers,” says Westvig.

For many small businesses, however, continually adapting to market changes requires cash injections that they don’t often have.

The prize includes the following:

  • Business plan/consulting
  • Marketing strategy
  • Design and branding
  • Website and social Media and,
  • R50k capital to gear your business.

Westvig explains that the summer campaign tagline ‘Your Vision. Our Belief’ really speaks to why Retail Capital first opened its doors. “Our goal is to see the potential of small businesses and to work with them in making these become a reality.”

He adds that the idea is not to simply help one business during the campaign either. Westvig points out that one of the biggest challenges that small businesses face in the sluggish economy is enough foot traffic through their doors. “Generally, the main hurdle in creating brand awareness and projecting credibility of their establishments boils down to establishing a strong online presence.”

“One of the first ways that South Africans identify a business or service provider that they want to work with is over social media – even in a country where the digital divide has traditionally separated the technological haves from the have-nots,” he says.

He explains that companies that don’t have a social media presence are running the risk of being overlooked entirely. “They may attract customers in their own community with signage or word of mouth, but to grow a business, they need to expand their reach – and that’s where social media comes in.”

But, the reality is that resource and time constraints mean that for many SMEs, social media is not prioritised. “Unfortunately for the average small business owner, they don’t have the time or expertise to get connected.”

Understanding the importance of having an online presence, Retail Capital has also committed to developing the digital presence of all campaign entrants. This would include setting up each entrant’s digital presence on platforms such as Google, Facebook, Twitter, Tripadvisor, Zomato and any others that may be relevant to their specific market or industry.

“As a partner to many SMEs in South Africa, we are continually looking at new and innovative ways to help provide them with the much-needed support in order for them to realise their visions. SMEs need to be supported with initiatives like targeted education and training, supportive legislation, and funding opportunities that collectively help them grow our national economy,” says Westvig.

Related: 6 Great Tips For A Successful Shark Tank Pitch

Who we are and what we do:

“More than R1.25 billion has been extended to a range of businesses including food trucks, hair salons, restaurants, spas and franchised retail stores. Many of these businesses have not been able to raise funding in any other way, other than to go to unscrupulous lenders,”says Karl Westvig, the CEO Retail Capital, a company that provides working capital with the help of innovative lending technology.

“We have also estimated that for every R160 000 we lend, we create a new job. This means that 625 jobs have been created purely by enabling small businesses to get the funding they need for working capital requirements or expansion opportunities.”

Retail Capital’s system, which enables it to advance funding to small businesses, based on real time information on credit card transactions, is providing a new funding alternative to entrepreneurs who have previously been turned away by banks. Because it is able to get actual sales information, it can approve funding immediately, and allow for flexible repayment options based on sales cycles of the particular businesses it is funding.

“This creates significant opportunity for small business owners to focus on their business and grow volumes or look for expansion opportunities rather than spend their time frantically trying to repay debt or keep the business alive after debt repayments have eaten away at any cash reserves they might have had.”

Retail Capital funding is repaid by it taking a percentage of a business’s recorded credit or debit card sales, with repayments fluctuating in line with their business cycle. This has the effect of ensuring that it isn’t overburdened with debt.

“In the past six years since starting the business, small businesses have had the benefit of R1 billion in funding they would have been unable to get through traditional channels,”says Westvig.

Against the backdrop of recessionary conditions in South Africa, Retail Capital’s client information reveals growth in informal sector turnover across a number of industries.

“We believe that growth in the informal sector is outstripping that of the formal sector,”says Westvig.

As a large proportion of the businesses it funds are women- and black-owned, there is evidence that entrepreneurs who have previously been excluded from access to finance are now enjoying success now that their access to finance problem has been solved.

Win A Business Makeover with Retail Capital

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