Delegation is an important management tool for business owners and imperative for an organisation's efficiency.
Brainstorming is universally recognised as one of the best ways to generate creative ideas. Brainstorming has proven to be a great tool for generating a large number of ideas relatively quickly.
Small and medium sized businesses have long been recognised as essential engines of economic growth and employment creation in South Africa. Given the severely negative economic and jobs impacts of Covid-19 and the recent unrest and looting activities in the country, the need to support entrepreneurs, catalyse and sustain significant SMME growth has never been more important, or urgent. And banks have a vital role to play in providing that support.
As an employer, you recognise the value that providing employee benefits offers in terms of attracting and retaining talent. This goes beyond simply providing retirement savings. Retirement fund providers who have detailed insights about the financial circumstances, habits and needs of their members can provide better advice when it comes to holistic financial planning.
If there are other companies that do what you do, why should customers choose YOUR business?
The COVID-19 pandemic has highlighted the importance for follow-up because working remotely requires regular and more focused interaction with your team. Follow-up discussions demonstrate that you are committed to what you say, and the deliverables agreed to, and that you have a keen interest in the employee's progress.
As we edge towards a new normal after the pandemonium of 2020, small to medium businesses (SMEs) and entrepreneurs around the country should be reviewing their cash flow management, having learnt the value of emergency savings last year. FNB, named SME Bank of the Year at the Global SME Finance Forum Virtual awards last year, is rising to meet this need with the FNB Business Call Account, tailored to cater to specific business needs.
With the economic aftermath of COVID-19 still lingering, business leaders are faced with a unique conundrum of cash flow. We are continuously challenged to learn and adapt to a more "platform-based" economy with sound cash flow management practices for sustained future growth
Knowing exactly what the future will bring has never been a sure thing - but Covid-19 has taken this to extreme & daunting new levels. Is your business ready for the future?
Leadership is multifaceted and includes among many things, giving both direction and advice to others. This means you will need to provide guidance and instruction from time to time.
When you have power disruptions attributable to ageing grid infrastructure and load shedding, there are available various alternative energy sources of which solar energy is the most generally acceptable. As a technology, solar is tried and tested, and in recent years it has become highly affordable
Setting goals and developing plans to reach them are the only way to avoid getting lost in a whirlwind of empty intentions. Futhi Cabe tackles this topic
Time-management is about how you organise your day, your tasks and workload. Your team can save your time and theirs if you take the initiative as well as encourage them to be time conscious.
As a business owner, being in sync with competitors in your industry is a must. Learn from them - then differentiate yourself.
Procrastination is arguably one of the main reasons we, both in our personal and business lives, don't perform to our full potential.
South Africans spend over 9 hours a day using the internet. What's your business doing to get noticed online?
The effects of the COVID-19 pandemic have meant that life as we once knew it will not be the same in the future. Individuals and businesses alike have had to rearrange their lives and prioritise certain aspects.
The Africa Continental Free Trade Area (AfCFTA) agreement came into effect on the 1st of January 2021. A total of 54 of Africa's 55 countries have agreed, in principle, to participate, and 41 have submitted their tariff offers. However, to date, only 34 countries have officially signed and ratified it. A total of 15 countries need to ratify the agreement in order to enable its full enforcement.
We get it. Running your own business is daunting at times so here is a free SME eBook to guide and inspire you towards growing your business and the journey that lies ahead of you.
It has been a difficult few years for South African fuel retailers. The market has been shrinking since 2016, and COVID-19 has accelerated this trend. Alongside a slowdown in economic activity as a result of national lockdowns, lifestyles have changed. More people working from home and increased computing and network penetration mean less traveling. This suggests that even as economies begin to recover, demand for fuel is likely to lag.
It is one thing to have to deal with the constant shifting challenges of a regular business environment, but it is a totally different set of challenges to have to deal with when you cannot operate your enterprise at all.
Futhi Cabe, head of WesBank's SME segment talks about the importance of knowing your business' position in the market
The impact of COVID-19 has been devastating for small businesses, and as the economy begins to slowly open, business owners will be forced to adapt quickly to a very different business environment. However, some business owners may not have considered what might happen to their businesses should they themselves be hospitalized.
29 June 2020: The challenges and complexities that fleet owners currently face in their efforts to optimise fleet operations and ensure continuity of services should not be taken lightly. At this point in time, it is critical that these companies partner with the right fleet management service provider. This is according to John Loxton, WesBank Head of Fleet Management & Leasing.
"Mental health difficulties affect everyone, and they don't discriminate," says John Loxton, WesBank Head of Fleet Management & Leasing. "Trucking poses several risk factors when it comes to mental and physical health issues, and can contribute towards loss of productivity, lack of motivation and loss of business."
As cybercrime continues to be one of the barriers that hinder the growth and potential of e-Commerce activities in South Africa, FNB is rolling out its Online Secure authentication service to all merchants and individual customers to provide an additional layer of security for digital transactions.
2021 will not be without challenges, the Coronavirus still lingering across the world albeit creeping closer to the vaccine, and South Africa still facing "old structural issues" that hamper its economic performance, Nevertheless, we expect a positive economic growth year in 2021 after a severe contraction in 2020.
These bottom-line benefits of Black Friday make the 2020 instalment of the event particularly relevant for retail businesses in South Africa. Especially given that most are in desperate need of a revenue injection after the protracted slow trading period on the back of Covid-19 and the national lockdown response. Many retailers are also sitting on significant amounts of stock, much of it acquired before the arrival of Covid-19, or even remaining from the 2019 festive period, and Black Friday presents a unique opportunity to move it to make way for new festive season inventory.
Sharp interest rate cuts earlier in 2020, a response to the COVID-19 crisis, has made home buying significantly more appealing - causing a national increase in rental vacancies.
Given the financial impact of the Covid-19 pandemic, businesses resuming activities cannot afford to be caught off-guard without a reliable alternative energy solution in place.
Against the backdrop of a weak economy, businesses face further challenges when it comes to sustainable power supply.
The evolution of a global economic system is arguably one of the most important developments of the past 100 years. Love it or loathe it, globalisation gave rise to significant growth in trade between countries and this international trade has been a key driver of economic growth for the vast majority of countries across the globe.
FNB has partnered with various business leaders to see how they are navigating this crisis. Scroll down to learn from the experts.
Phumlaphi 'Rita' Zwane has become something of an icon for success, entrepreneurship and community support in the township of Tembisa, in Gauteng. The story of MaZwane is one of persistence, focusing on your goals and not losing sight of your roots as one climbs the ladder to success. Read the full interview here.
As the COVID-19 infection rate slows down and recoveries pick up, so too many businesses, in the SME sector particularly, are starting to find their new normal in a relaxed lockdown scenario. This means that in addition to financial support businesses need access to guidance around efficient resource management and robust business decisioning-making concepts.
As the COVID-19 infection rate slows down and recoveries pick up, so too many businesses, in the SME sector particularly, are starting to find their new normal in a relaxed lockdown scenario. This means that in addition to financial support businesses need access to guidance around efficient resource management and robust business decisioning-making concepts.
Every successful entrepreneur will tell you that 'cash flow is the lifeblood of every business', and that without it your business will simply not survive. The effective management of cash flow is essential for any successful business to survive, especially in the current economic environment. It provides a business with the funding it needs to run its day to day operations and help protect it against unplanned expenses.
Nothing pushes the digital transformation of a business, big or small, like a worldwide pandemic. Responding to the virus, humans are now living in increasingly isolated conditions to keep the infection from spreading. This has an adverse effect on businesses, especially small-to-medium businesses combating a struggling economy and trying to manage a newly remote workforce.
The world of business is constantly shifting and evolving to fit the demands of a society that alters alongside it. In the wake of the global pandemic, businesses must adapt to a landscape that's both unpredictable and shifting faster than expected. With so many companies adopting a work-from-home model, the need to embrace technology as a means of growth, communication and opportunity are more important than ever. With the pandemic disrupting traditional and arguably outdated business practices, learning to embrace the future and present isn't just convenience, it's a necessity. Here's what you need to move with the times and stay relevant in this brave new world.
On Friday, 27 March 2020 Moody's (one of the three major credit rating agencies) downgraded South Africa's sovereign credit rating to sub-investment grade while maintaining a negative outlook.
Oil prices are driven by three factors, namely supply, demand and market sentiment.
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