When used appropriately in conjunction with a proper cash management strategy, credit can be a great tool for small business to supplement short-term cash challenges.
During the first six months of its financial year, FNB Business banked SME limits reached more than R30bn on the back of simplified, scored, digital lending processes.
Small business owners who have a short-term commercial insurance policy are often not aware that they may not be covered for the loss of income, under a standard commercial policy.
As part of its commitment to help grow SMEs through lending, FNB now enables businesses to completely take up credit and investments via the FNB App.
Small business owners who are experiencing cash flow challenges should consider improving efficiencies in their payments collection and processing methods to free up working capital.
Infrastructure that supports agriculture such as roads, ports and rail needs serious upgrading. The Minister's announcement for supporting private sector investments in agriculture by emerging farmers is most welcome.
Business owners who are planning for the year ahead should not overlook the importance of reviewing their insurance policies to ensure they are adequately covered against insurable risks.
With 50% of South Africa's urban population living in townships, the ecosystem supporting these communities warrants significantly greater focus from the banking sector. We refer to this opportunity as the "Unseen Economy"
The franchising sector has shown steady growth over the past 4 years, in a tough economy - from contributing an estimated 9.7% to the country's GDP in 2014 to its recent figure of more than 15%, according to the Franchising Association South Africa ("FASA") 2018 survey. And this trend is expected to continue.
From an investment perspective, the market reacted by pushing bond yields higher and the currency weaker. A downgraded economic growth outlook would always mean that revenue estimates would be reduced.
Africa's first hosting of the largest telecomms conference in the world was an important opportunity for the industry to showcase South Africa to the 91 attending countries.
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