This document summarizes research on small and medium enterprises (SMEs) in Gauteng, South Africa. It includes:
- Quantitative findings from a 2006 survey of 1,053,818 small businesses in Gauteng, identifying challenges around access to capital and use of support organizations.
- Qualitative findings from 11 focus groups with SME owners, revealing needs for financial management training, developing business and marketing plans, and challenges accessing financing due to lack of collateral and financial records.
- Recommendations to improve SMEs' awareness and use of financial business development services, including dedicated capacity building, improved communication from support organizations, and integrated multi-sector advising.
2016_08_Entrepreneur_Fund your business (1)Nadia Rawjee
This document provides information on finding funding for a business in South Africa. It discusses the following key points:
1) The first step is to understand your business needs and phase (idea, startup, growth, etc.) to identify the right sources of funding.
2) There are multiple government institutions and funds that provide loans or grants for businesses, targeting different industries, ownership criteria, and business phases.
3) The document provides a table outlining various funds from the National Empowerment Fund and Department of Trade and Industry, including their mandates, eligibility, and contacts.
4) Understanding the specific requirements and target audience of different funders is essential to successfully securing the right funding for a business
SMEs play a major role in job creation but face significant financing constraints. They provide over 50% of formal jobs in emerging markets and create the majority of new jobs, especially in low-income countries. However, SMEs experience a large financing gap estimated at $1 trillion. Improving access to finance for SMEs through measures like credit reporting, collateral registries, and innovative financing structures can significantly boost employment and economic growth. The SME Finance Forum was created as a global knowledge sharing platform to disseminate best practices in SME financing.
The presentation provided key findings from a report on the future of audit conducted by ACCA and Grant Thornton. It summarized feedback from roundtables in several countries. Singapore participants felt audit needs to better meet different user needs, provide early warning signals, and evolve with increasing business complexity. They also emphasized the importance of auditors gaining management insights and using technology. The presentation then discussed how cognitive computing is changing audit through capabilities like learning, understanding unstructured data, and automating processes while improving cost and value. It provided examples of IBM tools and capabilities that bring these benefits.
MI-SBTDC provides comprehensive small business assistance through the Small Business Administration, Michigan Economic Development Corp, and local partners. They have four full-service offices located in Wayne, Oakland, and Monroe counties. Staff include business consultants, manufacturing specialists, and technology experts. Core free services include business counseling, secondary market research, and business education trainings and seminars on topics like business plans, finance, and legal issues. Financial analysis assistance includes assessing financial statements, benchmarking against industry ratios, and identifying performance opportunities. Consultants also help with capital access planning, market research, and connecting clients to appropriate funding sources.
Starting a First Nation’s Economic Development Corporation Workshop icablearning
Why an Economic Development Corporation? • Vision and Mandate • Legal overview • Structure • Functions- HR, operations, finance, marketing, and governance • Board strategy • Link to lands management
Why a Development Corporation? • Systematically remove barriers to development • Is a structure for accessing business opportunity • Structure to manage business, projects and distinguish from the FN Government • Separate risk from the FN
This leaflet is about us at Grant Thornton and how we help our clients. For more information about our services, publications and surveys as well as current figures regarding turnover, number of employees, etc, visit www.grantthornton.se/english.
The document discusses the International Federation of Accountants (IFAC) and its focus on the global accountancy profession. It summarizes IFAC's services including establishing standards, adoption/implementation support, quality development, and representing the profession. A large portion discusses IFAC's work related to professional accountants in business, including areas of importance, competency development, and the role of Chief Financial Officers. It also summarizes IFAC's responses to issues like the global financial crisis and its frameworks/guidance on topics such as risk management, governance, and integrated reporting.
UC STRATEGY has covered a wide spectrum of financial services like broking firms, investment services, financial consulting, and numerous private banks.
2016_08_Entrepreneur_Fund your business (1)Nadia Rawjee
This document provides information on finding funding for a business in South Africa. It discusses the following key points:
1) The first step is to understand your business needs and phase (idea, startup, growth, etc.) to identify the right sources of funding.
2) There are multiple government institutions and funds that provide loans or grants for businesses, targeting different industries, ownership criteria, and business phases.
3) The document provides a table outlining various funds from the National Empowerment Fund and Department of Trade and Industry, including their mandates, eligibility, and contacts.
4) Understanding the specific requirements and target audience of different funders is essential to successfully securing the right funding for a business
SMEs play a major role in job creation but face significant financing constraints. They provide over 50% of formal jobs in emerging markets and create the majority of new jobs, especially in low-income countries. However, SMEs experience a large financing gap estimated at $1 trillion. Improving access to finance for SMEs through measures like credit reporting, collateral registries, and innovative financing structures can significantly boost employment and economic growth. The SME Finance Forum was created as a global knowledge sharing platform to disseminate best practices in SME financing.
The presentation provided key findings from a report on the future of audit conducted by ACCA and Grant Thornton. It summarized feedback from roundtables in several countries. Singapore participants felt audit needs to better meet different user needs, provide early warning signals, and evolve with increasing business complexity. They also emphasized the importance of auditors gaining management insights and using technology. The presentation then discussed how cognitive computing is changing audit through capabilities like learning, understanding unstructured data, and automating processes while improving cost and value. It provided examples of IBM tools and capabilities that bring these benefits.
MI-SBTDC provides comprehensive small business assistance through the Small Business Administration, Michigan Economic Development Corp, and local partners. They have four full-service offices located in Wayne, Oakland, and Monroe counties. Staff include business consultants, manufacturing specialists, and technology experts. Core free services include business counseling, secondary market research, and business education trainings and seminars on topics like business plans, finance, and legal issues. Financial analysis assistance includes assessing financial statements, benchmarking against industry ratios, and identifying performance opportunities. Consultants also help with capital access planning, market research, and connecting clients to appropriate funding sources.
Starting a First Nation’s Economic Development Corporation Workshop icablearning
Why an Economic Development Corporation? • Vision and Mandate • Legal overview • Structure • Functions- HR, operations, finance, marketing, and governance • Board strategy • Link to lands management
Why a Development Corporation? • Systematically remove barriers to development • Is a structure for accessing business opportunity • Structure to manage business, projects and distinguish from the FN Government • Separate risk from the FN
This leaflet is about us at Grant Thornton and how we help our clients. For more information about our services, publications and surveys as well as current figures regarding turnover, number of employees, etc, visit www.grantthornton.se/english.
The document discusses the International Federation of Accountants (IFAC) and its focus on the global accountancy profession. It summarizes IFAC's services including establishing standards, adoption/implementation support, quality development, and representing the profession. A large portion discusses IFAC's work related to professional accountants in business, including areas of importance, competency development, and the role of Chief Financial Officers. It also summarizes IFAC's responses to issues like the global financial crisis and its frameworks/guidance on topics such as risk management, governance, and integrated reporting.
UC STRATEGY has covered a wide spectrum of financial services like broking firms, investment services, financial consulting, and numerous private banks.
This document discusses reimagining business development services (BDS), also known as technical assistance (TA), provided by CDFIs to their small business loan clients. It argues that BDS should be viewed as a discrete product or strategy to support portfolio performance and mission. The document provides examples of how BDS can be improved by establishing clear goals, metrics, engagement strategies and funding models. It also presents a case study of how one CDFI, Working Solutions, redesigned their BDS program through improved processes, staff roles and impact tracking.
Business incubation provides business support services to help new companies become established and profitable during startup. It offers advice, services, networking and mentoring through four phases: pre-incubation for planning, early stage for marketing and legal help, classic incubation for office space and funding access, and graduation for close marketing support. Key factors for success include involvement from private sector partners, improving incubator staff skills, linking to other SME programs, and finding sustainable funding sources. Establishing a business incubator requires feasibility studies of the market need, stakeholder support, facilities, and financial viability.
This document discusses business incubation financials and sustainability. It provides that business incubators help nurture young entrepreneurial companies by providing tailored resources and services to help them survive and grow during the startup period. It also notes that incubators aim to create jobs, improve the entrepreneurial climate, and accelerate growth. However, incubators face financial sustainability issues and must consider revenue models like rental fees or capital gains to become self-sufficient over 5-10 years while avoiding mission drift. Both impact and sustainability are important for incubators to serve as examples to their clients.
China IPO CFO Report - July 2015 - FinalRachel Ouyang
The document analyzes the backgrounds of CFOs at 50 Chinese companies recently listed on the NYSE and NASDAQ. It finds that most CFOs are from Greater China and belong to a younger age group than CFOs of large multinational companies. Nearly half were appointed in 2014 alone, and appointments are expected to increase further with continued IPO activity. Most CFOs have international experience but also deep local Chinese market knowledge. Their average tenure is shorter than other CFOs due to high demand post-IPO. The analysis provides insights for companies on selecting CFOs with the right skills for different growth stages.
Over the course of 2017-2019, the Ye! Community undertook a series of activities in partnership with Mastercard
Foundation. This impact report details the project activities and its outcomes.
GT Events and Program Guide is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
This document discusses early stage funding sources for entrepreneurs, including personal funding through self-funding, moonlighting, or bootstrapping. It also covers angel financing, funding from friends and family, bank loans, programs from the Small Business Administration (SBA) like SBA loans and the SBIR program, small business investment companies, state development programs, and sources for finding investors like angel networks, venture capital firms, and investor directories. The most common sources of startup capital cited are personal savings, family, and bank loans.
The document summarizes a presentation about how nonprofits can generate revenue through social enterprises. It discusses identifying organizational assets that could be leveraged, turning those assets into business opportunities, screening opportunities, conducting feasibility assessments, creating business plans, and implementing successful social enterprises. Examples of social enterprises launched by nonprofits in North Texas are provided. The presentation encourages nonprofits to consider social enterprise as a way to diversify funding and generate sustainable revenue to support their missions.
This presentation is brought to you by Iowa Economic Development Area. It explains what TSC is, why it matters, and how you can acquire the certification.
2014 Annual Convention Presentation Alternative Financing Martín Klotzman
This document summarizes a presentation on alternative financing and the future of equipment finance. The presentation includes an overview of alternative finance, details on typical business models like reward-based, donation-based and lending-based models. It also includes deep dives on two alternative lenders, RapidAdvance and Funding Circle USA, covering their products, underwriting processes and growth. The presentation discusses trends in alternative financing like rapid growth and increasing competition. It also touches on regulatory challenges and opportunities for traditional finance companies.
This document discusses establishing an Agri Business Incubator (ABI) at IIAM. It outlines the goal of preparing a business plan to support the incubator. It then discusses defining the incubator's focus, location, organizational structure, services, funding sources, and revenue model. The next steps are to gather feedback, develop a draft business model, identify resources and funding, and draft a memorandum of agreement with ICRISAT to finalize the business plan for the ABI at IIAM.
Bangladesh is successful in garments sector primarily without policy support but government came with some policy support such as Bonded warehouse and Back to Back Letter of credit for import of raw materials from other countries. The growth of export of garment is allowing down as Bangladesh only produce low cost garment and "experts" suggesting entrepreneurs to go for high value garment without policy support. Bangladesh needs technology and development of own brands for overseas market.
Allan Viscardi has extensive experience as a CFO, COO, and financial consultant for various companies. He has led operational and financial improvements through strategic planning, process redesign, and systems implementation. Key skills include financial management, business development, risk management, and talent development. Viscardi has worked with companies in various industries such as healthcare, construction, and technology. His background includes positions at large companies like Citigroup and experience launching and advising smaller businesses.
ODA for Capacity Building in the Social Enterprise- and the SME-Sector in IndiaMartin Vogelsang PhD
Based on my long-standing experience as impact investor in India I would like to suggest that Official Development Assistance (ODA) coming into the country is disbursed more strongly towards capacity building (training, education) and supporting the incubation of viable social enterprises and inclusive businesses catering to the “Base-of-the-Pyramid”. Investing into this area of the Indian economy would not only help alleviate to poverty and at least partly solve some of the grave environmental problems the country is facing. Such an initiative could also help India’s corporate sector become more engaged in creating and scaling innovative solutions in the areas of technology or financial services that could open up new markets for them.
Alternative Finance for Small and Medium EnterprisesSME Finance Forum
This document discusses alternative financing options for small and medium enterprises (SMEs). It notes that 45-55% of SMEs have unmet financial needs and access to financing is a major constraint. High-growth SMEs are responsible for a disproportionate number of jobs but banks are not incentivized to support them due to risks. As such, innovative structures like private equity, supply chain finance, crowdfunding and moveable asset registries can help fill financing gaps for SMEs at different development stages. The SME Finance Forum promotes knowledge sharing on expanding access to finance for SMEs and women entrepreneurs globally.
GT Events and Program Guide is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
This document discusses different types of fruit preserves such as jam, jelly, and marmalades. It describes variations like chutney, which is a spicy Indian relish made from fruit, spices and herbs. Confit is also discussed, which preserves fruits or vegetables using honey or sugar until jam-like. Conserves are whole fruit jams made by stewing fruit in sugar. The document then explains the basic production process for making jam, which involves boiling mashed or chopped fruit with sugar and water until it reaches 104°C and sets upon cooling.
Our organization has over 6,700 members globally from 242 countries. Membership subscriptions range from £300 to £300,000 annually, with the basic welcome pack costing £20. Recruiters earn 10% commission on the subscriptions of members they recruit.
Jam:
• Jam is a solid gel made from the pulp of a single fruit or combination of fruits with a fruit content of at least 40% and a total sugar content of not less than 68% to prevent mould growth after opening the jar. In mixed fruit jams the first-named fruit should be at least 50% of the total fruit added.
Jelly:
• Jelly is a crystal-clear jam, made from filtered juice instead of fruit pulp.
Shelf-life: The principles of preservation are heating to destroy enzymes and micro-organisms, com- bined with high acidity and sugar content to prevent re-contamination. Jams and jellies can be kept for several months when stored in a cool dry place, away from direct sunlight.
This document discusses reimagining business development services (BDS), also known as technical assistance (TA), provided by CDFIs to their small business loan clients. It argues that BDS should be viewed as a discrete product or strategy to support portfolio performance and mission. The document provides examples of how BDS can be improved by establishing clear goals, metrics, engagement strategies and funding models. It also presents a case study of how one CDFI, Working Solutions, redesigned their BDS program through improved processes, staff roles and impact tracking.
Business incubation provides business support services to help new companies become established and profitable during startup. It offers advice, services, networking and mentoring through four phases: pre-incubation for planning, early stage for marketing and legal help, classic incubation for office space and funding access, and graduation for close marketing support. Key factors for success include involvement from private sector partners, improving incubator staff skills, linking to other SME programs, and finding sustainable funding sources. Establishing a business incubator requires feasibility studies of the market need, stakeholder support, facilities, and financial viability.
This document discusses business incubation financials and sustainability. It provides that business incubators help nurture young entrepreneurial companies by providing tailored resources and services to help them survive and grow during the startup period. It also notes that incubators aim to create jobs, improve the entrepreneurial climate, and accelerate growth. However, incubators face financial sustainability issues and must consider revenue models like rental fees or capital gains to become self-sufficient over 5-10 years while avoiding mission drift. Both impact and sustainability are important for incubators to serve as examples to their clients.
China IPO CFO Report - July 2015 - FinalRachel Ouyang
The document analyzes the backgrounds of CFOs at 50 Chinese companies recently listed on the NYSE and NASDAQ. It finds that most CFOs are from Greater China and belong to a younger age group than CFOs of large multinational companies. Nearly half were appointed in 2014 alone, and appointments are expected to increase further with continued IPO activity. Most CFOs have international experience but also deep local Chinese market knowledge. Their average tenure is shorter than other CFOs due to high demand post-IPO. The analysis provides insights for companies on selecting CFOs with the right skills for different growth stages.
Over the course of 2017-2019, the Ye! Community undertook a series of activities in partnership with Mastercard
Foundation. This impact report details the project activities and its outcomes.
GT Events and Program Guide is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
This document discusses early stage funding sources for entrepreneurs, including personal funding through self-funding, moonlighting, or bootstrapping. It also covers angel financing, funding from friends and family, bank loans, programs from the Small Business Administration (SBA) like SBA loans and the SBIR program, small business investment companies, state development programs, and sources for finding investors like angel networks, venture capital firms, and investor directories. The most common sources of startup capital cited are personal savings, family, and bank loans.
The document summarizes a presentation about how nonprofits can generate revenue through social enterprises. It discusses identifying organizational assets that could be leveraged, turning those assets into business opportunities, screening opportunities, conducting feasibility assessments, creating business plans, and implementing successful social enterprises. Examples of social enterprises launched by nonprofits in North Texas are provided. The presentation encourages nonprofits to consider social enterprise as a way to diversify funding and generate sustainable revenue to support their missions.
This presentation is brought to you by Iowa Economic Development Area. It explains what TSC is, why it matters, and how you can acquire the certification.
2014 Annual Convention Presentation Alternative Financing Martín Klotzman
This document summarizes a presentation on alternative financing and the future of equipment finance. The presentation includes an overview of alternative finance, details on typical business models like reward-based, donation-based and lending-based models. It also includes deep dives on two alternative lenders, RapidAdvance and Funding Circle USA, covering their products, underwriting processes and growth. The presentation discusses trends in alternative financing like rapid growth and increasing competition. It also touches on regulatory challenges and opportunities for traditional finance companies.
This document discusses establishing an Agri Business Incubator (ABI) at IIAM. It outlines the goal of preparing a business plan to support the incubator. It then discusses defining the incubator's focus, location, organizational structure, services, funding sources, and revenue model. The next steps are to gather feedback, develop a draft business model, identify resources and funding, and draft a memorandum of agreement with ICRISAT to finalize the business plan for the ABI at IIAM.
Bangladesh is successful in garments sector primarily without policy support but government came with some policy support such as Bonded warehouse and Back to Back Letter of credit for import of raw materials from other countries. The growth of export of garment is allowing down as Bangladesh only produce low cost garment and "experts" suggesting entrepreneurs to go for high value garment without policy support. Bangladesh needs technology and development of own brands for overseas market.
Allan Viscardi has extensive experience as a CFO, COO, and financial consultant for various companies. He has led operational and financial improvements through strategic planning, process redesign, and systems implementation. Key skills include financial management, business development, risk management, and talent development. Viscardi has worked with companies in various industries such as healthcare, construction, and technology. His background includes positions at large companies like Citigroup and experience launching and advising smaller businesses.
ODA for Capacity Building in the Social Enterprise- and the SME-Sector in IndiaMartin Vogelsang PhD
Based on my long-standing experience as impact investor in India I would like to suggest that Official Development Assistance (ODA) coming into the country is disbursed more strongly towards capacity building (training, education) and supporting the incubation of viable social enterprises and inclusive businesses catering to the “Base-of-the-Pyramid”. Investing into this area of the Indian economy would not only help alleviate to poverty and at least partly solve some of the grave environmental problems the country is facing. Such an initiative could also help India’s corporate sector become more engaged in creating and scaling innovative solutions in the areas of technology or financial services that could open up new markets for them.
Alternative Finance for Small and Medium EnterprisesSME Finance Forum
This document discusses alternative financing options for small and medium enterprises (SMEs). It notes that 45-55% of SMEs have unmet financial needs and access to financing is a major constraint. High-growth SMEs are responsible for a disproportionate number of jobs but banks are not incentivized to support them due to risks. As such, innovative structures like private equity, supply chain finance, crowdfunding and moveable asset registries can help fill financing gaps for SMEs at different development stages. The SME Finance Forum promotes knowledge sharing on expanding access to finance for SMEs and women entrepreneurs globally.
GT Events and Program Guide is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
This document discusses different types of fruit preserves such as jam, jelly, and marmalades. It describes variations like chutney, which is a spicy Indian relish made from fruit, spices and herbs. Confit is also discussed, which preserves fruits or vegetables using honey or sugar until jam-like. Conserves are whole fruit jams made by stewing fruit in sugar. The document then explains the basic production process for making jam, which involves boiling mashed or chopped fruit with sugar and water until it reaches 104°C and sets upon cooling.
Our organization has over 6,700 members globally from 242 countries. Membership subscriptions range from £300 to £300,000 annually, with the basic welcome pack costing £20. Recruiters earn 10% commission on the subscriptions of members they recruit.
Jam:
• Jam is a solid gel made from the pulp of a single fruit or combination of fruits with a fruit content of at least 40% and a total sugar content of not less than 68% to prevent mould growth after opening the jar. In mixed fruit jams the first-named fruit should be at least 50% of the total fruit added.
Jelly:
• Jelly is a crystal-clear jam, made from filtered juice instead of fruit pulp.
Shelf-life: The principles of preservation are heating to destroy enzymes and micro-organisms, com- bined with high acidity and sugar content to prevent re-contamination. Jams and jellies can be kept for several months when stored in a cool dry place, away from direct sunlight.
Not only are jams, jellies and fruit preserves easy to make, but is often a favorite of summer.
With the end of summer nearing, farmer's markets and home gardens are now offering fruit and berries. And the season for summer fruits which can be deliciously preserved as jam or jelly. So now's a good time to review the basics of this quick and easy food preservation method.
Mitchell's is Pakistan's oldest food company established in 1933. It produces a variety of jam products with no artificial colors or flavors. The company has strong brand recognition in Pakistan and supplies major institutional clients. While Mitchell's has strengths in production facilities and quality standards, it faces weaknesses in limited promotions and packaging varieties. Opportunities exist in untapped markets and new product lines, but competition and aggressive rivals pose threats. The company employs various strategies around products, pricing, distribution and advertising to maintain market share.
Jam, jelly, and marmalade are prepared from fruits and vegetables. Jam is made by boiling fruit pulp with sugar until thick. Jelly is made from boiling fruit extract, sugar, and acid until set. Marmalade contains shreds of citrus peel suspended in a jam-like mixture. The document provides recipes and instructions for producing jam, jelly, and marmalade at home or commercially. Key steps include washing, peeling, boiling fruit with sugar and acid, and testing for proper thickness or set before filling into containers.
Kissan jam is a popular jam brand in India that was acquired by HUL in 1993. It has the largest market share for jam, ketchup, and squash products. Kissan targets upper and middle class individuals looking for a sweet breakfast option. Its marketing strategy involves television, print, and outdoor advertising as well as consumer and trade promotions. Kissan offers various jam flavors including pineapple, strawberry, mango, and apple. It aims promotional offers at kids to attract new customers. Though Kissan has a strong brand name and good distribution, its shelf life is limited and some consumers prefer healthier options like honey.
This document provides an overview of Hindustan Unilever Limited (HUL), a consumer goods company incorporated in 1933 with headquarters in Mumbai, India. It summarizes that HUL has over 16,000 employees, a turnover of 25,206 crores, and is part of the 51 billion euro Unilever Group. The document also outlines HUL's history, innovation initiatives, brand portfolio, and financial performance.
The document discusses enhancing access to finance for small and medium enterprises (SMEs) in the Middle East and North Africa region. It notes that there are 19-23 million SMEs in the region facing a financing gap of $210-240 billion. SME finance from banks is low, at around 8% on average. Serving SMEs can be profitable for banks, with returns on equity ranging from 20-40% for some best practice banks. The document outlines various challenges to SME financing and recommendations to address them, including strengthening legal frameworks, financial infrastructure, public support programs, and bank capacity building. The International Finance Corporation provides various advisory services and tools to support SME development.
SMECorp should open an international office in China to help Malaysian SMEs expand abroad. China is Malaysia's largest trading partner and importer of Halal products. The office should be located in Urumqi, capital of Xinjiang province, which has a large Muslim population and cultural similarities to Malaysia. A geocentric staffing approach will be used, hiring local Chinese employees alongside Malaysian staff with China experience. To succeed, SMECorp must build partnerships, understand Chinese business culture, and clarify expectations to navigate differences between the two countries. The office will help SMEs access the large Chinese market as they internationalize.
The document discusses a program called Preparing for Finance and Investment (PFI) that aims to help small and medium enterprises (SMEs) in West Africa attract investment. PFI provides SMEs with tools, knowledge and advice to improve their organizations and make them more appealing to investors. This includes diagnostics, scorecards, business resources and workshops. High scoring SMEs will gain access to investors through networking events. The program is run by GFA Consulting and Urban Inclusion, who have experience advising thousands of African SMEs and facilitating billions in deals. PFI aims to close the gap between investors and SMEs in Africa.
Tracy Nazzaro's presentation at the European American Business Club: SBDC is locally supported by the Nassau County Economic Development Board and provides potential and existing business owners with consulting and training for all aspects of business management and growth.
The document provides an overview of funding options for businesses from Development Financial Institutions (DFIs) in South Africa, with a focus on the National Empowerment Fund (NEF). It discusses the roles and mandates of various DFIs, the types of products and criteria for funding, and examples of businesses that received NEF funding. The key points made are that DFIs provide funding and support to promote strategic sectors and address market gaps, the NEF exclusively funds black empowered businesses, and examples show funding went to projects in various industries ranging from transportation to tourism to construction.
This document provides an overview of strategies and initiatives to improve SME finance. It discusses key observations on SME banking profitability and challenges in the sector. It then outlines IFC's approach to addressing these challenges through advisory services, partnerships, knowledge sharing initiatives like the SME Finance Forum, and investment projects. Case studies highlight projects in Honduras, Lebanon, and China that helped participating banks grow their SME lending and improve performance.
This handbook provides comprehensive information to equip entrepreneurs and MSMEs with information about sourcing various types of funding. It aims to help them gauge funding readiness, identify the right funding options for their business, and find the most appropriate funding solutions. The handbook is the first in a series that will cover funding from different sources. This volume focuses on funding from national development finance institutions in South Africa.
The document discusses establishing the Arab Small, Medium and Micro Enterprise Development Organization (ASMEDO) to support SMMEs across Arab countries. It recommends ASMEDO be headquartered in an active Arab state and represented in others. ASMEDO would enhance innovation, entrepreneurship, and technology adoption for SMMEs. It also suggests establishing an Observatory within ASMEDO to monitor and evaluate SMME performance across various metrics to advise on improving support programs. The document outlines several studies needed to determine ASMEDO's organizational structure and operations with estimated costs of $2.5 million.
Damien Blaauw is a Contact Centre Manager at Alexander Forbes in South Africa. He has over 15 years of experience in disability and death claims administration and assessment. He currently manages a contact center and is responsible for operations, budgeting, training, and ensuring service level standards are met. His career includes various managerial roles in claims administration, systems development, and project management. He holds a Bachelor's degree in Business Administration and has participated in executive education programs at Harvard.
Financial services for fund based credit facility in the from of cash creditPritesh Radadiya
Nikul Shah & Associates is a sole proprietorship firm established in 1997 that provides financial services and arranges loans from banks. It has 10 employees led by director Nikul Shah. The company aims to understand clients' financial needs and deliver customized solutions through a team of accounting, finance, legal and banking experts. It arranges various types of individual, business and project loans from nationalized, private banks and non-banking financial institutions. The company strives to maintain high integrity and focus on client needs through innovative financing solutions.
The role of strategic planning, accounting information and advisors in the gr...Chris Catto
Slides for paper delivered at the Asia Pacific Management Accounting Association Conference, Bali Indonesia 2015.
The paper explores the relationship between Strategic planning, accounting information and the role of advisors in the growth of small to medium enterprises SMEs
Pioneering Business Transformation - “Charting the Entrepreneurial Journey”
By Dato’ Hafsah Hashim
CEO of SME Corporation Malaysia
(Global Malaysian Network (GMN) Workshop
17th May 2014, San Jose, California)
Financial inclusion lessons from SASSA and Net1 Jessica Robey
This presentation delivered by Illana Melzer at the Foresight 2017 conference in May 2017 looks at the research we have conducted on this topic in a bit more detail and drives home some important messages for the financial services sector (both regulators and product providers)
Business plan-guidelines-for-south-african-businessesAbisha Kampira
A business plan must meet certain criteria to effectively guide a business and inform interested parties. It must be practical and doable given the business's internal and external factors. It should present solutions to key business questions like objectives, customers, competition, financing, and growth. The length and level of detail depends on factors like the investment value, intended audience, and novelty of the business idea. An effective business plan is based on thorough qualitative and quantitative research conducted at the national, industry, market, and internal company levels. It typically includes sections on the business overview, external analysis, marketing strategy, operations, and financial projections.
This presentation was delivered by Dr. Justin Ram, Director, Economics Department at a Seminar on Micro, Small and Medium Enterprise Development in the Caribbean: towards a New Frontier. The event took place on May 18, 2016 in Jamaica. For more information about the Caribbean Development Bank’s work, visit www.caribank.org.
The document summarizes a study on micro, small and medium enterprises (MSMEs) in 8 Caribbean countries. It finds significant challenges for MSMEs in accessing financing due to lack of capital sources. There are also substantial gaps in regulatory frameworks, as many countries lack MSME policies or have outdated ones. MSMEs receive inadequate technical support. It recommends improving access to financing through credit guarantee schemes and training. Countries should strengthen regulatory frameworks, entrepreneurship education, and business support organizations. Developing national innovation systems that support MSMEs and prioritize innovative service sectors could also help address weaknesses in regional innovation.
so much money so little time ...
nderstanding ESD Funders:
ESD funds are established by large corporations to support the growth and development of small and medium-sized enterprises (SMEs) within their supply chains or specific sectors.
These funds often provide financial assistance, mentorship, and other resources aimed at empowering these businesses and achieving broader socio-economic goals.
Finding Relevant ESD Funders:
Research relevant industry reports or publications: Look for reports or publications focusing on corporate social responsibility (CSR) initiatives in South Africa, which often mention ESD activities and potential funders.
Contact industry associations: Many industry associations maintain databases or resources listing relevant ESD programs and funders within their respective sectors.
Search online directories: Platforms like the "National Business Support Service (NBSS)" website list various business support resources, including some ESD programs: https://www.dsd.gov.za/.
Explore corporate websites: Many large corporations in South Africa have dedicated CSR or sustainability pages on their websites, often mentioning their ESD initiatives and potential funding opportunities.
Examples of Large Corporations with ESD Programs:
Massmart: Supplier Development Programme focuses on assisting black-owned and managed businesses within their supply chain.
Woolworths: Enterprise Supplier Development program supports emerging SMEs in their supply chain.
Investec: Nextwork Global Exposure program offers young entrepreneurs global exposure and mentorship.
Remember:
Eligibility criteria and focus areas can vary significantly between different ESD funders.
Carefully research each program to ensure it aligns with your business needs and target sector.
By utilizing these resources and conducting your own research, you can effectively identify and explore relevant Corporate ESD Funders in South Africa that might support your venture.
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OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
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[4:55 p.m.] Bryan Oates
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Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
2. CONTENTS Acronyms Background The Financial Sector Program Methodology GIS findings and maps Quantitative findings Qualitative findings Demographics Need and use of financial BDS Banking and financial services Legal and regulatory matters Knowledge and information management Analysis and conclusions Key Recommendations
4. BACKGROUND The Small Business Act (1996) and subsequent legislation gives recognition to the important role played by SMEs in the South African economy It is estimated that SMEs account for 41.7% of private sector employment in South Africa. Increasingly, government has looked to this sector (as opposed to micro enterprises) as the source of job creation in the country. In Gauteng alone there are about 1 053 818 small business owners However, as (very often) members of the second economy, the challenges faced by SMEs (both historically and currently) have to do with, for example, access to markets, finance, business opportunities or business support services Small businesses were ranked based on their level of business sophistication in Gauteng (BSM) in the 2006 FinScope study. SMEs mainly belong to BSM 6 and 7
5. BACKGROUND Small and Micro-Businesses by Sophistication Segment Source: FinScope, Small Business Survey Report Gauteng 2006 (Johannesburg: FinScope, 2006)
8. FINANCIAL SECTOR PROGRAM (FSP) The FSP is funded by USAID. The objective of the program is to: expand access to financial services and lower financing costs for small and medium enterprises (SMEs) through reforming the legal and regulatory framework affecting the financial sector and business environment and improving the commercial viability of lending to historically-disadvantaged SMEs in South Africa. The ultimate result is to mitigate market credit risk leading to increased SME access to a range of quality affordable financial services.
9. FSP Workstreams: Financial business development services Financial management, business planning, access to and use of support organisations Banking and financial services Financing from outside the business, use and constraints of loans. Legislative and regulatory matters Improve financial sector legal and institutional framework; enhance regulatory environment for SMEs Knowledge and information management Access to and sharing of information, knowledge of changes in business environment, use of ICT
10. RESEARCH BRIEF AND PURPOSE Quantitative analysis of SMEs in the BSM 6 & 7 FinScope small business survey of 2006 Qualitative research by way of focus groups among HDI business owners with a turnover of more than R200 000 The purpose of the above was to provide the most relevant information that will enable the FSP team to accurately design and implement their work plan and determine the targets of the Performance Management Plan
11. ASSUMPTIONS The BSM model provides the most realistic segmentation of small businesses Used adjusted Banking Association’s definition of SME Turnover of R500 000 to R20 million per annum Bottom threshold was decreased to R200 000 To include SMEs in transition to higher level Includes the highest concentration of HDI SMEs Expected that this group will need support the most Excludes micro enterprises
12. METHODOLOGY Analysis of the 2006 FinScope small business survey for BSM 6 and 7 Identify areas were BSM 6 & 7 are located Discussion guide Questions pertaining to each of the 4 workstreams Criteria for selection HDI business owner Annual turnover of more than R200 000 Recruitment of participants Recruiters in selected areas Recruitment questionnaire Conducted 11 focus groups across Gauteng
14. 2006 SMALL BUSINESS SURVEY About 1 053 818 small businesses in Gauteng 109 441 are HDI BSM 6 & 7 SMEs Awareness of support organisations is high 57% never used support organisations 42% need for capital most important problem faced 2% had a loan at the time of the survey
17. BSM Maps Created from the 2006 FinScope SME survey using small area estimation techniques Maps show percentage households falling into BSM 6 and 7 within an enumeration area Most of the focus group areas were selected using BSM 6 map where highest concentration of HDI small businesses are found More African and Coloured SMEs found in BSM 6 while Asian SMEs mainly found in BSM 7 BSM maps enabled focus group areas to be selected and provided epicentres for HDI small businesses to be found
18. Distribution of BSM 6 households Inset: Location of Gauteng province in South Africa
19. Distribution of BSM 7 households Inset: Location of Gauteng province in South Africa
20. SELECTED FOCUS GROUP AREAS Pretoria Pretoria CBD – African Eersterust – Coloured Mamelodi – African Soshanguve – African Laudium - Asian Johannesburg Eldoradopark - Coloured Florida - Coloured Lenasia - Asian Soweto – African Alexandra – African Tembisa - African
21. Focus Group Area Maps Focus group area maps show selected enumeration areas from BSM 6 and 7 maps in Google Earth Examination of focus group area maps show that selected enumeration areas are generally located near the commercial and industrial centres Asian and Coloured focus group areas tend to be larger in extent than African areas African focus group areas differ from one another depending on levels of urbanization and formal settlement African focus group areas tend to have several separate areas where SMEs are concentrated
40. Financial Business Development Services By Financial Business Development Services (BDS) we mean a range of services that are intended to develop/improve business performance. These services are provided by government agencies, private sector and NGOs. Financial BDS focuses on: Financial management, which includes budgeting, costing / pricing, cash flow management, records keeping, book keeping, preparing and analysing financial statements, auditing and tax submissions Provision of consulting and advisory services, training and mentoring Key issues relating to financial BDS that need to be assessed include access to information and financial ‘intelligence’; and proximity/accessibility, affordability and relevance of services
49. NEFAware through advertising, offices nearby, forums and consultants Mostly approached for loan but not successful SETA approached for training and professional advice Others approached for business and marketing plans, support in running businesses, training and education
50.
51. SMEs have closed down because of a lack of supportSupport from BDS institutions must be systematic and over a period of time BDS providers not keeping pace with needs and expectations of SMEs Unrealistic expectation of BDS for SMEs to develop ‘big’ and ‘beautiful’ business plans
58. Securing and maintaining clientsNeed for bookkeeping services to assist with VAT, PAYE, SDL, UIF, etc Affordability of bookkeeping services identified as a concern
59. Need for Business Plans SMEs understand the value of business plans Need for business plans is increasing because they are needed to access finances, support services and to tender for work One SME indicated that the business plan was needed to grow the business and keep it sustainable into the future Advice on developing business plans from business associates, financial advisors, advocates, family and friends Some SMEs use professionals to develop business plans but some question the ability of SMEs to operationalize these Many SMEs don’t develop business plans because they are ‘too busy’.
60. Need for Marketing Plans SMEs see marketing plans as important in reaching potential customers Marketing plans must be ‘workable’ considering limited turnover of SMEs (ie use appropriate marketing tools – pamphlets, wall signage, etc) Location of SMEs in relation to their customers was seen as critical All focus groups indicated need for training in developing business and marketing plans
75. day-today business managementSector specific mentoring required Location & quality of support to be improved through training of BDS staff Research into BDS provided in public and private sectors to determine what they offer, effectiveness of services and medium used to communicate with SME
77. Banking and Financial Services Banking and financial services covers the areas of: Existing use of finances from formal and informal institutions and under what conditions Suitability of financing from an amount and repayment perspective Need for financing Past experience in applying for financing and reasons for being declined Reasons for not applying for financing
81. Find bigger and better premises“Yes, we are always short of cash flow. The more money you have the more stock you can buy. In a business you can never have enough money” (Laudium businessman)
93. Feel intimidated by financial institutions “They [financial institutions] have a fear when you dressed like that [in a suit and tie with a briefcase]” (Tembisa businessman)
94. Further obstacles to accessing finance Banks only allow savings accounts to start up businesses that don't provide statements High interest rates Institutions only fund large projects and in specific sectors “With Umsombovu you have to understand that they are interested in big projects, like manufacturing. They will send you to Gauteng Shared Services, the DTI, or Gauteng Growth something. They’ll tell you that those people will be able to help you with those small funds, but they are not interested in those projects.” (Alexandra businessman)
95. Obstacles to accessing government finance “ .. I am aware of all of those, I am in business for a long time now, I went to KHULA and they told me that they will provide a loan, but they want security. It is a long process. When you go to them they will assist you and then they send you there and then they decide if your business is worth it, it is a waste of time. Maybe it is where we come from and we are used to struggling to make ends meet and then maybe in the end we will grow.” “What happens here is that they all have different names, they but they all want the same. If you have a bad experience with one of them, you look at them as just another one.” “Umsombovu, yes, but it’s not more of a financial assistance if you are in services. They are also not interested in something less than R60 000. If you come up with a need for a small amount like R45 000 they say go to a financial institution. You must remember they are a bank themselves and need to make a profit. Even Khula is also not funding on a small scale”.
105. Opinions on financial institutions Banking is only for the good times “....for a long time my account was okay and then I ran out of money, so I went to the bank to ask them for money and they said no”. Banks are perceived to be a good place to get finance “We normally approach the bank because it is the trustworthy party.” (Soshanguve business women) Banks don't consider SMEs important “I suppose I am a small thing” (Lenasia business man)
106. Opinions on financial institutions Banks don't provide the full loan amount required by SMEs “Yes I had an account, I still remember I borrowed only five thousand Rand; they didn’t give me more and couldn’t cover everything.” (Soshanguve business women) Banks don't reject loan applications because of race/cultural considerations but because of ineffective communication on their side “I don’t think it is based on colour, it is based on risk but they don’t go to the level where they explain to you what makes you a high risk.” (Eersterust businessman)
107. Deficiencies in SMEs Lack of financial education and literacy Lack of business training Highly competitive and undiversified markets Lack of record keeping and proper documents (eg company documents, tax clearance, UIF, etc) Inability to present formal business plans Poor credit ratings Lack of collateral/security for loans Limited capital bases and ability to grow capital Misconceptions about the risk analysis process
108. Deficiencies in financial institutions Rigid credit scoring policies Rigid collateral requirements Reluctance to provide small loans Rigid repayment schedules Support organisations acting like banks Lack of understanding of cultural differences Poor report-back to applicants on loan refusals Poor communication of services offered Lack of differentiation of product and approach offered to clients Restrictions placed on lending via the National Credit Act - additional documentation, calculations and checks
109. Recommendations Investigate possibility of informal lenders being part of credit scoring system in future Develop clear step-by-step guidelines on what is needed to secure funding from institutions Provide guidelines to staff in financial institutions and government organizations on communication standards To address deficiencies on the supply and demand side as regards access to finance
110. Recommendations Develop equity accumulation programs – subsidized share schemes – include in Financial Sector Charter requirements Government funded equity/asset base creation program – fund fixed assets development for SME's (start-up capital) Re-design collateral scoring techniques – consider "non-western" collateral Provide tax incentives on mentoring programs from bigger business Relaxation on re-payment "holidays", interest rate capping, extended re-payment periods Extensive financial literacy training programs Easy/cost free access to firm's credit rating information Develop the third tier banking system granting smaller loans with short repayment periods – create Micro Banking/Divisions Encourage formal banks to finance third tier banking More flexible interpretation of National Credit Act for categories of small business Change mindsets of the formal banking institutions vis-a-vie small business
111. Recommendations Fund technology drive in small business Develop creative funding approaches learned from informal/NGO schemes: Repayment in public Notional collateral Targeting women's groups Develop market access programs Encourage segmentation of Donor/Support Agencies against specifically targeted SME segments – using the BSM Simplify the "business plan" requirements process Expand geo-graphic coverage of Micro Bank/Division coverage from formal banks Subsidised/lower interest for start-up capital/technology purchases for small business Better training of bank staff to understand small business needs Government capital injection incentive program for small business - -for every compliance registered get 10 points – 100 points equals computer
113. Legal and regulatory matters Legal requirements and compliance knowledge of benefits and liabilities associated with different types of companies; knowledge of regulatory requirements; need of legal/regulatory training. Relationships with public institutions At the national, provincial and municipal levels Knowledge of BEE legislation Awareness of business opportunities and benefits associated to BEE legislation. Need for training Association membership and Advocacy Capacity of associations to help and defend members
114.
115. Get access to VAT number and Tax Clearance certificate
118. Few knew that it reduces risks and liabilities of SMESMEs started business because wanted to own their own business Advice received from business associates, family and accountants in selecting legal vehicle
119.
120. Limited knowledge of registration process – registration process is not complicated or expensive
122. Did not see the benefits of registeringMost participants did not understand the benefits associated with the different types of companies
123. Legal requirements and compliance Most SMEs try to respect their obligations towards SARS, but were not aware of the new VAT threshold in 2009 SMEs knew to register their employees for UIF SMEs more likely to comply in paying income tax and PAYE Reasons for non-compliance was indicated to be a lack of knowledge
133. Providing access to relevant information in local languages“Most important thing is that they must make information more easily accessible in all the languages; some off us has difficulty in finding the right information”
134. Knowledge of BEE legislation SMEs generally don’t know the BEE legislation - they think it is biased and reserved for big companies SMEs were not aware that they had to register to be BEE “Yes, I haven’t register for it, I thought being black you are automatically registered as BEE” Almost all SME were not registered as a BEE company and most of them did not know how to do it. SMEs don’t see how they can benefit from the BEE legislation.
135.
136. BEE is a mechanism whites use to get government businessSMEs indicated they needed more information and training on the benefits of BEE Some SMEs felt that BEE only benefitted Africans “BEE is a waste of time for us, for me, myself because first of all it hasn’t been marketed properly. We - I’m talking as a young Indian businessman – we haven’t been educated as to what resources we can get w.r.t. BEE. I think to be quite frank it is only beneficial to the Black man in the country. In the old government I wasn’t white enough, now I am not Black enough. That’s my view.” SMEs felt that they were overlooked because they were located in townships and were too small
137. Association membership or professional association Limited membership of professional associations with no advocacy role Women, colored and Asian seem more likely to participate in business forums and associations “I think communication is a problem, especially in the taxi industry. The only time we communicate with them is when we strike.” “On the issue of communication between the community and the government, the communication does reach us, and it goes back to them. The problem is that there is a messenger in-between, so there is a break-down, so it’s not sufficient.”
138.
139. Training on BEE legislation and business opportunities created by BEE legislation
140. More support of public institutions in their neighbourhood.
141.
142. Knowledge and information management Knowledge and information management focuses on: Mechanisms of sharing knowledge and experiences between organizations Support being provided by government and other organizations Needs, capacities and challenges in sharing knowledge and learning Best practices being used amongst SMEs in sharing knowledge and learning BEE businesses and influences from a cultural, identity and learning perspective ICT support for SMEs
159. E-mail clients and suppliersPublic institutions where SMEs can access ICT facilities free of charge
160. Culture, identity and religious influences Soshanguve women said: “We never come across it at all” Women in central Pretoria said: “but with identity you are more likely to get a bank loan if you are white than you are black” Knowing someone in a financial institution is seen as a way to get assistance “....through knowing the people at the bank we were able to open a bank account.” An Asian man said: “We need advice on how to grow as a business and how to become a BEE? We don’t know the procedures. How do we qualify, first we are not white enough now we are not black enough”
161.
162. Not many use it for financial management purposes
163. More advanced uses are for bookkeeping, income and expenditure, tracking profits, monitoring sales and stock takingE-mail is used to communicate with clients and suppliers Web is used to access information and place orders with clients Internet and phones can be used to hold teleconferences
164.
165. Have invited guests with people phoning in to ask questionsSimilar programmes can be presented on TV
171. Analysis and conclusion SMES generally have personal or business bank account Many obstacles to SMEs getting finance but there is a distinct need SMEs are not well positioned to access financing from institutions – deficiencies in supply and demand Consequently, SMEs are getting finance from other informal sources Many recommended opportunities for intervention – most of all FSP workstreams
172. Analysis and conclusion Sharing of knowledge and learning not happening amongst SMEs Mechanisms for improving knowledge and learning clearly articulated Government has a distinct role to play in providing information, training, databases, monitoring, facilitating access to finances and communication Needs of SMEs in the knowledge and learning arena clearly articulated ICTs being used but there is a need for more use and training Key recommendations made with the development of a knowledge portal being at the forefront
173. Analysis and conclusion Although SMEs are formally registered – great need for training and education in benefits and mechanisms of establishing legal vehicles Generally there is good compliance amongst SMEs in registering with the various regulatory bodies, especially SARS Public institutions are not assisting SMES as much as they should - facilitate access to loans, training and education and to relevant information SMEs simply don’t know enough about BEE, its legislation and its potential benefits More developed SMEs part of professional associations but not bodies that act in an advocacy role Many opportunities for input by FSP but especially in conduct research into making SME associations and forums more effective