Massmart and Absa have partnered to assist a black-owned milling company to expand its operations and create 40 permanent jobs. Lethabo Milling, a participant in the Massmart Supplier Development Programme, acquired a mill in Ventersburg, Free State, and will receive an order from Massmart to produce 10 000 tons of Massmart’s house brand Econo Super […]
Massmart and Absa join forces to support black entrepreneurs Read More »
There could be hope on the horizon for entrepreneurs with the recent introduction of the Small Business Development Ministry – IF the Ministry addresses recurring challenges that entrepreneurs face in the business landscape, says Eleanor Scott, Executive Mentor at enterprise development organisation The Hope Factory. Of significance to entrepreneurs is the issueof late payment,
Will an SMME Ministry spell the end of late payments? Read More »
While “entrepreneurship” is often assumed to be directly related to “passion”, this is not necessarily the case. With an increasing number of individuals choosing to step into the entrepreneurial space as a means of financial survival, buyers need to have clarity about the driving force behind their SME suppliers. If it’s all just about
Is your small supplier an entrepreneur or an opportunist? Read More »
Most inexperienced, small suppliers are so eager to supply that they hardly pay attention to the words ‘payment terms’. Yet the timing between cash outflows (as a business extends its service or sells a product) and inflows (as it receives payment for the said service or product) is the single most important factor in
Supplier cash flow vs Corporate promises Read More »
One of the largest obstacles preventing supplier growth, especially for SMMEs, is the lack of funding from traditional sources. With restrictions to finance, suppliers may be forced to pay high interest rates with local money lenders or approach banks to discount invoices. However, a financing alternative lies in a multi-bank supply chain finance platform,
Buyers, use your credit worthiness to support your SMMEs Read More »
For a ‘small’ supplier, risk could prove to be a catalyst towards unlocking ‘big’ business prospects. Having a healthy respect for the value that risk can add to your organisation will undoubtedly change how you approach it, prepare for it and deal with it. By putting the necessary controls, checks and balances in place
Risk: small supplier business threat or value-adding opportunity? Read More »
One of the biggest challenges supplier company executives face today is efficiently managing working capital. Growing suppliers consume large amounts of working capital in the form of inventory and trade receivables, which puts strain on ready-money resources. This could have a negative effect on production, order fulfilment and ultimately the relationships between procurement professionals
Financial innovation for supply chains Read More »
Three periods in South Africa’s history have applied policies making entrepreneurship a last resort for many would-be entrepreneurs. During these periods the country has offered selective groups less-risky alternatives to becoming entrepreneurs effectively disincentivising entrepreneurship in the country, says Allon Raiz, CEO of enterprise development organisation Raizcorp. “South Africa’s political history meant that pre-1948,
SA’s economic empowerment history offered easier routes than entrepreneurship Read More »
Hope Factory business mentor Busi Raphekwane shares some crucial guidelines for SMMEs interacting with procurement, in this month’s SmartProcurement. This is pertinent information for procurement and supply chain functions to share with their SMME suppliers. As an SMME interacting with procurement departments, there are certain expectations that need to be met. The key is
How should SMMEs operate with mature procurement functions? Read More »
While mobile devices have revolutionised how we engage with each other and the rest of the world, they have also arguably affected our ability to literally “switch off” and think. Because critical thinking and analysis are vital for business innovation and growth, entrepreneurs need to find a means of creating appropriate time and space
Thinking time for SMMEs: a catalyst for implementation Read More »
