SMEs working in the dark
SMEs working in the dark
Confronted with a GDP growth rate that just will not budge over 5%, South Africa has, together with the rest of Africa, reached out for the golden fleece called the SME.
However, while there are no specific interventions aimed at growing the existing SME's, the existing businesses are still able to thrive simply because the economy is still doing reasonably well at 5% growth rate.
But these unassisted SME's, together with those government is trying help, all have the same problem to contend with. A complete and utter lack of formal market information. At a recent high level function with the Department of Trade & Industries, they handed out booklets on a variety of economic topics. The biggest and most impressive full colour book, was 3 YEARS OLD.
This speaks to the problem in a clear voice. Overtrading is a major problem in South Africa, simply because there is no information to guide or inform wannabe SME's. This is a disgrace considering that we have such an advanced and informed constitution, and yet the departments themselves do not share valuable information with the country's business people!!! Why not? Do they not have it?
Until such time as our businesses, particularly the SME's who cannot afford to do their own research, get access to useful and timeous market related information and research, we will never become a great nation of entrepreneurs and SME owners.
Rob Smorfitt
SMEs working in the dark - To learn more about this author, visit Dr. Rob Smorfitt's Website.
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South Africa is ahead of many other African countries in many contexts, but itself remains riddled with issues.
Confronted with a GDP growth rate that just will not budge over 5%, South Africa has, together with the rest of Africa, reached out for the golden fleece called the SME.
However, while there are no specific interventions aimed at growing the existing SME's, the existing businesses are still able to thrive simply because the economy is still doing reasonably well at 5% growth rate.
But these unassisted SME's, together with those government is trying help, all have the same problem to contend with. A complete and utter lack of formal market information. At a recent high level function with the Department of Trade & Industries, they handed out booklets on a variety of economic topics. The biggest and most impressive full colour book, was 3 YEARS OLD.
This speaks to the problem in a clear voice. Overtrading is a major problem in South Africa, simply because there is no information to guide or inform wannabe SME's. This is a disgrace considering that we have such an advanced and informed constitution, and yet the departments themselves do not share valuable information with the country's business people!!! Why not? Do they not have it?
Until such time as our businesses, particularly the SME's who cannot afford to do their own research, get access to useful and timeous market related information and research, we will never become a great nation of entrepreneurs and SME owners.
Rob Smorfitt
SMEs working in the dark - To learn more about this author, visit Dr. Rob Smorfitt's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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