Introducing a new product to the market is never an easy task. It takes a lot of strategising and planning. Even at that, about 80 percent of new products still fail. This statistic must be scary and worrying especially if you are just thinking of new product development. So many factors contribute to the success […]
Every business owner must display certain financial habits for their business to succeed. Leaders have key characteristics that set them apart from other people. In the same vein, successful entrepreneurs tend to have a lot of similarities, and these features are many times, which make them successful in the first place. As an SME founder, […]
Most business owners do not consider emergency funds to be important. Research has shown that 20% of small business owners believe that their number one challenge in the start-up world is the lack of adequate amount of cash to keep things going. These monetary issues could be tied to limited sales, piling debts, mismanagement of […]
Business ratios help to measure business performance. Performance assessment is a huge part of growing a business. Periodically, it is important to assess how far the business is growing or otherwise, particularly in relation to the benchmarks you set or as compared with previous reports. One way to easily assess comparative growth on a company’s […]
It is important for every business to be socially responsible. At the core of every business, survival is the need to make profit. However, profit-making is more achievable when the business centres around creating lasting impacts on society. Society is made up of people, a pool of existing and potential customers for businesses. We all […]
Performance assessment is a huge part of growing a business. Periodically, it is important to assess how far the business is growing or otherwise, particularly in relation to the benchmarks you set or as compared with previous reports. One way to easily assess comparative growth on a company’s financial performance is through ratio analysis. It […]
Today, a lot of successful businesses are being run by women. We are witnessing more women rise to take their place in sectors that men had initially dominated. Women are becoming more aware that they also can transform businesses as men could. Hence, indicating that women have the same magic fingers as men. As a […]
Being an SME in Africa requires unique and effective marketing ideas to keep things going. Marketing is an integral part of generating leads for your business and establishing your brand. You have to research your target customers and make use of the perfect sales channel, e.t.c. to ensure the business is up and running. The […]
Raising capital is key to starting, running, and scaling your business. Most businesses fail in their first year simply because they aren’t able to raise sufficient capital. When a business has sufficient capital, it can grow into a giant in the industry. It is no secret that raising capital is not so easy, especially for […]
It is becoming more apparent how important social media is to small businesses looking to expand beyond their current reach or want to get noticed. According to a survey, over 70 small business owners use social media to double their marketing efforts. More than three billion people actively use social media, which means approximately 40% […]
