Most thriving businesses are businesses that possess a healthy customer base. If your business must be better, then your customer base must be healthy. There is an intrinsic relationship between how you treat your customers and the future of your business. There are distinct opinions to the most crucial factor in a business. However, maintaining […]
Equity financing and debt financing are the two major options for start-ups seeking funding. Debt financing basically involves taking out a loan either from the bank or a private investor, who could be your friend, family, or a stranger. While equity financing, also involves you taking out a kind of loan as indeed you still […]
Have you got a business idea that you think it’s the next big thing? Or an idea you think will impress everyone else and leave them wondering why they never thought of it. Maybe an idea you believe would positively solve a particular problem. Coming up with new ideas can be exciting. However, starting a […]
So many people have the question, “what is a trade name,” on their minds. Being an SME in Africa means you have a name(s) everyone who’s familiar with your business recognises. These means of identification can range from a business name to a trade name or even a trademark. The terms ‘Trade name’ and ‘Trademark’ […]
As a small business owner, you may have this question in mind. “Why should I get a business website when I have an Instagram page?” Some SMEs in Africa have attained commendable success with their social media pages alone, and most of them get comfortable with not having a website. The truth is, there is […]
SMEs are defined differently across Africa based on the number of employees, assets owned by the company, annual sales, etc. But if you are aiming to build a business that has fewer than 250 employees and its capital and voting rights (25% or more) are not owned by one enterprise or jointly by several enterprises, […]
Ever heard about an “entrepreneur community?” Business owners can get business inspiration through several means and from various places. The right business inspiration can be the game changer that your business needed all along. Hence, as an owner of an SME in Africa, it is crucial to take advantage of all the avenues where you […]
We cannot discuss the idea of business without mentioning “competition.” Imagine an outdoor market in a developing country (a busy, bustling, lively, and noisy place). Customers move from one vendor to another, checking the price and quality of goods, haggling trying to get their money’s worth. Sellers trying their best to portray their goods in […]
Electronic commerce or ecommerce is a business model that lets firms and individuals buy and sell things over the internet. It is buying and selling products or services, making money transfers, and transferring data over an electronic medium that allows people to do business without the constraint of distance and time. Last year, as stay […]
Understanding credit obligations is key to attracting financial support. Getting financial support through loans is perfectly normal for SMEs. While there is absolutely nothing wrong in taking loans to support business financing, paying these loans back as at when due can make all the difference between the loans working for you and you getting into […]
