Small businesses need to adhere

2015-11-26 06:00
 Nedbank’s Micheal Mtiwetafa gave advised the entrepreneurs on marketing.   PHOTO: Mawande Sobethwa

Nedbank’s Micheal Mtiwetafa gave advised the entrepreneurs on marketing. PHOTO: Mawande Sobethwa

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The sooner small businesses comply with government regulations, manage their finances and conduct proper bookkeeping, the better their chances of survival.

This was the message at the first Acts Business Institute workshop hosted in Khayelitsha with the focus on assisting entrepreneurs manage their books.

ABI is a non-profit company established earlier this year to assist SMME’s and professionals with business support and bridging the gap between small businesses and big corporate.

Last Saturday at the Lookout Hill, ABI partnered with Nedbank to help this flourishing businesses sector get their books in order.

Aubrey Mcetywa, ABI CEO said: “Research tells us that initially, business owners don’t pay attention to financial management, bookkeeping and compliance; We also believe if we want to build businesses for the next generation, these areas should be attended to and addressed urgently,”.

He said that this was the first edition of these empowerment workshops with the bank ‘to attend and address these issues immediately’.

“That if these interventions are not done now, it will be too late for some businesses to be rescued, for this reason we invited these business owners to attend the workshop,” he said.

The first edition of the workshop was hosted in three venues at the Nedbank head office in Cape Town, Mbekweni in Paarl and Khayelitsha on three different dates.

In Khayelitsha Nedbank’s Michael Mtiwetafa gave the attendants a few tips that included the emphasis on marketing.

“Make use of networks events and occasions as you won’t know that the next person could be a clients.

The more you tak about your business the more chances that a encounter may lead to a sales lead,” he said.

He engaged the attendants on the importance of public events as a great place to advertise your business.

“If you go to a community race, sporting event or public gathering wear a t-shirt with your company branding so that everyone can see it,” he said.

Mcetywa invited local entrepreneurs to sign up for membership in the organisation as they planned to have other events lined up and also offer ongoing assistance to SMME’s. You can contact Mcetywa on 0218630923 or 071 130 8658.

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