Financial know-how core in biz

2018-09-27 06:01
Old Mutual Executive Sales Manager in Claremont, Austin Ventura encouraged young businesses to do financial planning. PHOTO: UNATHI OBOSE

Old Mutual Executive Sales Manager in Claremont, Austin Ventura encouraged young businesses to do financial planning. PHOTO: UNATHI OBOSE

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In an effort to unite and empower emerging business concerns on sustainability, the Langa Tourism Forum recently organised an awareness day to educate owners on the challenges in the industry.

The event was held at Guga s’thebe Centre last Friday.

Among the companies involved were Old Mutual, Cape Town Tourism, Absa bank, Ezasekasi, Azzap, the City of Cape Town, the Department of Tourism, Vodacom and Edgepoint Consulting.

Event organiser Songi Masoka described Langa as an economic hub.

“We invited all people in the tourism industry in the area to come on board to form a united structure where we can speak in one voice. We want to desist working as individuals,” said Masoka.

She said the forum was formed in 2016 but registered this year in June.

“We invited BnB owners, caterers, transport operators, guest houses runners, people intending to start a business in the tourism industry but don’t know where to start and also those who already have their businesses, but are not yet registered,” she said Masoka added that those who need help are referring to relevant sources of funding.

She said the objective was to transform Langa into becoming a tourist destination.

“We have international icons like Sylvia Mdunyelwa, Thabo Mngomeni, Dizu Platjies and the late Brenda Fassie ... They are all from Langa,” she stated.

Unathi Dyira, of Unathi’s Kitchen, described the event as informative.

“They taught us how to manage funds and sustain our businesses. We learnt that we must not use business money for our personal issues no matter how the circumstances are,” said Dyira, adding that they were also advised to make a reasonable quotation whenever they charged clients.

“We were also advised to avoid being compromised and do favours when doing business with friends and relatives.

Because sometimes we are just doing business without realising that we are no longer making any reasonable profits,” she offered.

Austin Ventura, Old Mutual’s executive sales manager based in Claremont, encouraged the business owners to embark on financial planning before venturing out in the industry.

“Separate business money from your own finances and avoid spending money made from business as if it were personal.” I encourage to work as partners instead of working as individuals,” he said.

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