Agriculture is a capital intensive industry with a national agriculture debt in access of R 160 million, the reduction of the interest rate by 25 basis points is therefore a welcome relief to farmers and producers who are still recovering from the aftermath of the drought of two years ago. During a drought, producers have less or nothing to take to the market and derive some income from, however, they still have to carry the cost of holding farm assets and are thus unable to meet their debt … [Read more...] about Rate cut offers welcome relief
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An alternative way to ‘finance’ property
Islamic banking offers an alternative to a business or individual looking to buy property, and it is open to anyone to make use of. “Property finance, in the traditional sense, is essentially the granting of a loan to a client for the purchase of a property. This loan needs to be paid back with interest over the term of the loan arrangement. The difference with Islamic property finance is that it is based on a concept called Diminishing Musharaka,” says Amman Muhammad, CEO of FNB Islamic … [Read more...] about An alternative way to ‘finance’ property
5 Points to consider when planning for retirement
We will all reach a stage where we will have to retire from our jobs. When this day eventually comes, we need to ensure that we are in a space to retire comfortably. Preenay Sathu, Head of Financial Advisory at FNB says, “We encourage consumers to start saving for retirement as soon as they start earning income. Long term thinking is encouraged when looking at retirement planning and the benefits thereof.” Sathu unpacks factors to consider when planning for retirement: Age: While the … [Read more...] about 5 Points to consider when planning for retirement
Financial resolutions to live by
We often left feeling overwhelmed and guilty from the excessive spending and increased expense after the holiday season. As much as we plan our budgets for the year or any event for that matter; we often don’t stick to them. Ester Ochse, Product Specialist – FNB Financial Advisory explains that, “We tend to overburden ourselves over the holiday season with unexpected expenses like gifts, holidays or entertainment. Our budget gets consumed quite quickly and without us noticing at all.” With … [Read more...] about Financial resolutions to live by
What SME’s need to be thinking about in 2018
In 2018, small-to-medium-sized enterprises (SME’s) will be looking for a glimpse of inspiration to chart a new growth path and scale their businesses. This is off the back of a tough 2017 and previous years which have inhibited the growth of local SMEs. Jesse Weinberg, Head of the SME Customer Segment at FNB Business says “Small business success becomes a monumental task when there’s arguably very little to no real economic growth overall. However every challenge presents an opportunity, and … [Read more...] about What SME’s need to be thinking about in 2018
Franchising – The year that was
2017 has been a year fraught with challenges for both consumers and business alike. South Africa has however remained an eye-catching destination for international brands looking to expand their businesses; none show this more than franchising in South Africa. Morne Cronje, Head of Franchising at FNB Business agrees that even in what is said to be tough year, South Africa has managed to attract global franchise brands. “A recent example of a global franchise brand coming into South Africa … [Read more...] about Franchising – The year that was
Location, Location, Location and Location
Many first time buyers who are excited about owning property often underestimate the importance of a good location, until area or neighbourhood challenges pressurise them to relocate. Calvin Ndlovu, Head of Operations at FNB Home Loans, says before signing on the dotted line, take time to research the neighbourhood and make an informed decision based on your individual circumstances. He advises potential buyers on what to lookout for when researching a neighbourhood: Engage home … [Read more...] about Location, Location, Location and Location
10 Tips For Festive Season Shopping on a Budget
The festive season is here! While we planned and ensured that we have the perfect gift for our loved ones; we are sometimes left with those unwanted last minute shopping trips to the mall. “Budgeting for the festive season and any other special life event should be a key strategy from the beginning of the year, not just NOW. Retail therapy is sometimes great, but can be stressful as well. However, if managed correctly and within a budget – it can be a fun-filled activity,” says Ester Ochse, … [Read more...] about 10 Tips For Festive Season Shopping on a Budget
How to protect yourself from ATM scammers
By practicing a fair amount of vigilance, ATM users can avoid falling victim to scammers looking to swindle them of their hard-earned cash. Lee-Anne van Zyl, CEO of FNB Points of Presence, says, “As the festive season nears, we would like to urge ATM users to practice extra caution when using ATMs. Scammers are constantly looking for ways to defraud unsuspecting customers. However, there are important safety precautions that if followed, can lessen the chance of being a victim.” Tips for … [Read more...] about How to protect yourself from ATM scammers
Key traits of a successful franchise
South Africa’s exponential franchises took centre stage at the 6th edition of the annual FNB Franchising Leadership Summit held recently at Indaba Hotel in Fourways, Johannesburg. Themed “exponential growth”, the Summit coincides with the world-wide commemoration of Global Entrepreneurship Week (GEW), which celebrates the remarkable contribution of entrepreneurs to the global economy. The 2017 Summit focused on unpacking four perspectives of exponential growth, namely: entrepreneurship, … [Read more...] about Key traits of a successful franchise
There is no such thing as a part time entrepreneur
13 November 2017 - There are no rules in entrepreneurship. People often wax lyrical around following certain formulae for success and globally, millions of books are sold on the promise of riches. Sure, we can all learn from others, and it is true that successful entrepreneurs are open to learning, but there is no magic formula here. Having said that, as we kick off Global Entrepreneurship Week, I thought I would share some behaviors we at FNB Business have observed in successful … [Read more...] about There is no such thing as a part time entrepreneur
Step-by-step guide to saving for your children’s education
2018 is around the corner and while we planning for the summer holidays, we should devote some time to ensuring that we manage our expenses in the New Year. Education has become a costly affair and requires much thought and consideration. “Besides the normal school fees, parents need to fork out extra on uniforms, stationery, extracurricular activities, excursions; to mention a few. This sometimes puts strain on parents’ pockets; especially if these unforeseen expenses are not planned for,” … [Read more...] about Step-by-step guide to saving for your children’s education
Spotlight Falls on BIA’s
SA’s entrepreneurs will once again be under the spotlight after FNB announced the official opening of entries for the coveted FNB Business Innovation Awards (BIA) supported by Endeavor South Africa (EndeavorSA). The 4th instalment of the BIAs will take place in 2018 and businesses that can exhibit innovation and highest potential to scale are invited to submit entries. The businesses must be founder-led, demonstrate potential for high-growth and have the ability to add substantial economic … [Read more...] about Spotlight Falls on BIA’s
Tips for Safe Online Credit Card Shopping
If you are amongst many customers who are taking advantage of the ease and convenience of shopping online with their credit cards, it is important to empower yourself with a few tips to keep your card details safe whenever you shop online. Chris Labuschagne, CEO of Credit Card at FNB says, “Online shopping continues to be a growing trend in South Africa. More and more consumers regularly buy everything from basic household necessities to clothing, gifts and gadgets at the click of a button. … [Read more...] about Tips for Safe Online Credit Card Shopping
Technology’s Effect on Tourism Business
Today, any consumer with a smart device can effectively book and pay for a holiday from anywhere on earth. Technology has eradicated borders and tedious admin in the tourism space, in doing so, businesses have had to continuously adjust to the ongoing advances that have a direct impact on both their profitability and visibility in the market place. Charnel Kara, Tourism Specialist at FNB Business takes a look at some technological advancement that continues to advance/ disturb the tourism … [Read more...] about Technology’s Effect on Tourism Business
