In line with its broader strategy of support for South African SMEs, FNB recently distributed over R17 million in grant funding to black-owned businesses that could potentially have a significant impact in addressing pressing social challenges. This is part of a two-pronged pilot initiative to support early stage social enterprises, focusing on education, to catalyse the development of ideas. Moreover, to support small-scale farmers to catalyse access to ownership of land and assets, to … [Read more...] about R17 million in SME grants to tackle social challenges
heather lowe
Recession proof your business
We are in an economic downturn and managing a business through an economic recession may be the toughest challenge an entrepreneur is ever faced with; however, if you do not fall prey to panic, a downturn also presents an opportunity to the business to confront its ineffective areas and remedy them. “Businesses should be able to do more than simply accept stagnating levels of growth, or even decline. In fact some businesses grow at surprising rates during economic recession. If there was ever … [Read more...] about Recession proof your business
SMEs hold the key to improve economic growth and job creation in South Africa
Despite the tough economic conditions that businesses are facing there are some high growth potential SMEs who are looking to grow their profit margins and reach a new level of growth. High growth potential SMEs hold the key to improve economic growth and job creation in South Africa. Heather Lowe, Head of Enterprise and Supplier Development at FNB Business says, overcoming start-up challenges such as having the right business model, effective processes and systems, efficient sales methods … [Read more...] about SMEs hold the key to improve economic growth and job creation in South Africa
4 Mistakes to avoid when scaling up a business
Many entrepreneurs that decide to scale up their operations without getting the right support run the risk of making costly mistakes that could threaten the survival of their businesses. Heather Lowe, Head of Enterprise and Supplier Development at FNB Business says scaling up refers to the journey entrepreneurs take to sustainably expand their businesses by improving their management structures, operations and systems in order to grow market share and revenue. These high growth potential … [Read more...] about 4 Mistakes to avoid when scaling up a business
