Entrepreneurial experts share knowledge

Ballito resident Ramsay Daly, one of the co-founders of iKhokha.com, a mobile payment platform that services South African SMEs, was the guest speaker at the popular weekly virtual entrepreneurs workshop hosted by Hirsch’s co-founder and executive director Margaret Hirsch, and top business coach at ActionCOACH, Marlene Powell.

Ramsay and his partners Clive and Matt Putman built the nucleus of what today is a billion rand company in a back room in Clive’s house 10 years ago.

By 2019 they had processed R3.9-billion worth of business and signed 30 000 merchants.

Despite the Covid-19 pandemic disruption, iKhokha grew exponentially.

Their workforce has grown steadily over the years and they now employ 150 people.

Their client base has expanded to more than 100 000 people across multiple sectors, the most prominent being the hair and beauty, hospitality and independent retail sectors.

Ramsay explained their initial challenges were establishing a business that was totally unknown – and obtaining investor money that had to be repaid.

He said if they hadn’t developed a solid business plan, the business would have floundered.

Powell, who has coached many startups, said credibility was extremely important, knowing the market that you’re in and finding the best way to get funding.

She echoed Ramsay’s sentiments about putting together a solid business plan as starting a business was not as straightforward as some people make it out to be.

Margaret and Marlene’s next workshop will be held tomorrow (Friday) from 11am to noon, with award-winning presenter and journalist at Radio LotusFM, Neelofar Sayed. as guest speaker.

Follow the link https://bit.ly/EWKSHP to join.

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