Maximising profit in business
Money matters will be discussed at length during the convention held at the Battlefield Lodge.
The KwaZulu-Natal Financial Literacy Association (KZNFLA), under the auspices of Finance MEC Belinda Scott, and The uBhaqa Chamber of Businesses will be taking money matters to tavern owners and construction companies on 19 August 2014 at the Battlefield Country Lodge in Dundee.
Walking the entrepreneurial road can be lonely and scary according to the latest statistics of small businesses in South Africa. Trade and Industry Minister, Rob Davies said in May 2013 that “five out of seven new small businesses fail within the first year”. For those that have survived the first year failure-hurdles sustainable growth is the next goal.
Government is acutely aware that small businesses are key to addressing high unemployment and developing the economy. To this end great emphasis is being placed on mentorship programmes, micro and small business finance and non-financial support.
Research has shown that weak financial literacy and poor money management may be the single biggest reason why small businesses don’t succeed. No new business owner is expected to know all the answers all the time and it’s a good thing to learn from those who have different ideas and perspectives. Financial education to empower individuals to manager their personal finances (debt and savings levels) is a crucial step in increasing entrepreneurship and decreasing new venture failures.
The event is scheduled to start at 9 am to 13;45pm. Kindly RSVP before 12pm on Monday August 18 to busisiwe.mkhize@kzntreasury.gov.za
For more information contact Ntokozo Maphisa at 082 773 0937
