You’ve got the idea for your business. A small-medium size business that has a personal feel to it. Great. Most businesses need certain equipment to operate – from furniture to computers. Aside from internally generated cash flow or credit lines, when looking to acquire equipment for your startup, you should investigate other ways to finance these acquisitions. For a small business like yours, financing the acquisition of equipment rather than using the business’ cash offers significant benefits and mitigates risk. Here are 10 reasons why you should consider equipment finance.
Procurement, Inventory & Production
Buying a truck for your business is no negligible expense, never mind buying a whole fleet of trucks. Therefore you want to make sure you get the best truck for the job. If you get the specifications right from the beginning your vehicle will be more fuel-efficient and provide maximum reliability. Here are the most important pieces of information to talk to your truck dealer about.
The purpose of this article is to help you as business owner to understand your clients better, so you can approach them in a way that will be beneficial for both of you. The model I am using is the Social Styles model. In essence there are 4 thinking styles: Analytical, Driver, Amiable, and Expressive. Let’s explore each of them in more detail and then talk about how you should approach each style.
The Industrial Development Corporation is a national development finance institution whose primary objectives are to contribute to the generation of balanced, sustainable economic growth in Africa, and to the economic empowerment of the South African population, thereby promoting the economic prosperity of all citizens. The IDC achieves this by promoting entrepreneurship through the building of competitive industries and enterprises based on sound business principles.
A bird’s eye view of this ultra-competitive and thriving market segment would show significant growth within the introduction of various applications that leverage off this technology to the maximum. It is not difficult to ascertain why. Mobile working is now firmly entrenched into the fabric of our socio-economy. It is very much an understood part of modern business-to-business and business-to-consumer communication. Here is why mobile and wireless technology continues to serve as the foundation for many a sector within the South African economy.
Production planning is “the administrative process that takes place within a manufacturing business and that involves making sure that sufficient raw materials, staff and other necessary items are procured and ready to create finished products according to the schedule specified”, as defined by the Business Dictionary. Are you a manufacturing firm? If so, you will need a production plan to ensure that you have all the inputs for production ready at the right time to meet your product demand. Learn why production planning is important and the main steps involved in the production planning and controlling process.
The high crime rate is a reality of doing business in South Africa. It is because of this that security is one of the most important aspects of running a business - it's not an area where you can afford to cut corners. Smaller companies, with fewer resources to secure themselves, are particularly vulnerable. Find out what basic measures you can put in place to make your business less of a target. This article looks at various ways of assuring your company and your employees' safety.
Since 1969, the SABS Design Institute has been dedicated to human-centered design, which has the potential to stimulate growth in South Africa’s manufacturing industry. Focusing on the country’s design capabilities, it has become an agent for change and facilitated valuable socio-economic development. The Institute translates research & development and invention into sustainable economic opportunities, while creating a general awareness of design.
Supermarket & Retailer was born in 1957 under the name The General Dealer. This title reflected the independent counter service stores that dominated grocery retailing at the time. We're now a specialised media group, which focuses on fast-moving consumer goods, retailers, wholesalers, and suppliers. We help our readers explore new store formats (hybrids, supermarket/fuel retailer collaborations etc.), embrace new technologies (online, mobile, social networking), and improve the efficiency of the entire operation – from supplier, distribution centre, store shelf to customer basket.
Simply put, inventory management refers to the act or process of keeping track of or managing the stock in your small business. It is a crucial aspect of running a profitable business because the inventory you keep is essentially potential profit in the form material goods such as food, clothes, etc. Holding on to inventory should therefore be something to avoid as it will tie up your cash flow.