An increasing number of entrepreneurs are entering the challenging new world of running one’s own business. Pearl Seigel addresses 10 common pitfalls that start-up businesses often face. These pitfalls include poor (or nonexistent) planning, under-charging on products or services, or a lack of motivation, among others. In doing so, she also provides ways to avoid said pitfalls.
Starting a Tourism Business
There is a lot of research that must be done before you buy an accommodation establishment. There are the obvious physical aspects like the location, size of the property, quality and age of the building, quality and condition of the furniture, fixtures and fittings as well as number and size of rooms. So now you have found the "perfect" B&B/guesthouse/lodge to buy. There are more questions you need to ask about the establishment and how it is run.
The CIPC was established by the Companies Act, 2008 (Act No. 71 of 2008) as a juristic person to function as an organ of state within the public administration, but as an institution outside the public service. Its main functions include the registration of Companies, Co-operatives and Intellectual Property Rights (trade marks, patents, designs and copyright) and maintenance thereof as well as the disclosure of Information on its business registers, among others. Find out more in this article.
Starting and running a guesthouse or bed and breakfast in an idyllic location is a dream that many people share. It is seen as an attractive alternative to corporate jobs because it is considered to be less stressful, less structured, and more peaceful. However, it is as carefree as it seems. This article looks at three tips to help you start and run a successful guesthouse or B&B.
As of January 1st 2019, there exists a national minimum wage which applies to all employers and workers, except for members of the National Defense Force, National Intelligence Agency, South African Secret Service, or unpaid volunteers working for charity. The national minimum wage was effected through the National Minimum Wage Act which came about as an attempt to address the income disparities in the national labour market.
Ok, so you have a great idea. In the early hours of the morning this idea has the potential of Google as it floats around in your semi-sleep state. You wake up and write it all down with flow diagrams and income streams all neatly defined. Now what? Taking an idea from concept to reality is what makes us Entrepreneurs. Here are some simple questions to explore when next you have an entrepreneurial epiphany. Knowing the answers to these questions will assist in placing your concept on the road to reality.
When asked, the majority of entrepreneurs will tell you that access to finance is their greatest challenge. Funders may target certain industries, types of business or even geographical areas. By knowing who and where these financiers are, you can approach the most appropriate organisation that meets your business's specific needs and goals. This document provides an overview of organisations that provide funding to the smallest micro businesses all the way through to medium-sized enterprises in South Africa.
While access to finance is often quoted as one of the great challenges for small businesses, they also cite the need for non-financial support. Incubation, mentorship and access to business management service providers are just some of the services these kinds of initiatives can provide. Here is a list of small business incubators and support programmes geared towards assisting small businesses.
After much soul-searching, you’ve decided that you want to open your own guest house, boutique hotel or B&B. There are many factors to consider, such as where your business will be and who your target market is, but much of these decisions will be based on your budget, so that may be a good place to start. Here are just some of the costs associated with setting up a new accommodation business.
Buying a business is an alternative way to get into business with less risk than normally associated with a start-up venture. But there are still many factors you have to consider before signing on the dotted line. This article looks at those factors as well as why buying an existing business may be better for you than going the start-up route. Either way, getting professional advice is essential, as this will help you cover the unknown aspects of the business venture you are pursuing.