EDUCATION & TRAINING NEWS

Stop procrastinating - start your own business

7 APR 2016 | SAVE | EMAIL | PRINT |  PDF    ISSUED BY: QUICKBOOKS

Starting your own business can be daunting and the question of "Where do I start?" seems to be the one that stops entrepreneurs from taking this giant leap. QuickBooks understands the fears facing the first-time entrepreneur as many of the concerns that new business owners face are ones of a financial nature. How will I fund my business? How will I keep a handle on my cash flow? I don't understand accounting - surely that is a barrier to starting my own business?

Being the accounting software of choice for the start-up and small to medium business sector worldwide, QuickBooks Accounting Software are putting their money where their mouth is and have come up with the perfect new business starter pack for fledgling business owners that will ensure that the transition into starting their own business is not as scary as they might think. 

The EasyBiz Business in a Bag includes:

• QuickBooks Pro software package 
• Bizshift CD – a practical guide to starting your own business that includes everything from A-Z – from compliance to management, labour to marketing and everything inbetween 
• An Ubuntu Business Bootcamp Voucher – Ubuntu Business Bootcamp is an action-packed half-day event that empowers entrepreneurs with everything that they need to start and grow their business 
• An Ubuntu Business Strategic Analysis Discount Voucher – the Ubuntu Strategic Analysis Questionnaire has been designed to give a snapshot of your business in order to provide the best advice on how to improve your current effectiveness and profitability 
• R2,000 worth of accounting services by a Southern Africa Institute of Business Accountants (SAIBA) Business Accountant in Practice in the new subscriber’s region 
• QuickBooks Essentials Training Manual 
• 50% off training on QuickBooks Pro to ensure the best possible start for your business (Johannesburg/Cape Town and Durban) 
• The QuickBooks Entrepreneurs Guide Books containing pertinent information for every new business owner

The EasyBiz Business in a Bag costs only R3,999.00, making it a very affordable package for budding entrepreneurs. Conditions of purchase are that the business is not older that one year and this offer is for new QuickBooks users only – customer registration forms will need to be submitted. 

One thing is certain, without a good financial understanding and a feature-rich accounting package, most new ventures fail. QuickBooks believes in assisting start-up and growing business and have come up with this package to help ensure that the entrepreneurial spirit of South Africa stays alive. 

For more information on QuickBooks’ new business starter pack, the EasyBiz Business in a Bag, visit www.quickbooks.co.za or e-mail: sales@quickbooks.co.za. 

EDUCATION & TRAINING NEWS

91% pass rate in latest professional accountant exam

7 APR 2016 | SAVE | EMAIL | PRINT |  PDF    

South Africa is richer by 457 professional accountants. The results from the latest professional evaluation exam regulated by the South African Institute of Professional Accountants (SAIPA) indicates that a record 91% of applicants passed and subsequently earned the designation of Professional Accountant (SA).

© Andriy Popov www.123RF.com123RF.com

Project Achiever

Rashied Small, education, training and membership executive: SAIPA explains the record result was due in large part to the Project Achiever intervention funded by the financial & accounting sector education and training authority (FASSET).

“Project Achiever was implemented for the first time during August 2015 in preparation for the professional evaluation examination written in November 2015.”

Transformation strategy

“If forms part of SAIPA’s transformation strategy and therefore targeted black candidates. SAIPA however provided an opportunity to its total constituency by funding 20 candidates who did not meet the fund requirement,” he says.

According to Small, 90% of the total candidates who registered for Project Achiever were unsuccessful in attempting the professional evaluation examination previously. A large proportion of the candidates attempted the examination more than once and gave up their goal of earning the professional accountant (SA) designation.

“Through the intervention, 107 out of 129 candidates – approximately 83% – now managed to qualify as a professional accountant. The project increased the number of black candidates writing the examination from an average of 24% over the past 10 years to 37% for the November 2015 examination.”

Competency-based assessment

Part of the premise of Project Achiever was to prepare the candidates for a more competency-based assessment, as recommended by the International Federation of Accountants (IFAC). 

To achieve this, SAIPA commenced with the phasing in of application-based assessments incorporating practical and real live case studies and scenarios. 

The focus of the assessment also shifted from computations and recall of theoretical knowledge to discussion based questions. This took the form of providing advice and contextualising the theoretical framework, and integrating questions combining the core academic knowledge areas into a case study.

“The benefit for future employers or clients of the shift towards competency-based assessments place greater emphasis on the thinking and analytical skills of the profession. The employer or client will benefit sooner from the combined competence and expertise of the professional accountant beyond the preparation of financial statements for compliance purposes,” he says.

EDUCATION & TRAINING NEWS

Women entrepreneurs geared for success with "Imbokodo Iyazenzela" initiative

12 MAY 2016 | SAVE | EMAIL | PRINT |  PDF    ISSUED BY: ITHALA DEVELOPMENT FINANCE CORPORATION

A development programme targeting women entrepreneurs in mainly rural areas across KwaZulu-Natal will see thousands of them getting closer to realising their dreams of achieving better socio-economic conditions.

“Imbokodo Iyazenzela”, an isiZulu phrase which means “Women doing it for themselves”, is a unique enterprise development journey which seeks to acknowledge dynamic women making a positive impact in their communities on a public platform. 

Ithala Development Finance Corporation develops and supports programmes that create an enabling environment for women entrepreneurs based on three key priority areas, viz. rural development; township revival; and youth and women empowerment. 

The programme which involves a series of informative breakfast workshops across the KZN province over a three-month period, was piloted in 2015 and reached 1041 women in 16 towns. 

The majority of women who attended the workshops were 38 years and older, thus pointing to the enterprising nature of this group. 

“The 2015 workshops provided key insights into the challenges experienced by women when starting, sustaining and growing their businesses which gives us leverage to be able to change the status quo,” said Thuli Galelekile, Ithala Group Communications and Marketing Divisional Manager.

“The four broad categories of concern were access to markets; access to finance; access to business support; and marketing and sales. 

“This year, we are taking a stance against poverty and inequality and have partnered with several stakeholders to develop strategies for revitalising rural businesses. The aim is to see more businesses that are thriving, sustainable and successful.” 

She said the programme was aimed at delivering on Ithala’s brand promise which is underpinned by three pillars – Hope, Access and Opportunity. 

Several workshops will be held from May to August, the details of which will be made available in the local press and aired on community radio stations. 

Delegates who attended the first workshop in Pietermaritzburg on 10 May were positive about their experiences. 

Pretty Madela, a business owner in the fashion industry, said: “Among some of the challenges I experience are access to markets, competitors and finances. The workshop was very helpful. Representatives from SEDA have answered some of the problems that we encounter.” 

Dudu Zulu, who is in the concrete manufacturing business, said: “Access to markets is a particular challenge for my business. The workshop was very informative and I benefitted greatly by coming here.” 

Strategic partners on board include the Small Enterprise Development Agency (SEDA); The South African Revenue Service (SARS ) KZN Economic Development Tourism and Environmental Affairs (EDTEA); Small Business Growth Enterprise (SBGE); Durban Business Chamber of Commerce and Industry; Companies and Intellectual Property Commission (CIPC); Business Women’s Association South Africa; KZN Treasury; and District Municipalities’ Local Economic Development offices. 

Ithala, together with its partners, will be revisiting 10 areas in which workshops were held last year (2015) to help address the following grey areas that hinder business growth:

• Business Registration 
• Database Registration 
• SARS Registration 
• BBBEE compliance 
• Business Mentorship 
• Development of Marketing material 
• Business Skills Training 
• Funding information, etc.

The programme is a pillar of support to women entrepreneurs in KZN who require access to finance and the resources to grow. 

The KZN development agency’s suite of offerings includes, among others, business finance, properties, savings and investments, transactional banking, insurance and lending products. 

The initiative will culminate in a glittering awards ceremony to be held during Women’s Month in August and will recognise, acknowledge and celebrate women who have advanced in the small business category. 

For enquiries, call 031 907 8921 or email smayeza@ithala.co.za. 

EDUCATION & TRAINING NEWS

Giving entrepreneurs a head start

18 MAY 2016 | SAVE | EMAIL | PRINT |  PDF    

With 5,7 million South Africans of working age unemployed, teaching budding entrepreneurs the skills they need to grow their business is becoming a necessity.

So a programme aimed at teaching financial and customer proficiencies to between 600 and 800 entrepreneurs and SMMEs between now and December this year provides a valuable springboard towards economic growth and greater employment opportunities down the line.

Front Simphiwe Buthelezi (Siyayenzalenlo Tourism), Nonhlanhla Poswa (Fitness Class), Tsholofelo Ntuli (Fitness Class) and Mlungisi Shabalala (Siyayenzalenlo Tourism).  Back Ray-ann Sedres (head: transformation at Santam), Karl Bishop (head: niche business at Santam) and Martine Solomon (Phama Media Marketing and Solutions).

Insurance company, Santam has partnered with The Box Shop, a recently established retail outlet and business incubator situated within the Vilikazi Street precinct in the heart of Soweto, where it has setup a learning hub. 

A consumer education training partner, Phama Media Marketing and Solutions, also an SMME, has come on board to deliver the training, which started at the beginning of May. The focus is on interactive teaching covering concepts such as: the basics of financial planning, business budgeting and insurance dos and don’ts, and the risks faced by entrepreneurs.

“Equipping entrepreneurs with the right skills and appropriate training could prove the difference between a failed enterprise or that of a sustained and successful start-up with the potential to expand and grow.” 

“With South Africa’s jobless rate at an eight-year high, imparting greater support to the establishment and development of small businesses and the active promotion of a broader entrepreneurial culture is just one of the ways in which the economy can be stimulated and additional jobs created,” says Ray-ann Sedres, head of Transformation at Santam.

African Entrepreneurship Award

BMCE Bank of Africa closes registration for the 2016 African Entrepreneurship Award and prepares to announce the candidates for its second round

8800 entrepreneurs from 105 countries registered with 3900 business ideas

CASABLANCA, Morocco, May 17, 2016/ -- The Group BMCE Bank of Africa announces the closing of Round 1 of the second edition of the African Entrepreneurship Award (https://AfricanEntrepreneurshipAward.com). The AEA is dedicated to inspire talented African entrepreneurs, or originating from Africa, by funding businesses using technologies that transcend borders to create jobs and improve lives. Round 1 opened in mid-February and closed May 6th 2016, attracting about 8800 entrepreneurs from 105 countries submitting 3900 business ideas, that is an increase of +33% in applications volume compared to the Award’s first edition in 2015. From now until May 31st, 130 Regional African mentors are mentoring each business idea to decide who continues to Round 2 “Most Likely to Succeed Across Africa” in each category: Education, Environment and Uncharted Domains. Entrepreneurs from all 54 African countries plus 51 countries in the diaspora competed in Round 1 for “Most Needed In My Region”. Round 1 winners will be announced on May 31st for the opening of Round 2, lasting from May 31st to July 31st 2016. During Round 2, entrepreneurs will benefit from the Pan-African mentors' expertise to improve their business’ ability to meet customer needs and compete effectively across Africa. Following this second round, the best ideas will qualify for the third round of the AEA competition, where Global Mentors from the three continents will mentor African entrepreneurs to improve their businesses and rank “The Most Significant and Sustainable Businesses” for Africa. Initiated in November 2014 by the Chairman of the Group BMCE Bank of Africa, Mr. Othman Benjelloun, the African Entrepreneurship Award illustrates the commitment of this group to inspire entrepreneurship across all of Africa. Each year, this initiative funds 1 million USD for the best African entrepreneurs, thus supporting their efforts to create jobs and improve lives for every African region. In 2015, the 1 million USD Award was shared among 10 winners from five economic zones across Africa.

EYEWITNESS NEWS

LOCAL IS LEKKER... SABC TO PLAY 90% SA MUSIC FROM TOMORROW

As from tomorrow, 90 percent of the music played on its radio stations will be local content.

SABC headquarters in Auckland Park, Johannesburg. Picture: AFP

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Emily Corke & Masechaba Sefularo | about 24 hours ago

JOHANNESBURG – The South African Broadcasting Corporation (SABC) has confirmed it’s implementing the “radical” decision to prioritise local music on all of its radio stations, in a bid to prioritise more local content.

As from tomorrow, 90 percent of the music played on its radio stations will be local content. 

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EWN Reporter ‎@ewnreporter

#SAMusic The public broadcaster says the music will include all genres with a special focus on kwaito, jazz, reggae and gospel. TM

4:25 PM - 11 May 2016 · Johannesburg, South Africa, South Africa

 
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The SABC says the decision was taken after extensive engagements with music representatives, as it moves to ensure the broadcaster reflects the various styles of local music.

Spokesperson Kaiser Kganyago says, “For the next three months, 90 percent of the music on our platform will be local music while we assess the reception of the public and how we are going to move forward in terms of the final percentage.”

In a statement released, says it will engage radio audiences to evaluate whether they are pleased with the changes.

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EWN Reporter ‎@ewnreporter

#SAMusic The SABC says the 90% local music quota will stand for three months - subject to feedback from listeners. TM

4:28 PM - 11 May 2016 · Johannesburg, South Africa, South Africa

 
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This recent move is in line with the SABC’s bid to ensure that it prioritise local content that represents the diversity of South African cultures.

The broadcaster says it will use local music as fillers on television, and as from 1 July, the SABC will also increase the local content offering.

TELECOMMUNICATIONS NEWS

Africa leads the way with mobile data

6 MAY 2016 | SAVE | EMAIL | PRINT |  PDF    

There has been a significant shift in the telecommunications landscape over the last 15 years, and the fast evolution of connectivity has brought us from the screeching tones of a dial up connection to ADSL, fibre, Wi-Fi and 2,3 and 4G connections.

©photka via 123RF

This progression has impacted both business and our personal lives, bringing the world to our fingertips almost faster than we can blink. In South Africa, fibre is taking us to the next level of this evolution, bringing about exciting change and with it, faster connectivity than ever before.

Fibre is the current buzzword in South Africa and trenches are being dug and filled with fibre cable across the globe, barring much of the rest of Africa. Many African countries are bucking the trend towards fibre access for everyone, opting instead for the plentiful benefits of mobile connectivity. But why is mobile connectivity winning out over fibre in Africa?

The mobile advantage

“Countries such as Kenya are seeing a massive uptake of smartphones and mobile connectivity,” says Danny Ross, executive head: Africa at Jasco Enterprise. “Not only are smartphones readily available, but the demand for data has driven mobile service providers to offer very competitive data packages. So mobile data can be purchased and used relatively cheaply compared to other data service offerings.”

Data streaming has also become faster and coverage has become wider. Even people in remote locations can often access the internet with a smartphone. Over and above the reasonable data costs, this is where the benefits of mobile connectivity become most evident: mobile service provisioning is quicker and easier than fibre to deploy to remote areas. Service providers need simply erect a base station and they will be able to immediately provide services to multiple customers.

“We are also seeing a profusion of applications becoming available, designed specifically for the African market,” continues Ross. “There are applications such as Mocality, a Kenyan business directory, and SlimTrader, an app that enables small businesses, like street vendors, to process payments on their mobile phones.”

Applications that make life easier are one of the key drivers behind mobile connectivity’s success in Africa. Many people choose to interact with each other and with businesses online, and smartphone applications that centralise and simplify this process offer the best platforms to do so.

But what about the businesses?

According to Ross, individuals aren’t the only subscribers of mobile data. Despite fibre making inroads into the African market, many African businesses are still choosing to use mobile data. With data prices in the rest of Africa being considerably cheaper than in South Africa, and without needing to wait for months to get connected as is often the case with fibre, businesses are seeing the benefits of cost effective, fast connectivity. There is also the added benefit that mobile data can reach almost anywhere, so businesses outside of urban areas can usually get connected.

Organisations are also cashing in on the application trend. Many companies are developing their own applications in order to connect with – and sell to – their customer base. This is especially true of financial institutions who are enabling branchless banking for their customers. Companies are also using mobile applications themselves to fulfil many business functions, such as online banking, payment facilitation and route planning.

So what’s the downside? Ross admits that there are a few possible disadvantages. While mobile data coverage is extensive, it isn’t omnipresent and there are areas where coverage could be scarce or non-existent. Additionally, companies who have very large bandwidth requirements may elect to use an alternative method of connectivity, as mobile data may not always offer the speeds required for efficiency in such cases.

“The benefits far outweigh the disadvantages,” finishes Ross, emphasising exactly why Africa chooses mobile data over any other technology. Although there is still a market for technologies such as fibre and Wi-Fi, Africa’s innovative use of mobile data and applications to make life simpler and better is lightyears ahead of anywhere else.