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Entrepreneurship

  • Alan Knott-Craig Junior’s new book out now – The values that are essential [Extract]

    Developing values such as loyalty, respect, humility and perseverance will stand you in good stead as an entrepreneur In this second extract from his new book,tech entrepreneur Alan Knott-Craig Junior unpacks some of these values in more detail. With permission from Knott-Craig -- the founder of Project Isizwe and former Mxit head -- Ventureburn is serialising parts of the entrepreneur’s new self-published book 13 Rules for Being an Entrepreneur which is now available via his website http://bigalmanack.com. Ventureburn is also giving away five copies of the new book. See below for details. Here’s the second extract — taken from the second chapter titled “Values”. See the first extract...

  • 13 Rules for being an Entrepreneur – Follow your dreams [Extract]

    Being an entrepreneur is tough. It takes the honing of a multiple of skills and "never say die" attitude to succeed. But anyone can be an entrepreneur, says Alan Knott-Craig, the founder of Project Isizwe and former Mxit head. With permission from Knott-Craig, Ventureburn is serialising parts of the entrepreneur's new self-published book 13 Rules for Being an Entrepreneur which is now available via his website http://bigalmanack.com. Ventureburn is also giving away five copies of the new book. See below for details. Here's the first extract -- taken from the first chapter titled "The Beginning". Follow your dreams Dreams are like visions. Sometimes they happen while you’re sleeping....

  • Small Business Corporation regime takes sting out of tax on those early profits

    Tax season is open - and the SA Revenue Service (Sars) is on a mission this year. Fiscal budgets are under immense pressure. South Africa's political and economic circumstances has seen an exodus of both tax payers and taxable assets. Many wealth management firms make a living purely from helping high net worth individuals move their income-generating assets abroad. It means that tax paying entities operating in South Africa will be under more scrutiny this year than ever before. The 2017 tax season for individuals opened at the beginning of this month. The company provisional tax deadline follows close behind it. As business owner,...

  • Innovation, tech transfer can help South Africa to address triple challenges

    The news in South Africa, and in many other countries, is currently filled with stories of power battles, conflict and corruption -- when we should rather be debating the triple challenge of alleviating poverty, reducing inequality and creating jobs. The future of South Africa, and much of the developing world, depends on the extent to which political and economic leaders are able to find ways of solving these three critical challenges. At the heart of any solution is finding ways to encourage economic growth. The growth rate of South Africa’s gross domestic product (GDP) has, over recent years, hovered stubbornly around one...

  • Investors clamouring for 12J VC incentive following tax hike – fund managers

    The increase in the top marginal income tax rate to 45% for high earners is driving more South African investors to seek out the 12J venture capital (VC) incentive to offset their taxable income, say fund managers. Under the incentive, which is managed by the South African Revenue Service (Sars), investors that invest in venture capital companies (VCCs) that in turn invest in qualifying small enterprises, can write off the full investment made in any one year from their taxable income. In February in his Budget speech then Finance Minister Pravin Gordhan announced a new top tax rate of 45% for individuals earning...

  • Do your commercial drone insurance policies have adequate cover?

    Incidents involving drones can be minor, slightly humorous, or have extremely dire consequences.  From a kiss-cam drone cutting off a piece of a person's nose or a drone spying through the president's bedroom window, to extreme cases such as an engineering drone flying into a crane operator who knocks down a portion of an under-construction building, or a drone dropping weapons or bombs into a prison or flying into the propeller of a 500-passenger airliner. The new drone regulations, which came into effect on 1 July 2015 and form part of the Civil Aviation Regulations, place an obligation on those with commercial drone...

  • University, science council spinoffs climbs to 45 startups, finds survey

    The number of startups spun out of SA science councils and universities climbed from 29 to 45 between 2008 and 2014, following the implementation of a new IP law in 2009, a report released this week revealed. The SA National Survey of Intellectual Property (IP) and Technology Transfer at Publicly Funded Research Institutions, which was released yesterday by the Department of Science and Technology, noted that some progress had been made since the Intellectual Property Rights from Publicly Financed Research and Development (IPR) Act came into effect in 2009. The act aims to get publicly-funded research institutions such as universities and...

  • IDC approves R17m deal to fund SA’s first 3D metal printer

    The Industrial Development Corporation (IDC) has concluded an agreement with an SA startup that plans to launch the country's first production-based 3D metal printer by June. The investment of R17-million in Metal Heart, approved last month, is the 11th deal concluded by the IDC's new industries unit, since the unit's launch in 2015. Six of the deals have been in new companies. "They moved quickly," says Gert Lombard, who says he and business partner Kim Gray initially met with the unit in November last year. The deal was approved two weeks ago. The investment is in the form of a term loan and a...

  • Exclusive: ‘Government won’t match private sector in R1.5bn SME fund’

    The SA government has no immediate plans to match the R1.5-billion that 48 large companies have committed to the SA SME Fund, National Treasury Director-General Lungisa Fuzile told Ventureburn today. Deputy President Cyril Ramaphosa pledged during the launch of the fund in May last year that the government would match any contribution made by the private sector. However Fuzile, who sits on the fund's board, said the government will instead look to improve coordination between the state and private sector, while stepping up its existing funding and business support to small businesses. "It is not clear from a fiscal point of view...

  • Finfind initiative to link SA lenders with entrepreneurs seeking finance

    SA banks and lenders may soon be able to use a finance-matching platform to source entrepreneurs looking for finance, if a new initiative piloted by SA fintech startup finfind proves successful. Launched in October 2015, finfind is piloting a number of new initiatives which will help entrepreneurs to get better access to finance in South Africa. Speaking to Ventureburn today, finfind CEO Darlene Menzies says these include an initiative which will allow banks and other lenders to source fundable entrepreneurs from the platform. Currently entrepreneurs that access the site can complete a questionnaire and be told whether they qualify for funding or...