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  • Easy things to forget when expanding overseas

    One of the primary methods for any growing business to capitalise on the success it may be enjoying is to look at expanding into a new market. For those that are thriving in their domestic scene, expanding abroad will likely be the next step. There are many guides out there of how to best go about doing this, which include advice such as budgeting for expansion, making local contacts and more. There are other important aspects which, if forgotten about, can prove disastrous. Legal barriers Working in a foreign country means that your business will have to abide by its laws. These will probably...

  • Goodbye to online crooks: SA fintech startup keeps money safe till buyers and sellers both agree

    As online fraud in South Africa escalates, buying and selling goods using online platforms places both buyers and sellers at risk. After Jethro O’Brien, CEO and co-founder of TradeSafe.co.za, was duped while trying to buy car parts that had been advertised online, his idea for TradeSafe was born. TradeSafe is a licensed, independent fintech company that safeguards a buyer's funds in trust (escrow) until the seller delivers what was promised. Only once the buyer is happy with the goods or services received, does TradeSafe release the funds. Explains O’Brien, “We act as a buffer between a buyer and a seller. The...

  • Advice for startups that ship large quantities of products

    If you are starting a new business that will be shipping lots of products either domestically or internationally then you need to make sure you have the capabilities and resources to be able to send your products to your customers.  Know the risks Over 50% of startups fail within the first year so you need to make sure you know the market you are going into, and that there is a demand for another competitor in this market. There are big risks when going it alone and starting a new business, but with that comes great reward if you can get it...

  • Investing in stock vs. CFD Trading

    These days it seems that more and more people are trading or investing, either as a secondary source of income or on a professional level. This might be something that interests you and if it is, it’s a good idea to understand the ins and outs of the investment world before you get involved. Specifically, it could be worth looking at two of the major forms of trading, contracts for difference (CFD) and stock investment. We’ll start by examining the more traditional form of investment. Investing in stock Stock investment is all about trading in shares, which are the basic unit of...

  • Boosting financial inclusion through fintech solutions

    While the opportunity for people in Africa to access formal financial services has improved in the last five years, thanks in large part to the prevalence of mobile based solutions, various barriers to access across the continent remain. The last World Bank Global Findex Data showed that 34 percent of adults on the continent had a bank account and only 16 percent had formal savings in place. South Africa fared better with 70 percent of adults owning a bank account but only a third of the nation had formal savings. Research published as part of the World Economic Forum on Africa...

  • The importance of auditors for businesses that are looking to grow

    Arguably, we've never lived in stranger or more conflicted times. On the one hand, it has never been easier to launch a new business venture or bring a product to market. This is reflected by small business statistics in the UK, with the number of active SMEs in the private sector having increased by 197 000 to a record 5.7-million at the beginning of last year. Despite this, an estimated 96% of all businesses still fail during their first 10 years of trading, as firms continue to do battle with a volatile and strained economic climate. Sure, this figure may be slightly...

  • Preparing your startup for international expansion

    While people often try to apply generic rules to all startup ventures, the fact remains that these entities are not created equal. So, although it's usually sound advice to suggest that entrepreneurs strive to establish their brand locally before expanding overseas, there are instances when this is arguably counterproductive. After all, it's not unknown for firms to offer products or services that have a more defined target audience overseas, while your startup may also benefit from first-hand knowledge of international expertise. If you are going to expand your business overseas, however, you'll need to ensure that you're fully prepared. Here are some...

  • How to build local brand awareness

    Local search engine optimisation (SEO) has become central to the success of startups in the modern age, as small and independent businesses look to reach a targeted, regional market. This is borne out by the fact 50% of customers who perform a local search on the smartphone visit a physical store within 24 hours, as the power of targeted, local marketing continues to resonate with businesses. With this in mind, it's crucial that your business looks to build brand awareness within the local area before looking to expand nationwide. Here are some steps that you can take to achieve this. Invest in...

  • Here are some simple ways to manage your finances within your startup

    The rate of small business failure remains alarmingly high, even in a digital age that supposedly empowers aspiring entrepreneurs. So despite the fact that it has never been easier to launch a startup venture in 2018, just 40% are still trading after five years of operations. Interestingly, the rate of small business survival after the first year is relatively high at 91%, but this begins to decline considerably as ventures progress and continue to age. Much of this to do with financial mismanagement, particularly in instances where firms try to expand quickly at a disproportionate rate to revenue. In this article, we'll...

  • Three things to consider when looking to save on the costs of transferring pensions

    Let’s face facts -- there’s scarcely been a worse time than now, to accumulate wealth. After all, not only has real wage growth stalled across multiple industries, but inflation peaked at a little under 3% during the latter stages of last years. This has sent household savings plunging to record lows, while there’s no indication as to when the economic climate will improve. With this in mind, it’s important that you strive to maximise your pension funds for the longer term. This will mean reducing the cost of managing your funds, particularly in instances where you want to transfer numerous plans into...

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