Housing in Southern Africa June 2016

Industry Buzz

T his path requires a lot of hard work, dedication and com- mitment and unfortunately many end up failing. But for those businesses that survive, the rewards of entrepreneurship far outweigh the challenges on the road to success. Darlene Menzies, CEO of SMEasy, offers some business start-up guidelines. One of themost important charac- teristics of successful entrepreneurs is courage. When it comes to starting a business some people need the courage to let go of the security of a monthly salary and the benefits of employment, others need the cour- age to put savings on the line and for others it is to take the leap even although family and friends are not convinced about the venture. There is never the perfect time to start your own business but once you have considered every aspect – plan- ning and preparation – there is only one thing left to do. The courage to go for it! Registrations On the practical side, entrepreneurs need to be aware of the various busi- ness registrations required in order to trade. These include registering the business with the Companies and Intellectual Property Commission (CIPC) government department or visit www.cipc.co.za This CIPC registration includes automatic SARS registration for the company’s income tax number. Staff will need to be registered for UIF and Workman’s Compensation with the Department of Labour. These are some of the basic legal requirements. It is also helpful to register a domain name in order to create email addresses and a com- pany website. Start-up capital and access to finance Funding is amajor challenge formany entrepreneurs. According to the 2015 Ventureburn Startup Survey, 56% of startups are self-funded and 11% Start-ups E v e r y y ea r, hund r ed s o f thousands of South Africans take a leap of faith and start their own business.

The machine boasts a number of great benefits and features. “It offers a larger grinding circumference than that of standard 250 mm single head grinders. However the unique benefit of themachine is that the total weight of themotor is exerted onto the head of the machine which offers better grinding pressure. Along with this, it is manufactured with what is known as a floating head. The floating head follows the profile of the floor and gives a significantly flatter, and better grind,” explains Clark. The machine is used in conjunc- tion with the Diamond Products 350 mm universal adaptor plate. The adaptor plate works on a mag- netic system that allows for the Qwik change grinding wings/shoes to be interchangeable, which opens up the versatility of themachine. Clark notes that there are five stages of diamond grinding in the form of the diamond wings/shoes, ranging from a 16/20 grit to a 250 grit. Diamond Product also offers this range in different diamond bonds for different types of surfaces. The floor grinder is fitted with a powerful 2,2 kW single phase motor and can be used wet or dry. The dust shroud system is a unique design automatically adjusting to suit seg- mented height and floor angles. The shroud system can be connected to a Diamond Products Dust Collector to eliminate dust while grinding. The 350 mm grinder has been designed and manufactured with a folding handle and weighs approximately 67 kgswhich is ideal for easymanoeu- vrability and logistical planning. “The Single Head Floor grinders are designed for dependability and offer ease of use,” concludes Clark. ■ Diamond Products Director, Brian Clark, notes that the new Diamond Products 350mm floor grinder has been designed for small to medium horizontal surface grinding. Single head floor grinder

Darlene Menzies T he 350 mm floor grinder can be used to grind floors level, to prepare a floor for specialised coatings as well as for the removal of coatings or for surface renewal.

borrow money from friends and family. If neither of these resources are available, use a free product such as finfind to secure finance. It is a unique product that enables business own- ers to understand and identify the best finance solution for their needs and includes toolswhichwill help you to check your financial readiness, get small business advice, learn about access to finance and find lenders. For more info visit www.sanews.gov. za/business/access-funds-small- business-click-away Budgeting and cash flow Well managed cash flow is the life- blood of the business and is impor- tant for survival. To ensure that there are sufficient resources to fund the business requires a budget, in order to understand the cash flowneeds. By committing to a budget the chances of success are far greater. Choose an easy-to-use system to help stay on top of cash flow. SMEasy offers an online accounting and small busi- ness management software package especially developed for start-ups. Marketing and advertising This play a huge role in ensuring the success of start-up businesses. Marketing, even if it is simply word of mouth advertising, is crucial to attract new business. Defining the brand (the services that are being offered) and also understanding the target market are very important. “Starting a new business is an exciting journey and as with any journey, there are often unexpected challenges to overcome. Give com- prehensive consideration to these five critical factors,” says Menzies, “to help you to plan for success and avoid failure. Success is where preparation meets opportunity.” ■

June 2016