Financier gives tips for first-time entrepreneurs

Johannesburg - Indications are that women are making their mark in South Africa’s competitive small business arena; and subSaharan Africa currently has the highest growth rate in female-run businesses in the world.

Area manager at South African small and medium enterprise (SME) financier, Business Partners Limited, Janeesha Regubeer says: “There are ways to work around lack of funding by consolidating your resources, analysing your skillset and finding a niche market, or a unique challenge you can solve.”

She explores business idea options that aspiring women entrepreneurs can use to kickstart their journey.

According to the SA Social Media Landscape 2022 study by World Wide Worx, just under 50% of adult South Africans accessed a social network in 2021, with the most popular platforms being Facebook, Twitter, Instagram and TikTok.

“There are three major components of social media marketing; content creation, paid advertising and community management. The best part about building a social media management business is that all these components require little formal training,” Regubeer says.

Many social media networks have content creation suites, so even amateurs can create videos and digital content.

Advertising on social media is intuitive, and there are online tutorials that can guide through the process.

Regubeer adds that e-commerce in South Africa has been on a steady incline over the last decade and experienced a boom during the pandemic years.

“With social media channels introducing native platforms and functions that allow shoppers to buy products and services online, the digital shopping landscape is evolving,” she says.

The social commerce trend has many entrepreneurs selling vintage and second-hand clothing on social media.

“If you have a background in fashion design or an eye for fashion, this is the space to be in. You could set up an online boutique offering a mix of vintage and new fashion, supported by engaging social media content. Promoting and selling sustainable fashion also presents a great opportunity to help shape the fashion industry of the future. If you’re digitally savvy and looking to build a business that will allow you to work from anywhere in the world, affiliate marketing may be the answer. Affiliates are usually online users who own digital real estate in the form of a blog or a social media profile with a following that is of interest to niche brands,” says Regubeer.

She adds that an affiliate partners with a brand or business and adds links and advertisements to their website or social media profile that advertise a product or service. If a user clicks on the link and makes a purchase on a partner’s website, you will be paid a portion of the proceeds.

“If you are a health fundi, you could collaborate with healthy food brands, supplement vendors and sportswear brands. And if beauty is your thing you could partner with skincare and makeup brands to increase their market share. As marketers claim, affiliate marketing is a great way to make money while you sleep,” Regubeer says.