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ENTREPRENEURSHIP. LEADERSHIP. BUSINESS
LEGAL ADVICE
FOR START-UPS IN SA
4
INSPIRING WOMEN
WHAT DOES IT TAKE TO MAKE IT?
Conversation with
EXCLUSIVE: United Arab Emirates, Dubai
RECOGNISING EXCELLENCE
PUBLISHING CREDITS
CONTENTS
CHIEF EDITOR Benito Mamaile editor@businessxposure.co.za
Elena Agaragimova Skills Trainer, Development Leader & Career Consultant Agar Consultancy - UAE, Dubai
EXPERT CONTRIBUTORS Morgen Moyo Isaac Ndhlebe Robert Wright Malethola Matube Jacques Loots Tefo Mothibeli PHOTOGRAPHERS Aviwe Media Photography DESIGNERS Jabu Mataboge LEGAL Loots Attorneys ACCOUNTS Istora Rapule accounts@businessxposure.co.za DISTRIBUTION Intellectual Media and Communications (Pty) Ltd PUBLISHED BY Intellectual Media and Communications (Pty) Ltd 81 Cassandra Avenue Bedworth Park 1939 Office Hotline
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HIGHLIGHTS Introduce Your Business Nationally
04
Conversation with Elena Agaragimova
05 - 07
Inspiration: What Does It Take to Make It?
08
IN THE KNOW
Cars: Arden hands Jaguar F-Pace some added attitude 20 Events: Africa Food & Drink Expo 2017 - Tanzania
21
Job Space: We Are Hiring
15 Disclaimer:
ARTICLES Editor’s Note
03
Golf & Personal Mystery: Focus on Being The Best Version of Yourself
11
Legal: SMME’s in SA – What You Need To Know
16
Money Matters
National Business Xposure and Intellectual Media and Communications considers its sources reliable and verifies as much data as possible. National Business Xposure (EAN 0 606110 895835). However, inaccuracies can occur, consequently readers using this information do so at their own risks. National Business Xposure does not accept responsibility for omissions or errors. the points of view expressed in articles by attributing writers and/or in advertisements included in this magazine do not necessarily represent those of the publisher. Any resemblance to real persons, living or dead is purely coincidental. Whilst every effort is made to ensure the accuracy of the information contained within this magazine, no legal responsibility will be accepted by the publishers for loss arising from use of this information published. All rights reserved. No part of this publication may be reproduced or stored in a retrievable system in any form or by any means without the prior written consent of the publisher.
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02
NOVEMBER 2017
RECOGNISING EXCELLENCE IN ENTREPRENEURS GLOBALLY Greetings and welcome to our November edition. It is our great pleasure to witness the continuing and growing positive reception of National Business Xposure Digital Magazine. Readers and advertisers have showered praises to the new kid on the block.
We acknowledge their commitment to our publication. As you will note, dear reader, National Business Xposure is also broadening its content offering beyond South Africa. Our focus this month showcases recognition of excellence and leadership in an entrepreneurial sphere across the globe. In this edition, we talk to Elena Agaragimova, the skills trainer, development leader and career consultant based in United Arab Emirates, Dubai.
Benito Mamaile, Chief Editor
I recently connected to her on a professional network platform. As an editor, I got impressed by her work which I found insightful and inspirational. On page five to seven of this issue, she highlights key strategies on how to be an effective entrepreneur. A few days ago Finance Minister Malusi Gigaba presented the medium-term budget statement showing slow economic growth projected at 0.7% for this year. The overall tone of the content of his speech should have left many South Africans depressed. Apart from R50n revenue collection shortfall, the rising debt levels are worrying. Our contributor Morgen Moyo shares his thoughts and opinion on the importance of where you should critically look at, if you ever hope to see growth in your financial health.
MORE ARTICLES
Prior to opening your business you need to familiarise yourself with the following in
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South Africa
With the ever growing number of newly registered companies in South Africa as recorded by Companies Intellectual Property Commission, Jacques Loots gives legal advice on what one should familiarise themselves with in order to remain on the right side of business in relation to labour laws, health and safety regulations and revenue services.
Enjoy the read.
03
NOVEMBER 2017
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COVER STORY
CONVERSATION WITH
Recognising Excellence By Benito Mamaile
I
recently connected to Elena Agaragimova on a professional networking platform. I enjoyed her work and kept following up with her updates. I easily related to her work which I found inspirational. We play in the same professional space. In recognising excellence around the globe, it is an honor to feature her in this edition of National Business Xposure.
Our readers, who have been waxing lyrical about you on social media, finally get a chance to get up close and personal with you. Who is Elena Agaragimova? I am a skilled trainer and development leader, with over 10 years of experience, credited with combining operations, education, and international expertise to design, market, and deliver programs for individuals or for diverse group audiences. I lived in Russia, the US, and now the United Arab Emirates. I bring the best of my experience with individuals from different backgrounds to my consulting practice. I am an experienced career consultant, currently working with senior managers and executives in various industries. I have a BA in International Relations & Political Science, as well as a MSc in International Leadership from Old Dominion University in the US. I am currently undertaking a Certificate of Business Excellence with Columbia Business School. Finally, I’m an ATD certified trainer and currently completing CIPD Level 5 L&D Certification. Benito Mamaile: What ignited the spark in you to start a business or to make significant changes in an existing business? How did the idea for your business come about? Elena Agaragimova: I always knew I wanted to do something on my own, but I was not sure what or when. One thing, however, I knew for sure. I wanted to work with people and thus, I have spent the last 10 years of my career working with people wearing various “work hats� (as a counselor, business consultant, mentor, and coach). My clients come from different age groups and backgrounds, starting with college age students and up to senior executives with 20 plus years of experience. I come across fascinating individuals who are experts in their fields, but they might be challenged by the lack of some soft skills which might hinder their career/professional growth. If you think about it there are very little soft skills trainings incorporated into school, college, and work communities and this is more true in some regions versus others. This inspired me to offer workshops and trainings focusing on personal development and soft skills training using various tools. We deliver the trainings via webinars and face to face workshops. We incorporate the most recent research, literature, knowledge, and tools into our trainings and create customized programs for individuals and groups.
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BM: How has your background influenced who you are today? EA: I was fortunate to live on 3 different continents in my life so far and thus gathering wide perspective of cultures, ways of living, and deeper understanding of people from different backgrounds. It exposed me to different perspectives and ultimately made me realize that although we can grow up in very different settings, but at the end we, as people, are more alike than different. In my work as a performance consultant and having a business that is about people and helping them be the best versions of themselves, I see this very often no matter who my client is. Although each client is unique in his or her own way, ultimately we are all aiming for the same things in life which is happiness, doing something we love, being better than we were yesterday, contributing to society, and reaching success as we each define it. BM: Did you ever deal with contention from your family concerning your entrepreneurial pursuits? How did you handle it? What would you do differently in hindsight? EA: I come from a family of entrepreneurs. My father is a business owner and I learned a great deal from him about doing business and building relationships with partners and clients. Both of my parents and siblings are quite supportive and my siblings are likely to join the business in the future and potentially expand in other parts of the world. Thus, I cannot say I came across any challenges in this area. 05
NOVEMBER 2017
COVER STORY
I think what makes a “ successful entrepreneur is
the ability to adjust, reset, and be flexible in the business as many times as needed.
“
BM: How do you believe evolving technology will impact the way we do business over the next 10 years? EA: We can already see this happening across all businesses; the working day, the way that we work, and the human capital as we know it is changing drastically; many people are being replaced by automation and other technologies. That doesn’t necessarily mean that it is a negative sign, it just means that people need to ensure that they stay up to date on what is happening in their industries and roles, what is the next big technological advancement that will impact one’s industry, what are you doing to prepare, etc. In addition, what are we, as society, doing to prepare the next generation for the jobs of the future that do not even exist yet? These are the types of questions I would reflect on from time to time as an individual and a business.
BM: What is the biggest mistake you’ve made as an entrepreneur?
EA: Mistakes are just different ways of learning and doing things. One thing is for certain in business - things tend to go differently than from what you expected; sometimes better and sometimes worse, much worse. If I had to choose one instance where I wish I would have done things differently, it would knowing who to go into business with. As a mentor of mine said one time, a window of opportunity will open but you need to identify if you can fit into that window or is it better to pass on the opportunity. BM: What is the toughest decision you had to make in the last few months?
EA: Choosing the right partner to take the business to the next level is probably one of the toughest decisions thus far. A partner can either make or break your business so choosing the right person is vital and the relationship needs to be complimentary and added value from both sides. BM: What do you know today that you wish you would have known when you first got started as an entrepreneur? EA: Don’t be afraid to ask for help and to delegate some work where applicable. It is difficult to do everything on your own and you don’t have to. Also, don’t be too harsh on yourself and see challenges as opportunities.
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BM: Do you believe there is some sort of pattern or formula to becoming a successful entrepreneur? EA: I think what makes a successful entrepreneur is the ability to adjust, reset, and be flexible in the business as many times as needed. Business is never easy or nor does it go as planned so the ability to pick yourself up from a failure or bumps in the road is vital. BM: What are your thoughts on the current business landscape in United Arab Emirates compare to South Africa, or Africa as a continent? EA: I cannot speak on the business landscape in Africa, but in the UAE the opportunities and overall business landscape are quite positive and this region is quite dynamic in general. GCC overall has a majority young population and young cities with lots of potential and substantial support from private and public sectors. In addition, with the Expo 2020 around the corner, those opportunities for business will also increase in many sectors. BM: Excluding yours, what company or business do you admire the most? EA: In the UAE in particular, there are several starts up that are innovative and disruptive or introduce new ways of thinking and doing things. One of the recently discovered starts up is a digital platform called NewShifts.com which is a new networking platform for experienced professionals who are looking to explore a change and startup/small medium businesses who normally cannot find or afford them. What they do is, matching them to take part in temporary engagements forming a mutual benefit relationship, build on exchanging experience and exposure that are otherwise out of their reach. The concept is very interesting and I see many of my clients benefit from the platform in recent months, which brought my attention to it.
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NOVEMBER 2017
COVER STORY
Address Business Bay, Dubai Email elena@agarconsultancy.com
Elena Agaragimova
BM: Which 3 books would you recommend that every entrepreneur read? There are so many great books beneficial for entrepreneurs, but if I had to choose 3, they would be the following: • • •
Never Eat Alone by Keith Ferrazzi Breaking the Habit of Being Yourself by Dr. Joe Dispenza How to Win Friends and Influence People by Dale Carnegie
BM: Have you ever been to South Africa, if not - do you ever plan to come in future and do you see yourself doing business here? EA: I have never been to SA but it is definitely on my list of places to visit. I think that if there is a potential opportunity to expand the business there, then it would definitely be considered.
BM: What are some strategies that you would recommend for making the best use of one’s time? EA: Prioritize. I think it is easy to be busy but are you being productive? That is what I ask myself each day. I am a morning person by nature (I start my day at 5am) so I know that my most creative mind is best used in the morning so I leave the morning for important work and decisions that need my best decision making mind. Meetings I usually leave for afternoon or evenings. I would also recommend writing a list of goals for each day, week, month, etc. But do so in a realistic and measurable way; otherwise, that can backfire and become overwhelming instead of helpful. BM: Has your gender ever influenced the way you do business, or have been perceived? EA: I think the way is business is done is very individual, regardless of being a man or a woman. I think men and women process information differently and perhaps attend to business matters using slightly different approaches, but overall business is business.
BM: How did you decide on the location for your business? EA: I came to Dubai in 2014 for personal reasons but quickly realized that UAE is a place where entrepreneurship is very much supported. Dubai in itself is a hub for business opportunities with lots of support from the government. For example, there are several incubators and business accelerators available around the city for different businesses. Organizations such as Dubai Chamber of Commerce and Industry and Dubai SME, both of which provide resources and tools for startup and entrepreneurs to support them in various ways; anything from mentoring to funding to scaling up business. Regulations also make it quite easy and safe to start a business in Dubai.
BM: Any advice for aspiring women entrepreneurs around the world? EA: Just take the first step, the rest is merely tenacity. Believe in yourself. And get yourself a mentor, a business/career coach, and a therapist; the value of having these 3 (or more) people in your life will make a huge difference in how you approach business and life in general, especially in hard times. Thank you for your time, our readers will learn a lot from the story you’ve shared with them. Looking forward to your future articles with us.
BM: In one word, characterize your life as an entrepreneur. EA: Unpredictable.
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NOVEMBER 2017
I NSPIRING WOMEN ON SUCCESS & CHALLENGES! A recently released Female Entrepreneurship Index by Global Entrepreneurship Monitor which looked at how 77 countries across the world are fostering women entrepreneurship, found that South Africa is ahead of other African countries when is came to giving support to women in business - countries were evaluated according to entrepreneurial environment, the ecosystem, and aspirations. Although more women are taking the leap into going into business, there are still challenges. Here are their thoughts on what it takes to make it, overcoming challenges and building the world's next generation of women business leaders. By Refilwe Kgosiemang, SME South Africa
Phuti Mahanyele Former Chief Executive Officer of the Shanduka Group, one of South Africa’s largest investment holding companies. "When going into business – you should view yourself as a business person – people treat you the way you treat yourself. If you come in feeling at a disadvantage – you are already at a disadvantage.“ Source: Forbes Africa
Uche Pedro Founder an managing director of BellaNaija, an online media company that develops and delivers online content aimed at Nigerian and Pan-African audiences.
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"If you stand for nothing, you’ll fall for everything .... What I write is instinctively positive ... It irritates me that people criticize but don’t do anything" Source: Lioness of Africa
Bethlehem Tilahun Alemu Founder and managing director of soleRebels, the world's fastest-growing African footwear brand. "soleRebels is living proof that creating innovative world class products and trading them with the world is the best road to greater shared prosperity for developing nations like ours!" Source: soleRebels website
Melinda Gates Co-founder of the Bill & Melinda Gates Foundation "If you are successful, it is because somewhere, sometime, someone gave you a life or an idea that started you in the right direction. Remember also that you are indebted to life until you help some less fortunate person, just as you were helped" Source: The Legacy Project
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NOVEMBER 2017
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Danville Social Housing
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The core business model of Gamont Housing SA is the servicing and building of low cost Housing within South Africa. Since 2004 Gamont Housing SA has completed in excess 100 000 units in the South African Housing industry. Projects range from RDP social housing to bigger Bonded Housing in disadvantaged communities. Gamont Housing SA has experience in the following areas of Housing Development.
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“ A multi-award winning and highly certified company � Since its inception Gamont Housing SA has been awarded numerous awards of excellence.
Best Developer in Gauteng in 2008 Best Priority Project Award (Provincial and National) in 2013
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SA Construction Awards - Employer of the Year in 2016
Govan Mbeki Awards - Best Informal Settlement upgrading Project in 2016
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Golf & Personal mastery
FOCUS ON BEING THE BEST VERSION OF YOURSELF Malethola Matube Progressive Women In Golf In the second edition of National Business Xposure Digital Magazine we shared with you the ten benefits of golf, followed by Personal Mastery & Golf, then the third edition featured Conversation with Malethola Matube: Founder of Progressive Women In Golf. In the fourth edition including other upcoming editions we will share what expects say about golf as we travel the journey to self mastery through golf. At some point in life, most people have watched or played a game of golf. There is no competition in golf; the person you play against is yourself. There could be a million players and it need not matter, they can’t interfere with you and you can’t interfere with them. Inner drive, dedication to improving technique, practice, visualization and learning... By the time the golf ball gets hit down the fairway, the match can be won or lost, primarily because golf is like life; a game of preparation, a game of the mind. Like a pro-golfer, your mind will not be focusing or dependent on what other people are doing or saying to or about you in or before the moment of action, because the professional- mind chooses to keep focusing on the most important thing - the moment. In fact, mastering the moment is self mastery for/ in that moment. There is no competition when you simply focus on being the best version of yourself. So if this is true, who is your greatest competition if it is not you? Why take such a simplistic approach? When “people, places and things” cannot be blamed for one’s performance, there is no one, and no-thing to blame. Whatever the challenge you face, the problem or the solution is tackled by your present capabilities, (in that moment) .
If life were a competition then it would be a competition of “self - mastery”. Know your weaknesses and improve through focusing on what you want to achieve. Know your strengths and develop them to provide you with the necessary ability and state of mind to experience the success you desire.
when you quit doing “ Failure onlytheoccurs next right thing
“
Being able to be the best version of yourself requires self - discipline. The purpose of self discipline is to create the balance required to put enough energy into what you hope to achieve. If you fall short from time to time, does self criticism provide you with the positive emotional bounce to come back as a stronger, healthier and better energized person? What is the opposite of self criticism? Now do you realize that you have the answer to achieving personal mastery? (If not, please read the last paragraph and question again). Your ability to more objectively consider and keep a positively focused score card on areas for improvement means that you will be acting with balanced intent. You will know what you are aiming to improve, you will know when you have achieved it and how. You will then be able to use this feedback to improve further, if you are choosing to.
Failure is rarely a “one off event”, more likely it is the result of consistent, undisciplined mental action which creates a set of undesirable results. What winners are doing is identifying what they hope to achieve and then working towards their goals with intention, focus and flexibility. “Failure only occurs when you quit doing the next right thing”. In life, true accomplishment is achieved from the power and desire within you to “take massive action”. “Be the change you want to see in the world” through doing small things right, and the bigger things may naturally follow. Please remember, no-thing in life is guaranteed, doing the right thing regardless of this is quite literally a key to happiness... because happiness stems from fulfillment, so find fulfillment in the journey, master the moment and you will have mastered yourself - as a result you will more likely master your challenge. Written by Robert Wright New Business - Strategy & Tactics WWW.BUSINESSXPOSURE.CO.ZA
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NOVEMBER 2017
Explore. Create. Inspire
• • • • • •
MONEY MATTERS
YOUR MEDIUM-TERM BUDGET By Morgen Moyo POLICY STATEMENT “O ne
has to establish a view about where the statistics are leading. One has to anticipate an uncertain future. Gut feelings and experience play a considerable role.” Professor Charles Goodhart
You need to take a critical look at your finances if you ever hope to see progress in that area of your life. And further, taking corrective action where there have been deviations. It is one thing to place blame but you just have to honor up and avoid using hope as your only strategy.
A few days ago the Minister of Finance presented the medium-term budget statement highlighting the state of our national financial health. This is what I seemed to have picked up;
WHERE TO BEGIN?
Slow economic growth projected at 0.7% for this year
“There are only three rules on investing: first, never lose any money, second, never lose any money, and third, never lose money.” Warren Buffett
• • • • •
High debt ratios High cost of debt servicing Widening budget deficit Likelihood of higher borrowing costs should we borrow Revenue shortfall of R50.8 billion
You don’t need to be an economist to see the writing on the wall. Borrowing is not likely to be the option but tax increases may be one strong option to try and get us out of this hole. The exchange rate to the dollar moved negatively breaking the R14.00 barrier. The fuel prices are set to increase because we pay in dollars for the fuel. The costs for our overall imports will rise. In that one moment so many things changed further eroding our individual financial positions. After all, some had predicted that the Minister was caught between a rock and a hard surface. The picture painted by our Minister of Finance in simple terms is that we are in trouble as a country from a financial stand point. ‘Family’ jewels will need to be sold to cover some pressing issues with our State Owned Enterprises. If this action is not taken the current loans can be called up and this would lead to financial suicide. But what does this all mean? What is the effect of this on you and your family?
Unfortunately, there are no short cuts to wealth creation. It is all about learning and applying lessons learned. Read autobiographies, books on investments, seek advice and so on. Start planning your financial future and ask yourself the hard questions. What if you lose your job? Despite the fact that you may be contributing towards a pension fund, you still owe it to yourself and your loved ones to build a cash cushion. Within your limited means start small and keep at it. If a windfall comes your way, take it as a bonus. If you can only afford a few hundred rand, so be it, you may be pleasantly surprised when the money magic starts playing in your favor. INVEST IN YOURSELF ‘Formal education will make you a living, self-education will earn you a fortune.’ Jim Rohn There is no point in jumping out of bed and saying you are going to start investing. Rather leave the money in the bank and start learning about the world of investments. Even if it takes you a while to have a full grasp of the investment world, you would have made progress.
READER’S OWN INC Imagine for a moment that today is your turn to stand up and give a medium-term financial statement to your loved ones. Along the lines of what was presented to us how have you done? No blame game let us have facts and figures. • • • • •
How much money have you saved up to now? What investments have you taken up? How have those investments performed and why? Are you on course with your financial goals? How are your debt levels and relevant costs?
It may be argued that one can approach professionals to handle your money, this is still an option but there is a lot that you can do on your own. As usual, I highly recommend that you approach a registered financial advisor prior to plunging into investment products. Financial advisors will look at your current financial state and recommend the types of investments to suite your circumstances. Your age, income, debts, risk appetite are just but a few factors to be considered.
Through this link, you may find a financial advisor: www.fpi.co.za
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NOVEMBER 2017
MONEY MATTERS MANAGING YOUR MONEY
Whilst I have not played golf for a little while but I discovered that like any sport you need to spend a lot of time practicing. I would spend countless hours practicing chipping, putting and my long shots so as to improve my game. The more I practiced, the better my game became. Money management is no different. It is one thing to read a book and you learn about a ‘stop loss’ and so on, this becomes meaningless until you start using it. It is one thing to surrender your money to the experts but I believe that with the right attitude and knowledge base you can do an excellent job for yourself. Money management is a skill and like any other skill it can be learned. GROWTH LEVELS “Compound interest is the eighth wonder of the world. He, who understands it, earns it … He who doesn’t … pays it.” Albert Einstein You need to ascertain whether you are growing financially or declining. Your yearly wealth check may be ideal to give you an indication. This is why it is necessary to know where you were at the beginning of the year and where you are now financially. How is the performance of your investments? How are your income levels and can you create another income stream ? Ascertain the areas that can do with some improvements. Avoid changing your investments too often and allow the compounding effect to manifest itself.
continued from previous page
by Morgen Moyo
HIGH DEBT LEVELS “When you find yourself in a hole, quit digging.” Will Rodgers What is your level of indebtedness? Just like the Minister’s medium-term budget policy statement, you need to establish what your debt level is. From the beginning of the year how have you performed on the repayments of your debts? Is there a reduction or an increase on your debt levels? There is obviously good and bad debt. Your mortgage and car loan may be necessary but clothing, cell phones, credit cards etc may need a closer look. For some people debt has become a way of funding their lifestyles and this is not good for your financial health. Start managing your debts and where possible increase your repayments to clear them in a shorter period. Depending on your situation you may find it necessary to do away with some of the family ‘silver’ to stabilize your finances. Take a critical assessment of your debt position and take corrective action. Tough times are on the horizon, stop pilling up on credit. DEBT SERVICING What is the level of your debt servicing? Some people get grumpy when pay day approaches due to the string of debit orders that hit their bank accounts. Only to realize that the account balance is barely able to see them through until month end. It is for this reason that a lot of people end up turning to credit card debt and micro lenders thereby increasing their level of indebtedness without forethought. CONCLUSION My simple message today is that you must take charge of your financial future. Develop your investment plan and stay on track. Learn as much as you can about money and investing, seek out like-minded people, attend seminars, read books and at best start taking those baby steps. You are responsible for your financial freedom.
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NOVEMBER 2017
Job space
WE’RE LOOKING FOR RESULTS-DRIVEN SALES AGENTS IN EACH PROVINCE BRILLIANT COMMISSION, WE GIVE YOU UNCAPPED EARNING POTENTIAL. BONUSES WHEN EXCEEDING TARGETS What we provide •
Full in-house product training
Responsibilities • • • • • • • • • •
Present, promote and sell products/services using solid arguments to prospective customers Perform cost-benefit and needs analysis of existing/potential customers to meet their needs Establish, develop and maintain positive business and customer relationships Reach out to customer leads through cold calling Expedite the resolution of customer problems and complaints to maximize satisfaction Achieve agreed upon sales targets and outcomes within schedule Analyze the territory/market’s potential, track sales and status reports Supply management with reports on customer needs, problems, interests and potential for new products. Keep abreast of best practices and promotional trends Continuously improve through feedback
Requirements • • • • • • •
Proven work experience as a Sales Representative Familiar with CRM practices along with ability to build productive business professional relationships Highly motivated and target driven with a proven track record in sales Excellent selling, communication and negotiation skills Prioritizing, time management and organizational skills Ability to create and deliver presentations tailored to the audience needs Relationship management skills and openness to feedback
Successful applicants must have the following: • • • • • •
Completed Matric or equivalent Relevant qualifications in sales will be essential Minimum 2 years work experience Fully bilingual in English and Afrikaans Clear criminal record Own car will be essential as well
Send your CV to vacancy@businessxposure.co.za or fax to 086 597 9601 WWW.BUSINESSXPOSURE.CO.ZA
15
NOVEMBER 2017
LEGAL By Jacques Loots
Loots Attorneys
Prior to opening your business you need to familiarise yourself with the following in
An Admitted Attorney
South Africa Lease Agreement
TAX/VAT Registration with SARS After deciding which form of business enterprise you will be utilizing, it is imperative that you start with your registration at the South African Revenue Services (SARS). TAX/VAT numbers are necessary for tenders and contracts with public companies, state organs or larger companies. Registration for VAT is only necessary if the business generates a turnover of more than R 1 000 000.00. If you are a sole proprietary make sure that you register with SARS for provisional tax Labour Laws Know the Basic Conditions of Employment Act as this governs the relationship between the employer and employee. This will give you guidelines with regards to working hours, overtime, annual leave, sick leave disciplinary procedures etc. Failure to abide by the minimum requirements in this act may have a detrimental effect on you as employer.
You need to register and contribute towards the Unemployment Insurance Act for all employees. Failure to do register employees and keep the records up to date may result in penalties Health and Safety Regulations Know the Occupational Health and Safety Act as it gives workers a range of rights with regards to their health and safety in the workplace and provides guidelines with regards to workplace safety. Municipal Bylaws Do research into the municipal bylaws in the area where you plan to operate your business to ensure that you do not encounter issues with regards to the zoning, noise levels and hygiene requirements for your business.
Consumer Protection Act Consumer rights are protected by the Consumer Protection Act (CPA) and it is therefore imperative that business owners familiarise themselves with the content thereof. The CPA governs advertisement of goods and services, structure of contracts with customers, handling of customer data, dealing with merchandise returned under warranty etc.
When starting your business and starting operations, you will undoubtedly need to enter into contracts. Here is a list of contracts you may encounter and some pitfalls to look out for:
•
•
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Make sure that the property you are renting is correctly zoned for the purposes. Ensure that the purpose that you are renting the property for is mentioned in the agreement in order to prevent future disagreements. In the event that the property is damaged to such an extent that you will not be able to utilize it for the specific purpose that you rented it for you may terminate the lease agreement. Make sure that the lease agreement makes provision for the erecting of signage for your business on the premises. If you are not allowed to erect the signage to make your business visible it will have a detrimental effect on your business. Verify the yearly escalation on the monthly rental in order to prevent nasty surprises
Credit Agreements with Suppliers Most companies who supply goods or services on credit will require you to sign an application for credit. This will in most circumstances include a surety clause wherein the members, directors, partners or owners of the company applying for credit accepts liability for the debt of the company in the event of the company failing to meet its obligations. Credit Agreement with Clients In a perfect world clients would all be able to pay cash for goods or services but this is unfortunately not the case and the need for credit facilities may arise. In the event that you need to supply goods and services to clients, ensure that the client signs an applicable credit agreement. It is also advisable to do the necessary credit risk assessment before extending credit to clients. Ask clients to supply you with references of other suppliers where they have credit facilities and contact them to confirm the account limit, status, payment terms and payment history. Remember that the permission of clients have to be obtained if you want to do a credit check at any of the registered credit bureaus. Remember that it is much cheaper to pay your attorney to have a look at a contract than to fight a dragged out legal battle due to a clause in a contract that you understood incorrectly. As they say, “prevention is better that cure”. Opening a new business can be one of the most exciting and scariest experiences that you may encounter but if you have the basics right you can eliminate some of the fear. Surround yourself with people you can trust and that have the necessary knowledge and experience to pass on to you. As Colin Powell said: “There are no secrets to success. It is the result of preparation, hard work and learning from failure”.
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17
NOVEMBER 2017
COACHING
By Isaac Ndhlebe Coach & Mentor
A “NO” well said in a second will save you a lifetime full of misery and regrets! The season for festivities is here again! People often travel and visit around unnecessarily; they spend their hard-earned money imprudently; they find themselves entering into unhealthy relationships; recklessness in general is the order of the season; negligence, immoral behavior, irresponsibly getting themselves indebted, etc. Most of which is as the result of not being able to say No!
Saying “NO” You’ve made the decision, after scientifically weighing the results of your cost/benefit analysis. Do honestly say “NO”. If you are serious about saying “NO” then stick to your guns.
We pray: “…lead us not into temptation…” so that we can lead ourselves and others into many temptations!
Tell the individual making the request that you would appreciate it if they respected your wishes, and ask them to refrain from pursuing it further. If you are comfortable expressing your “reasons why” then do so speaking from your personal perspective.
Here’s a small, precise and dynamic compass: a “NO” well said in a second will save you a lifetime full of misery and regrets!
Tips on how to say your “NO!”
Learn to say NO to misbehavior Learn to say NO to misleading friends Learn to say NO to misdirected courses
1. The apologetic NO
This article is written to coach you on ideas you can use to make sure you don’t find yourself doing something you’d very much prefer not to do.
Saying NO in a quiet, unassuming voice is like a hand shake that is floppy and limp.
Perhaps we should start off by asking this pertinent question:
By saying NO in a non-confident manner it will make you feel as though you have to convince the other person about your decision and the reasons why you have said it!
Is it your inclination to say yes, even though there’s a voice deep down saying no? Well, let’s raise the volume on that voice.
If you are going to say NO, you must say it in a way that means NO!
2. The angry NO
What possible reasons could there be for saying no?
This is at the other end of the spectrum in how to say NO. It is done in an aggressive manner and usually said with contempt. It is not an effective way to communicate your NO.
• • •
Here are a couple of examples:
It’s beyond your means? It’s beyond your comfort level? You have no interest?
Identify all the reasons you have for saying “no.” Identify which stem from a lack of confidence, versus a sincere disinterest in fulfilling the request. What would happen if you said yes? Perhaps: • • •
You would be considered a team player It would make your boss happy Your visibility with higher-ups would be improved
“NO. I’m not doing that rubbish. You’ve got to be joking aren’t you” “NO. I wouldn’t lower myself to do that piece of work” 3. The assertive NO This is the best way to say NO! In a firm, yet polite voice say: “No. I will not be able to do that for you” Also, if you want to say the reasons why, keep it short and sweet.
“No. I will not be able to do that for you. I will be busy at that time”
It comes down to a simple cost/benefit reality:
4. Use effective body language
Would the discomfort involved in saying yes outweigh the benefits of possibly going along with the request?
When saying NO remember the power of non-verbal communications. Look the person in the eye when you say the NO. Shake your head at the same time as saying NO. Stand up tall.
Or, do the benefits outweigh your temporary discomforts? The role of guilt Saying “no” is hard for many of us. Guilt often comes into play. Whether this guilt has its foundation in religion, a proper upbringing, or a worldview that simply says “it’s not nice to say no”, we often recognize it and make decisions we’d rather not be making, based on it. WWW.BUSINESSXPOSURE.CO.ZA
Use a firm tone in your voice. 5. When all is said and done Don’t forget that when anyone asks a question of you, you are perfectly OK to say, “Can I think about that and get back to you” No-one should be pressurized into giving an immediate answer, even if the delay is only a couple of minutes. It will give you some time to think it through and to gather your thoughts. 18
NOVEMBER 2017
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AUTOMOTIVE
By Nikesh Kooverjee
ARDEN HANDS THE JAGUAR F-PACE SOME ADDED ATTITUDE
Audi Reveals Lighter Carbon Edition RS4, RS5 Variants Source: http://www.carmag.co.za
Currently, the hottest F-Pace offered by Jaguar is the 280 kW 35t S variant, which draws its urge from the British brand’s familiar supercharged 3,0-litre V6. For those who want a bit more oomph, German tuner Arden has provided a solution (that can be applied to most of the rest of the F-Pace range, too).
Visually, there are a couple of slight changes that have been made, including the addition of a new handcrafted stainless steel grille, a stainless steel exhaust system, a fresh front spoiler and a new rear bumper insert. To make the SUV appear wider still, the tuner has fitted spacers to the front and rear axles. Changes to the interior are a bit more subtle. The steering wheel, for instance, has been reupholstered using leather and Alcantara, while the pedals have been upgraded to an aluminium set. A set of handcrafted floor mats and a new 13-speaker system complete the premium overhaul. As an option, however, the tuner will reupholster and trim much of the cabin with leather, Alcantara and carbon-fibre. So, what about that extra oomph? Well, there are power upgrades for three engines in the range. The first of these is the 2,0-litre four-cylinder turbodiesel 20d, which gains 26 kW and 70 N.m (for peak outputs of 159 kW and 500 N.m). Secondly, there is the 3,0-litre turbodiesel V6 30d, which is bumped up by 30 kW and 100 N.m of torque to 251 kW and 800 N.m. Lastly, of course, is the aforementioned 35t, which has been hiked to 306 kW and 520 N.m of torque (up 26 kW and 70N.m). Arden also offers an active sound system that gives the F-Pace a note that’s apparently comparable to a V8. We’ll have to take their word for it… WWW.BUSINESSXPOSURE.CO.ZA
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NOVEMBER 2017
Date Venue
| 17 Nov - 18 Nov 2017 | Mwalimu Julius Nyerere International Convention Centre Dar Es Salaam, Tanzania
ABOUT EAST AFRICA FOOD AND DRINKS EXPO 2017 Food is the heaven of Human Being” Chines say. EAC is blessed with varieties of food and drinks which include both traditional and processed ones. EAC Africa Food and drinks EXPO 2017 intend to promote African (made in Arica especially in EA) food and drinks in the region which has over 150 million population. East Africa Food and drinks expo 2017 will be platform which will bring together both consumers/buyers and suppliers/sellers. The event will include varieties of food and drinks as listed below; Bakery, Health Food, Wine, Spirits and Beer, Hot & Cold Beverages, Beverages & Drinks, Ingredients / Essences, Chilled & Frozen Foods, Sauces, Confectionery/ Sweets, Snacks / Ice Cream, Canned Food, Soft Drinks, Dairy Products, Specialty / Fine Foods, Ethnic Food, Tea & Coffee, Food Ingredients, Wine, Sprits & Beer, Fresh Produce, Gourmet Food We expect at least 1500 participants will attend the East Africa Food and drinks expo 2017. These will include consumers, food and drinks suppliers and decision makers and more specifically;
Specialty food retailers - farm shops/delicatessens/bakers/butchers Supermarkets/food halls Café's/coffee shops/tea rooms Restaurants - Michelin Star/chains/independent Pubs/bars/hotels Manufacturers Wholesale/cash & carry
WHY SHOULD YOU ATTEND? East Africa Food and drinks expo 2017 will provide a platform for advertising, branding and creating awareness about African food and drinks. The platform will be used to promote clients’ product or service to a broader group that may have little or no knowledge of your products and services. It will also help exhibitors to do business face to face
To secure the best possible position at expo, please contact: Exhibition Manager Mikono Speakers Ltd Email: sales@mikonospeakers.com
FOR INTERNATIONAL VISITORS We will accommodate international visitors at 5 Star Hotels in Dar es salaam or at places that they will find more comfortable and affordable. We will be proactive to communicate with our visitors and get understanding on their needs and requirements before they arrive. We have experience in accommodating international speakers like Brian Tracy and others. So, we assure our visitors to have a decent accommodation based on their needs and affordability. Source: Mikono Expo Group https://http://www.foodanddrinks.mikonoexpogroup.com WWW.BUSINESSXPOSURE.CO.ZA
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NOVEMBER 2017