BBBEE (Broad Based Black Economic Empowerment) is the term used to define the South African post-apartheid government’s policy approach to business ownership and management in order to address historical disadvantage of black people as a result of Apartheid. BEE (Black Economic Empowerment) is the broad idea of the policy and BBBEE is the implementation
When applying for a business loan, it is important to understand what types of loans are available, and which loan is the perfect fit for your business and your business strategy. Remember, a business loan becomes a liability (something to pay off), so it should always be a last resort - if your business
A trade mark, generally speaking, is any mark used, or proposed to be used, to identify goods or services, and to distinguish those goods and services from similar kinds of products or marks within the industry. A ‘mark’ can be any sign that can be represented graphically, including a device, name, signature, word, letter,
A patent provides the right to exclude others from making, using, selling, offering for sale, or importing the patented invention for the term of the patent. A patent is a limited property right the government gives inventors in exchange for their agreement to share details of their inventions with the public. Like any other
The South African economy is highlighted as a fast-growing and diverse economy in Africa, known for its multi-sector growth and political stability. Since the COVID-19 pandemic, much has changed and new opportunities for growth have risen in the markets. There are new emerging industries which are rapidly growing, presenting new opportunities for entrepreneurs. South
Business ethics is a discipline on its own which branches into many different sub-disciplines. At its core, it refers to the principles and values which act as guidelines for how one conducts business. This branches into how one makes decisions, what products or services you choose to use, how you treat your staff, and
If you’re an aspiring entrepreneur or just anyone who follows the news now and then, you would surely have come across the term ‘’start-up’’ and ‘’small to medium enterprise’’ (SME). Essentially, start-ups and SMEs are both approaches and arguably models which you can use for your business, with different defining characteristics. The approach can
Quotations and invoicing is an essential part of your financial business administration, and the more formal your records from the beginning, the better for you. It is always good to have any type of contract, agreement or transaction in writing. A business exchange is an agreement between two parties. The customer agrees to pay
Opening a business bank account is an important step when starting a sustainable business which you hope to grow sustainably over time. If you have a side hustle or have just started your business, you might think that this is complicated by administration and extra bank charges. However, there are great benefits to having
Technology has made it easier than ever to minimise your financial administration for your business. Remember going to markets, and not having enough cash on you to buy that item you really wanted? There were no ‘’cashless’’ purchases. Now, you don’t need to be a huge retail store to have a card machine at
