Pietermaritzburg Chamber of Business
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THE ENTREPRENEUR PIETERMARITZBURG 2014
A competition for budding entrepreneurs with total prizes to the value of R500 000 to be won in training, mentorship, advertising and cash. Entries close on the 12 September 2014. For an entry form click here.
POOR BUSINESS PLANS, CREDIT RECORDS IMPAIR FUNDING APPLICATIONS
Tavern owners and small construction business owners in northern KZN were schooled in the fundamentals of running a successful enterprise at a one-day workshop in Dundee. The initiative under the auspices of the KwaZulu-Natal Financial Literacy Association addressed matters directly pertaining to procuring finance, and applicants’ standing with a bank. KZNFLA chair Artwell Hlengwa said the credit record of applicants is a critical factor when applying for finance. Below are some of the common mistakes applicants make in their business plans.
- Financials show immediate profits when in reality profits take about six to 18 months to be achieved;
- Financials often do not show a salary for the people running the business.
- Sales are not reflected on a monthly basis but only on an annual basis.
- Monthly sales do not indicate the impact of seasonal trends. This oversight highlights a lack of market understanding;
- No split between debtor sales and cash sales, no indication of debtor payment days;
- Sales take time to ramp up and they cannot show the business achieving immediate sales.
MAINTENANCE ON SUB-STATIONS MEANS POWER CUTS IN CITY
Ongoing maintenance of the city’s electrical supply sub-stations is underway, meaning a power cut of a few hours. Notices to this effect are dropped off in post boxes, and today and tomorrow it’s the turn of the Roberts Road and Clarendon area. To see the full schedule click here.
SOCIAL INNOVATION FINALISTS IN RUNNING FOR ZAR1MILLION
The South African Breweries Foundation has selected the finalists in its 4th annual Social Innovation Awards 2014 who will compete for the ZAR1m first place prize. The pro-poor innovations range from products and processes, which are selected according to whether they are scalable and can be commercialised. Each must also benefit the SAB Foundation's target beneficiaries who are women, youth, people living with disabilities and people living in rural areas. Other prizes include ZAR500 000 for the runner-up and ZAR300 000 (third place) and several seed grants of between ZAR100 000 and ZAR150 000 deserving innovations finalists. In total, 18 finalists are in the running. Read more.
CALL FOR NOMINATIONS: NATIONAL SKILLS AUTHORITY BOARD
Please find attached letter from Hon Dr BE Nzimande, MP, Minister of Higher Education and Training addressed to Nedlac, calling for nomination for Constituency representatives to the National Skills Authority Board. The National Skills Authority (NSA) is a statutory body that was first established in 1999 in terms of Chapter 2 of the Skills Development Act, 1998 (SDA). The NSA’s third term ended on 30 June 2014. BUSA has been invited to nominate five (5) representatives to serve on the Board for a period of five (5) years in terms of the SDA as amended or until operationalization of the NSA mandate as per the White Paper for Post School Education and Training. Kindly forward the nominations to email@example.com by close of business on Thursday 21st August, 2014.
SYMPOSIUM ON RESEARCH & EVIDENCE-BASED DECISION MAKING
The Office of the Premier and Statistics South Africa invite you to the 2nd ISIbalo Symposium on Research and Evidence-Based Decision Making. This year the theme of the conference is statistical evidence in support of development in KwaZulu-Natal, with specific focus on the KwaZulu-Natal government priorities. More information.
The Pietermaritzburg Chamber of Business (PCB) was constituted in August 2002 following unity negotiations among three former business organisations – the Pietermaritzburgse Sakekamer, the Midlands Black Business Chamber and the Pietermaritzburg Chamber of Commerce and Industries. In forming a new chamber of commerce and industry, the unifying bodies agreed to forego their independent identities. Following the unification, the PCB was afforded the recognition of the local and provincial governments as the representative of the business community in Pietermaritzburg.