SMMEs Empowerment RAL has set aside 30 percent for the empowerment of local SMMEs in all the upgrading projects. The Agency has realized that one of the challenges experienced by SMMEs has been financial management, hence the importance of expert advises such as that given by Ms Zanele Jafta.
Zanele Jafta is a Certified Financial Planner (CFP). She currently works as a Provincial Manager for Nedbank’s Financial Planning and Wealth division in Gauteng. Beyond building roads, Roads Agency Limpopo creates jobs and empowers small businesses in Limpopo.
SMART FINANCIAL MANAGEMENT THE KEY TO LONG-TERM SUSTAINABILITY OF ANY SMALL BUSINESS
t’s not how much money you make that matters, but how much money you keep and how long that money works for you,’ Robert Kiyosaki. Globally, small and medium-sized enterprises (SMEs) have a low success rate. According to the US Bureau of Labor Statistics, about 20% of SMEs fail in their first year, and about 50% of SMEs fail by their fifth year. The Small Business Institute (SBI) report indicates
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that the percentage of SMEs that struggle to sustain themselves beyond five years of operation is as high as 75%. In South Africa, the current tough economic climate poses a challenge for local small businesses. It has been a tough year for the South African economy. It started off with the shock announcement that the economy
