In a noble effort to curb woman abuse in South Africa’s high crime environment Sipho develops a clothing line that’s different in that its garments have concealed martial arts weapons (knives, ninja stars, nunchucks etc) to defend themselves. Most women have applauded Sipho’s intention to help them protect themselves but they have declined to purchase any clothing because they do not know how to use the weapons, find clothing uncomfortable and they can’t afford them. The clothing standards bureau refuses to approve Sipho’s “innovation” despite the many tweeks he’s made. But he feels very strongly about this opportunity and just like Thomas Edison who failed over a 1000 times, he will get women to wear nunchucks around their waist and ninja stars in their bras!
Secondary research, is essentially searching for already existing research to prove or debunk an idea, argument, theory or in this case a “problem worth solving” for a business idea. Secondary research is arguably the most convenient research form as it is inexpensive as research has already been done for you as opposed to primary research where you conduct the research yourself. If conducted correctly this kind of research may convince investors to fund primary research, a pilot or the product/service that you have in mind.
Research, in an entrepreneurial context, is the process of determining whether there is a problem worth solving in order to build a business case. Research is useful for potential funders and incubators as an objective yardstick to test the assumptions that a business idea is based on.
Business incubation, also known as non-financial support is an under stated element of entrepreneurship. It is often overshadowed by financial support (funding) as though getting funding with solve any business problem, which it won’t. Non-financial support is just as important as financial support. What is business incubation?
Access to funding is largely at the forefront when discussing entrepreneurship challenges in South Africa. There are few entrepreneurs who are not looking for finance for some or other reason.
The idea of businesses lacking access to funding has become so “easy” to use that its the first crutch for some entrepreneurs to complain and be lazy.
The podcast was about a partnership between Raizcorp and Old Mutual. Entrepreneurs would be vetted by Raizcorp and Old Mutual to provide franchise funding but the interviewer also got his thoughts on entrepreneurship in South Africa.
Red Case has gone through a major overhaul, out with the old website and in with a new and improved one. There are two main changes that sum up the new Red Case platform.
Charl Rudman (Blue Africa Trading)
His company develops products around Rooibos tea. He was offering 15% equity for R1 million.
Organisations such as Global Entrepreneurship Monitor have gone a long way to analyse the state of entrepreneurship in South Africa and the reasons that contributed to this state. One of the big questions is why there are so few entrepreneurs. I’ve heard a number of explanations related to culture, education and access to finance but here are a few that I’ve observed and I believe contribute significantly to our low entrepreneurship participation rates.
Sebastian de Romijn (Pure Mix Cocktail Solutions)
Pure Mix is a premixed range of alcoholic and non-alcoholic cocktails. He wanted R260 000 for 20%.