A new report reveals that South Africa’s small business
owners are optimistic about the future. However, a high proportion
still use spreadsheets to run their finances – making them highly
vulnerable to errors.
Released by Xero, in partnership with market researchers World Wide Worx (WWW), the ‘State of SA Small Business’ report surveyed 400 South African small businesses across 22 sectors. The results suggest that South Africa’s small businesses are optimistic about the future: 58% expect to grow in the next year, while 29% expect to stay the same and only 12% expect to shrink. The report marks Xero’s arrival in the South African market.
The research also revealed that a shocking 40% of SA’s SMEs rely on error-prone spreadsheets and paper records. Studies have shown that 88% of all spreadsheets also contain errors of some kind. Considering that the economic output of small and medium-sized enterprises (SMEs) in South Africa is estimated at 52% of GDP, that’s a potential R1 trillion of GDP at risk.
27% of small business owners cited access to funding as a major barrier to starting a business, with a large majority (83%) relying on personal savings, friends or family to start their business. Although SA’s SMEs are confident about their prospects, 86% don’t think the government does enough to support them.
“We are passionate about helping small businesses operate more efficiently, both because of the impact it makes to individuals but also for the impact we can make on the larger business community,” said Gary Turner, Xero co-founder and managing director for Xero in the Europe, Middle East and Africa region.
“Our research highlights the key challenges facing the small business community in South Africa, and we’re encouraged that while some of these challenges are particular to the region, many of them are common across other countries we operate in. This is a large and vibrant entrepreneurial community, but this research shows that significant opportunity exists for small businesses and their advisors, and Xero is perfectly placed to help.”
The report was produced by WWW, in partnership with Xero, leading cloud accounting software, to celebrate their arrival in South Africa. Xero is easy-to-use online accounting software for small businesses and their advisors, founded in New Zealand in 2006. This month, Xero announced it has passed a quarter billion annualised revenue and hit 717 000 subscribers in 180 countries, with 242,000 subscribers added in the 12 months to 31 March 2016. Xero boasts more than 500 third-party integrations, and was ranked No. 1 by Forbes as the World’s Most Innovative Growth Company in 2014 and 2015.
- For more information on Xero visit: https://www.xero.com/us/
Win a Poster Heater with Gadget and Takealot.com
This winter Gadget and Takealot.com are giving away three Poster Heaters, which look like posters but become heaters when you plug them in.
Three Gadget readers will each win a unit, valued at R550 each. To enter, follow @GadgetZA and @Takealot on Twitter and tell us on the @GadgetZA account how many Watts the heater consumes.
What’s the big deal about these heaters? Many of us are struggling to keep the balance between soaring electricity costs and the need to keep warm this winter.
However, the recently launched Poster Heater by EasyHeat and distributed in South Africa by Takealot.com is not only one of the most cost effective electric heaters currently on the market, it is also easy to setup and use.
As the name indicates, it is a poster similar to one you would hang on a wall. But, plug it in and it turns into a 300 Watt heater. The Poster Heater isn’t designed to heat hallways or large rooms, but rather smaller ones like a bedroom or a baby’s nursery or a dressing room.
It uses radiant heating, which means that it heats up in a couple of minutes and the heat is directed at the objects or people around it, quickly taking the chill out of the air and providing a comfortable ambient temperature.
The other advantage of radiant heating is that it doesn’t dry out the air like infrared or gas heaters. Users also don’t have to worry about their children or pets getting too close to it because, even though it gets hot, it can be touched.
To enter the competition follow the steps below:
Competition entry details:
3. The competition closes on 31 July 2018.
4. Winners will be notified via Twitter on 1 August and Takealot.com will be in touch to organise delivery.
5. The competition is only open to South African residents.
Deezer to host Hotstix’s Mandela tribute playlist
Deezer is celebrating Nelson Mandela on the centenary of his birthday by hosting a tribute playlist created by music legend Sipho “Hotstix” Mabuse.
Mabuse, a legendary figure in African music, first rose to prominence in the 1970s with his band Harari and later developed a name for himself as a solo artist. One of his best known songs was the global hit BurnOut in the 1980s.
The playlist takes the listener on a captivating musical journey through the life of Nelson Mandela. It was compiled by Mabuse, who consulted with Mandela’s family and friends to ensure that the music would be relevant and accurate. The playlist also features commentary by Mabuse, which was recorded in his Soweto home.
“I have tried to tell the story of the music that Madiba loved,” says Mabuse. “The Playlist excludes the time in prison obviously, as Madiba would not have had exposure to music in that time. We have focused on the music we know he loved before and after that period. This recording was really an emotional journey for me, but an incredible opportunity to document these memories.”
The playlist features the music the young Mandela loved, such as The Manhattan Brothers, Solomon Linda, Brenda Fassie and Miriam Makeba. It includes struggle songs from Chicco, Johnny Clegg, Hugh Masekela and Yvonne Chaka Chaka. The playlist also includes Mandela by Zahara, one of the younger artists who caught Madiba’s ear.
Mabuse also offers stories of his own songs, such as Shikisha, a song greatly beloved by the former President.
“I was delighted to share my thoughts and hope the listeners enjoyed the musical journey,” says Mabuse. “Madiba did enjoy music immensely and we all have a purpose wherever we are in the world to celebrate culture and to learn from different cultures and music forms and styles.”
This playlist was inspired by the Nelson Mandela 100 campaign, calling on corporates and individuals to act as sources of inspiration and engage in conversation and action.