Q : Umsobomvu Youth Fund - vouchers to access business development services - (1) For how many vouchers can one apply? (2) Can one apply for multiple vouchers at the same time?
A : (1) You can apply for maximum 4 vouchers in your lifetime. (2) You can't apply for multiple vouchers at the same time, because you have to have one service completed before you can apply for a voucher for another service

Q : funding for women entrepeneurs - are there special programmes for that?
A : BUSINESS PARTNERS has launched a fund for women entrepreneurs. Women with a 25,1% - 49,9% ownership (female engendered) or 50% - 100% ownership (female owned) can apply for funding ranging from R250 000 to R5million. For personal assistance from their Joburg office, contact Katja on 011 470 3000 or send an email to knaumann@businesspartners.co.za. Their website is www.businesspartners.co.za

Q : Drawing up an enviromental health plan - who can help with that kind of service?
A : One option is the CSIR (Council for Scientific and Industrial Research). Their website: www.csir.co.za

Q : franchise businesses and franchise funding - where can i get information?
A : ) Visit the website of the Franchise Association of Southern Africa - www.fasa.co.za (2) Visit the website of Business Partners - www.businesspartners.co.za

Q : Difference between a good idea and a good business opportunity ?
A : A good idea can only become a good opportunity if the right set of circumstances exist (like price, location, demand for the product or service, hard and smart work by the entrepreneur, etc). The entrepreneur needs to be able to realistically turn the idea into economic VALUE. Otherwise it will remain just a dream. The entrepreneur must analise and strongly ACT on a business idea and opportunity. Otherwise nothing will happen. There is only LIMITED TIME to act, because market conditions may soon change (i.e. the opportunity may be lost).

Q : Workshops, training programs, business network sessions, etc - where can i find more info about upcoming events at branches of the business place?
A : Visit our website (www.tbp.co.za). Click "Members Login". Log on using the username "visitor" and the password "visitor". Click "resources". Under category, select "document". Click "search" (documents will now download onto the screen). Scroll till you find the document you want to view. Click "view" (it will now display two options: View or Download). Note: our training and other activities are also regularly advertised in the BIG NEWS FOR SMALL BUSINESS newspaper which is distributed via Postnet, Incredible Connection, Build-It, and ABSA bank's small business divisions.

Q : Financing my business - Where can I get information?
A : (1) Most South African banks have small business finance divisions. Contact each bank directly about its requirements. (2) Go to the website of the government's small enterprise development agency (www.seda.org.za) and search their website for info on business finance. (3) Visit www.businesspartners.co.za and click on "brochures" for information on different ways in which they can help. (4) Search on a reputable website like www.google.co.za. Click on the option for South African pages. Search for phrases like "business finance" or "business loan" and follow the website links that appear. Be aware that no business, organisation or person would just SPONSOR your business - especially in its start-up phase. You may have more success with finance if your business has existed for some time and it has a good record of financial management.

Q : How to register a cc or other kind of company cost-effectively
A : One option is to email INCORPOREX at incorporex@mweb.co.za (tel no. 076 784 7804 or fax 086 684 5205). Another option is to use SHELF COMPANY WAREHOUSE at www.shelfcompanywarehouse.co.za - Tel (012) 3624101. A third option is to visit the COMPANIES AND INTELLECTUAL PROPERTY REGISTRATION OFFICE (CIPRO) at www.cipro.gov.za and find out how to possibly do the registration yourself.

Q : Tax for small business - how can i find out more about tax issues for small businesses?
A : Under the FAQ section, see instructions to view our TRAINING DIARIES for different branches of The Business Place. We regularly run workshops and information sessions. Tax issues are also from time to time addressed. You could also contact your local SARS office or visit the SARS website at : www.sars.gov.za

Q : How can the voucher program of the Umsobomvu Youth Fund help me improve on my accounting and bookkeeping skills in my business?
A : One of the services available via the Umsobomvu Voucher Programme is a once-off clean-up of your accounting system (or lack of it, if you don’t have an accounting system). It sets up proper accounting software with training on how to use it. Umsobomvu services accessible via the voucher program are subsidised and you pay only a small part of the actual fees. Contact your nearest branch of The Business Place (see "locations" above) to find out if they are a voucher allocating agent for the Umsobomvu Youth Fund.

Q : Can one start a business without capital?
A : Yes. Most successful entrepreneurs start their small businesses with their own funding. Sometimes, the nature of the business may however require substantial funding. In a case like that, you may be able to obtain a loan, provided the necessary requirements, as set by the loan provider company, are met.

Q : Branches of The Business Place
A : Click on "locations" on our website (see above).

Q : Business plan guidelines, where can I get hold of it?
A : Visit the (South African) Small Enterprise Development Agency's website at www.seda.org.za (the organisation was formerly known as "Brain," short for "Business Referral and Information Centre")

Q : Funding to start a business - why is it so difficult to obtain?
A : It is easier for existing businesses to get funding because funders can easily see how “healthy” the business is through the accounting records and other financial documents. Start-ups have no proof of the success of the business. Because there is a high risk with start-ups, it is more difficult to find investors. Venture capital companies (VC companies) thrive on investing in newly-established companies, provided that those companies represent a really unique return-on-investment opportunity and provided that the VC company is happy with the credentials of the MANAGEMENT of the start-up company. A list of venture capital companies can be found on www.seda.org.za (go to the site index, look under “V” for “Venture capital and equity funding” )

Q : How to generate a business idea
A : If you don’t already have an idea for your small business, there are many sources you can go to and methods you can use to generate ideas: Brainstorm ideas with friends, relatives or potential business partners (even “crazy” ideas can be worthwhile if properly researched and expanded on). Carry a notepad wherever you go, to jot down new ideas. Then transfer them to your notebook to expand them later. In your local community, wherever there’s a NEED for a product or service, there’s a BUSINESS OPPORTUNITY. The bigger the need (i.e. the more people who need it) the BIGGER the opportunity. Think of Microsoft and how many people use its software today. It started out as a businesses formed by only a few people who initially worked from an outbuilding (garage). Think of ideas stemming from your previous or current employment. Look creatively at market, social, business or technological trends. Think about a product or service need you've identified through personal experience.

Q : How do I turn a business idea into a viable business opportunity?
A : To turn a business idea (mental conception) into a commercially viable business opportunity, you have to find or create a “set of circumstances” that are favourable for the idea to generate a sustainable or growing income. Some aspects of this “set of circumstances” would be: excellent management, a growing market, excellent products and/or services, excellent location of the business, etc. Do market research to see whether there would be a market (preferably a growing market) for your idea, product or service. You could apply for an "Umsobomvu voucher" to help you do market research. Follow up the market research with proper research to establish the feasibility of the business. Then start doing a business plan which sets out a “map” of how to establish and run your business. Finally, put in place a project plan so that your plans translate into actions that are tied down to specific persons responsible for specific actions by specific dates.

Q : Some of the typical characteristics of a good entrepreneur
A : Lots of energy. Hard working. Passion for what he or she does. Ability to spot opportunities before others. Good at thinking strategically. Good leadership skills. Willing to take calculated risks. Good at setting up agreements and partnerships. Financially savvy. Good at delegation. Good at holding people accountable. Good at performance management. Not afraid to be assertive (note, there's a BIG difference between being assertive and being aggressive). Loves selling. Doesn't like working for someone else. Has strong ideas about how things "should be done" and does not tolerate corruption. Strong on setting goals. Strong on determining roles & responsibilities. Good at project management. Good at keeping track of his workforce's roles, responsibilities, and deadlines that have to be met. Is principle-driven (in other words, does not have different sets of principles for different sets of people).

Q : Can I start a business without a specific business idea in mind?
A : Make sure you have a realistic idea of how to run a specific kind of business in a specific economic sector. If you've never found employment before, are you sure that you've exhausted all possibilities of finding a job? It's easier to find a job than to run a business, even in South Africa. That is why there are many more people in jobs than there are business owners. Besides, work experience is very important for success in business. See “typical characteristics of an entrepreneur” elsewhere in this list of FAQs.

Q : Black Economic Empowerment (BEE) within the South African context
A : Empowerdex is an independent economic empowerment rating and research agency, founded in 2001 by Vuyo Jack and Chia-Chao Wu. The company's mission is to provide support to both the public and private sectors in accelerating broad-based black economic empowerment in South Africa, thereby helping to bridge the gap between the country's so-called “first” and “second” economies (formal as opposed to informal economy). Visit Empowerdex's website at www.empowerdex.co.za for useful information on all BEE issues such as the BEE Score Card. Another useful website regarding BEE issues would be www.thedti.gov.za

Q : Business forms, where to get hold of them...
A : Buy pre-printed business stationery and simply stamp your own business details in. Speak to any accountant about advice on the formatting of any business forms such as a quotation. Alternatively, book a free appointment at The Business Place for legal advice. Do internet research using a reputable search engine such as www.google.co.za (when searching, click on the “South African pages” option). Visit Joburg black suppliers database on www.joburgbsd.co.za. If your business is well-established and you can afford it, get customised stationery printed for your business.

Q : Cash-flow program - where can I get help?
A : Go to www.absa.co.za and click on their "small business toolbox." Scroll down and among lots of other useful info regarding your small business, you'll find a cash flow program and a cash flow manual that you can download.

Q : Student loans - where can I get information?
A : Most retail banks give student loans (subject to their own sets of conditions). You could also visit the National Student Financial Aid Scheme at www.nsfas.org.za for alternative finance options.

Q : Can I run different businesses under one umbrella company?
A : Only if you're really experienced in running businesses successfully. If you're still a "green" starter in business, it's probably not a good idea to shift your focus away from the core business that you best understand. As you grow in experience and financial strength, you can expand - but only after properly planning (and budgeting) for expansion

Q : How can I get to network with people in business?
A : You could form your own or join an existing business association specific to your economic sector (e.g. construction businesses) or you could join one of the more general business organisations like Business Unity South Africa, NAFCOC, or your local chamber of commerce and industry. Different branches of The Business Place may from time to time run network sessions, workshops, etc. Check the contact details of branches under "locations" on www.tbp.co.za

Q : Do I need to make an appointment if I want to talk to someone at The Business Place about the assistance I need from them?
A : No. First-time visitors to The Business Place are welcome to visit us without an appointment.

Q : How does one register as a sole propriator? Do government and other organisations do business with sole proprietors?
A : You don't have to register as a sole proprietor, because you operate the business in your "personal" capacity. Some banks will open a "trading as" account for you (e.g. J Khumalo trading as Khumalo Cleaning Services) which allows you to split your business account from your personal account, but you remain fully liable in your personal capacity. The government and other businesses should in theory not have a problem to do business with you if you're a sole proprietor, but in reality they seem to prefer to do business with either a close corporation (CC) or any other kind of registered entity. As a sole proprietor you could choose to register for VAT from the start, but you don't HAVE to register for VAT until you reach a certain turnover. Check with an accountant what that turnover is. On legal and financial matters, it is always advisable to talk to professionally qualified persons. You can get free advice from such persons through The Business Place.

Q : I have submitted my company details to government departments but do not get any responses. What should I do?
A : There are no shortcuts in business. You have to work hard and smart at marketing yourself as well as your business through the correct balance of customer care, advertising and networking. It would help if you attend tender networking and information sessions to learn more about tender requirements.

Q : Is The Business Place and the Umsobomvu Youth Fund the same organisation?
A : No, they are separate organisations. The Business Place is contracted to deliver certain services (through a voucher system) to clients of the Umsobomvu Youth Fund.

Q : There is no branch of The Business Place near to where I live. Who can I contact for similar support services?
A : Visit the website of the Small Enterprise Development Agency - www.seda.org.za. The service is hosted by the South African Department of Trade and Industry. It contains a lot of detail about business support organisations affiliated to the agency. It also has a lot of helpful information on business development issues in general. It has a site index which allows you to search for any topic by alphabet (for example, you'll find information on "business planning" under B).

Q : Community development organisations - how to plan, fund, set up and implement them...
A : Visit the website of the national dept of social development for more info on non-profit organisations or NPOs. The website is www.socdev.gov.za. On their website you will also find guidelines on how to go about your business planning for the NPO, how to apply for funding, etc. You could also contact the Southern Africa Institute of Fundraising at http://www.saifundraising.org.za/