50 small businesses will gain access to free specialised consultations with industry experts as part of the survey’s aim to identify and nurture key growth areas.
October 2024 – With the failure rate of startups and small business continuing to surge, Nedbank is inviting small business owners to participate in a survey designed to gather crucial insights on growth areas that can significantly enhance their chances of success.
Based on the results of the survey, 50 small businesses selected from the participating sample will receive complimentary specialised consultation from specialists and industry experts to help them grow their business. Nedbank also invites specialised industry experts across all sectors and professions to enlist their names much-needed counsel to the selected small businesses.
The Nedbank Startup Bundle Time Check Survey aims to identify specialised professionals that entrepreneurs would most like to spend time to gain knowledge on how to sustain their businesses. It will cover various aspects, including access to legal advice, business coaches and strategists, finance and accounting services, IT and HR.
‘By understanding the specific needs of entrepreneurs, we can continue to tailor solutions to better support them and contribute to reducing the high failure rate of small businesses,’ says Alan Shannon, Executive: Sales Strategy & Enablement at Nedbank. ‘The insights gathered from this survey will guide Nedbank in developing targeted resources and programs that can empower small businesses to flourish, starting with funding one-on-one personalised sessions with experienced professionals who will address the current blockers or queries in their business.’
Small businesses are the backbone of the South African economy with a sizeable contribution to the country’s GDP, and their success is vital to community growth and job creation. However, South Africa has a higher failure rate of SMMEs than elsewhere in the world (70% – 80% of our small businesses fail within 5 years) according to research by the University of the Western Cape.
‘This high failure rate poses a substantial threat to economic stability and development,’ adds Shannon. ‘Addressing these factors can help foster a more resilient and dynamic small business sector, ultimately the entire economy and society. The survey represents a commitment to fostering a thriving small business landscape and ensuring that entrepreneurs receive tools and resources they need to succeed.’
Nedbank’s Startup Bundle Time Check Survey also presents small businesses with an opportunity for all entrepreneurs to be part of Simplybiz, a free platform for everything they need to grow their business from tools to enhance skills, to free advertising and over 170 ready-to-use business templates. It also brings them a step closer to market access opportunities such as the Avo® SuperShop that gives them access to more than 2,6 million customers.
Small business owners can register on SimplyBiz, and participate at “If you could have a 1-hour consultation with a professional, who would it be? – SimplyBiz (zendesk.com) and completing the survey by 4 November 2024.
Experts and business specialists in various industries can enlist their names to share their expertise with selected small businesses by registering their interest via Thought Leader and Subject Matter Expert survey – SimplyBiz (zendesk.com).
