SBA helps out business owners
Think long term if going offshore for ‘safe havens’
ope’s migration crisis and the UK’s shock Brexit vote, have all made for an economically challenging and unpredictable year. As such, for much of the year, this global tumult may well have had a “shielding” effect on South Africa and the rand.
While Brexit initially prompted a kneejerk response to sell off the rand (as investors flocked to a more stable dollar), South Africa’s woes haven’t been as bad in light of these events.
Back home, the NPA’s welcome dismissal of charges against Finance Minister Pravin Gordhan saw the markets react positively, sending the rand to R13.31 against the dollar.
Just a day later it was given another big boost when the State Capture Report bombshell broke on the back of Zuma’s surprise withdrawal of his interdict against its release, eventually settling at R13.50.
This year will surely be remembered as the year of “The Donald”, a political anomaly who is more reality TV than White House clout. While the rand stabilised in
CAPE TOWN entrepreneur Nicholas Xhonxa last week won the ABSA top small business owner student award after finishing the Stellenbosch University’s Small Business Academy (SBA) programme. Xhonxa, who co-owns SSA Ads, took the award after recording the highest marks in the nine-month programme.
Xhonxa said the programme had contributed significantly in improving township businesses. “We are more focused now and have a greater understanding of new trends in business and how to continuously be one step ahead,” he said.
The SBA is a business education pro- gramme that focusses on townships.
SSA Ads was started in Gugulethu to offer promotion, brand activation, brand development and the embroidery of clothing to companies.
Xhonxa said he started SSA Ads after seeing a gap in the market. He said the company started with R28 700 in savings but still needed another R65 000 to operate.
The company now employs a sales consultant and part-time staff to assist at events and promotions. Xhonxa said it was looking to hire a graphic designer and sales executive.
“Promotional campaigns are run in townships and that is where we come handy because we understand cultural dynamics of the townships. Now we want to build our brands in the advertising and marketing industry to get business from the private sector,” he said.
“At the moment our profit margins are small as we still need to invest on our infrastructure and assets. We are still in the infant stage, the focus is on building the business in the next 12 months,” he said.
The awards ceremony, which was sponsored by ABSA and Distell Foundation,