As we celebrated Youth Day, the public holiday served as a reminder of the sacrifices young people made for South Africa. It also shed a light on the struggles faced by today's youth in South Africa, particularly those in townships. South Africa boasts over 500 townships, with the largest being Khayelitsha in the Western Cape and Soweto in Gauteng being the most populated township. Because townships have a huge population, there is a bustling township economy that youth entrepreneurs can tap into.

What is the Township Economy?

The township economy is made up of enterprises and markets based in townships. This includes restaurants, bars, taverns, taxis, backroom rentals, mechanics, panel beaters, metal fabricators, childcare services, barbers, and hair salons.

These businesses, although quite popular, have limited access to financial products and services. They are mostly run by individuals who are established business owners, leaving little space for young entrepreneurs

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SMEgo is a well-rounded tool for SME

SMEgo is the all-in-one platform that helps South African SMEs run their business. This latest solution from Old Mutual brings entrepreneurs the affordable tool that helps them stay on top of their finances.

By using this platform, entrepreneurs can easily create, download and send professional-looking invoices, quotes and statements. These documents can even be securely sent via e-mail or per WhatsApp straight from the App.

SMEgo is Made for Mobile

The SMEgo app is available on Google Play and Apple’s AppStore. Anyone can download and install the application on their mobile devices for free.

Entrepreneurs simply sign into the app to manage their cash flow.

Thanks to the app, businesses can be paid quickly with the multiple payment methods that it offers. QR codes can even be added to invoices.

Affordable Pricing for Small Businesses

SMEgo has affordable prices for small businesses. For only R 299,99 per month, users can create unlimited invoices, quotes, credit notes, delivery notes, purchase orders, and customer statements.

Other features that can also be accessed are setting recurring invoices, setting invoice payment reminders, creating a credit score for the business, as well as tracking income and expenses.

Any user is able to access the Old Mutual funding solutions right from the SMEgo dashboard. These consist of business and, personal loans, asset finance and more.

Sign up for an SMEgo account today or download the App on your app store.

Business Management Tips for Entrepreneurs

Business management is a vital part of running small to medium-sized enterprises (SMEs). Owners and entrepreneurs in South Africa use business management skills such as planning, organising, directing, and controlling the activities of a business or organisation to achieve its goals and objectives. This includes overseeing all activities from finance, and operation to marketing and customer retention.

In this article, we delve into a few business management tips that entrepreneurs can use in their daily operations. 

Business Management Tip 1: Set Clear Goals and Objectives

Businesses have various goals and objectives. Not only can this be to make money, but also to make a difference within a community. Regardless of the exact goals, many aspects of reaching these goals can be difficult to keep up with. That's why they must ensure their goals and objectives are clear, practical, and aligned with their vision and mission. This ensures that they remain focused.