Let's face it: The market is competitive, it is not enough to just have a Facebook page or Instagram account to sell your products or services.

It is vital to make sure your business stands out; using different marketing strategies forces you to consider your unique selling proposition (USP) and think: What can your customers receive from you that they can’t get from any of your competitors?

You ask questions like "Why do my customers do business with me? Are they looking for a lower price point, or are they motivated by convenience?"

Besides figuring out your USP, you also need to do a competitive analysis, so that you can determine who your direct competitors are.

Here are several ways that you can promote your business:

• Enter a business award as part of your business's strategy: It can boost your brand's exposure because an award-winning business delivers outstanding customer service and is a growing business. This strategy can also help you attract the right talent, build authority and create word-of-mouth marketing. Apply for the EOY Entrepreneur of the Year Awards here

• Radio advertising: Reach the right audience through a radio advertising campaign. Did you know that 80% of South Africans had tuned into the radio at least once in the last week?

• Digital advertising: Different online advertising options can provide a lot of data for you, it can show ads to your exact target audience, and easily track and monitor the results.

• Make sure your business's profile is visible on Google: You can make use of Google My Business and start implementing SEO strategies.

• Get a website and create a business blog.

• Build your business's brand by sharing content about your business to the media (use press releases).

New This Week (1 August 2023)

Everything You Need to Know About Old Mutual’s Masisizane FundA Guide to Youth Challenge Fund (YCF) FundingOutsourcing for Small Businesses in South Africa

Are You Entering the Entrepreneur of The Year® Competition?

South African entrepreneurs and SMEs stand a chance to win their share of R2 million in prizes in the Business Partners Entrepreneur of the Year® awards. The prestigious event encourages the growth and development of the entrepreneurial ecosystem in South Africa.

To enter, visit the website EOY.CO.ZA and share your inspiring success story, and let everyone know about how your company is contributing to the business landscape. Take this opportunity to showcase how resilient you are as a small business owner, and share how you have overcome challenges and achieved excellence.

How to become a gas retailer in South Africa

Gas refill businesses can be targeted toward residential or commercial customers. Commercial gas refill businesses require larger units of gas to be fulfilled, but they also have the potential for greater profits. 

To start a gas refill business, you need to:

• Become an LPG gas distributor in South Africa, you will need to hold the right wholesale license. A DMRE 38 wholesale license is required. 

• Find the right location to operate the business from, invest in enough gas cylinders to match the refill requirements of your business, and come up with an operations plan for refilling and revolving empty cylinders.  

• Other considerations include whether your gas business will do deliveries, and how you will market the business and find customers.

📢 Discovering Business in SA: Unveiling Challenges and Opportunities 

Ready to conquer the dynamic world of South African business? 🇿🇦 Discover the untapped potential and hidden hurdles that await you! 🤔

Question of the Week:

"What are the key challenges and opportunities you have encountered while conducting business in SA?" 

Ready to make your voice heard? 🗣️ Head over to the Startwise Forum and join the conversation! Our thriving community of entrepreneurs is buzzing with insights, experiences, and ingenious strategies to thrive in SA's diverse market. Let's journey together and illuminate the path for aspiring adventurers who dream of conquering the business realm in South Africa! Ready your spirits and set your compass towards the Startwise Forum, where every expedition leads to new horizons.

Business Ideas You Can Start with Ease

If you have been toying with the idea of starting a new side hustle or business venture, but you are not sure about what your options are, this ebook is for you. Get 25+ business ideas to get you started ranging from:

• Retail

• Digital

• Food and Beverage

• Entertainment

• Health and Fitness 

• and more...

3 Benefits of a Cash Flow Forecast

You don't want to leave money on the table; it is therefore important to know exactly where every cent that is coming into your business, is going. Cash flow forecasting helps you to determine your business's future sales and expenses. You can then use the forecasting to:

• Gain better cost control by seeing what the company is spending money on, and help find billing and collections.

• Anticipate cash flow shortages and prevent your business from running out of money.

• You can also streamline monthly expenses to reduce money going out.