• SME Brief
  • Posts
  • On Track with Your Goals? Here's Help

On Track with Your Goals? Here's Help

June 25, 2021 • Estimated Reading Time: 5 minutes

Have you done your mid-year review? Tracking your business's progress is very important and a mid-year review can help you see how far you have come and plan for the rest of the year. Some of the questions you can ask yourself are: 'Are revenues where you thought they’d be' and 'Can you capitalise on your unanticipated successes or overcome the unforeseen challenges?' Or 'do you need a different plan?' Here's food for thought: “Businesses which do not allocate time for a mid-year to reflect and plan are running the risk of not operating at their full potential.” - Gerrie van Biljon In this newsletter, we share:- Mid-year reviews: are you still on target?- Learn about the different types of Government Funding for SMEs- SME Solutions: Your Guide to Buying Business Insurance- Rock promo codes for you!

Have a great, productive week ahead!

Quote of the Week

Mid-year Review: Is Your Business Still on Target?

Gerrie van Biljon of Business Partners Limited gives 4 key areas to focus on when conducting your mid-year review:

1. Cash-flow forecast

2.  Reflect sales targets, re-motivation of staff members and business operations.

3. Work on structure, such as a SWOT analysis, where the team considers the strengths, weaknesses, opportunities and threats facing the business.4. Adequate research: look not only at what’s happening in the business but also in the marketplace. READ THE FULL ARTICLE HERE

We're sharing different types of funding for your business, including where you can apply for it. This week the focus is on Government Funding.

Different Types of Government Funding for SMEs

The South African government offers several funding instruments for small businesses. Ranging from grants to incentives, each offers some form of financial support for entrepreneurs, including:– Full or cost-sharing grants, which are usually not repayable.– Incentives, these are grants in that you do not have to repay the money.– The government also offers equity funding which means that the government funding agency buys a certain part of your business in return for percentage shareholding. READ MORE to find out what government funds are available for small businesses

When Last Did You Reassess Your Business Insurance?

Sometime this year? Last year? Or can't remember when? Business insurance can cover you and your business against financial loss, legal action, business interruption (like the COVID-19 lockdown), reputational damage and the survival of the business. If you are planning to buy business insurance, consider this:- Assess your risk- Find a reputable licensed agency- Shop around- Reassess every year

The following post is sponsored by Rock.

***** You Can Still Get 6 months of Rock PRO for FREE - Get Yours Now) ****

Rock is an all-in-one productivity app for teams that combines messaging with tasks, notes, and files and seamlessly integrates with Zoom and Google Drive. All in one space, no more switching between apps. Work with a tool that is easy to use and open to everyone! Some of the ways Rock can help you run your small business/startup- Work in one space with your creative agency, freelancers and everyone else on your team. Instead of emailing back and forth, your team can track progress and leave comments right in Rock.- Jumping in a meeting is easy since Zoom is integrated with Rock.- You can also link your Google Drive folders to Rock.- Create marketing campaigns - and keep all your marketing briefs, assets, tasks and conversations together.- Run the entire website development process through Rock. Sign up for the FREE 6-month pro membership. Limited availability so first come first serve!