Business is about pulling each other up…
Here me out!
Why is it that most small businesses don’t survive the first five years of their operation?
I’ve mentioned in one of my eBooks that a survey was commissioned by Adclick Africa Media Group, to offer a comprehensive assessment of the state of SMEs in South Africa. The focus of the survey was on the key challenges, opportunities, risks and proposed next steps. (South Africa’s SME Landscape: Challenges, Opportunities, Risks & Next Steps 2018/2019.)
The findings of that survey among others were:
Most small businesses in SA are relatively young businesses, with 60% of owners being in operation for less than three years. Most of them are operating their first business.
Most of these businesses fail within the first two years of operation. The reasons for their failure was found to be inability to raise funds, finding customers, wearing too many hats, lack of guidance, slow sales, and unpredictability of business conditions.
These are common problems faced by businesses in most countries.
It is for this reason that most businesses are starting to form business partnerships.
A partnership is a legal relationship and agreement between two or more individuals to carry on a business as co-owners. They pull money together for a common purpose and share individual skills and resources to build the business.
The benefits of having a business partner is that:
- You’ll avoid paying tax as a business and as individuals at the same time. Which means you will not be taxed twice. Individual partners will file their tax returns through their personal income tax returns.
- Startup costs are low because there are partners and as a result, more capital is available for the business
- Two heads are better than one. Each partner bring their unique capabilities and skills, and they share the burden and frustration of running a business. Each partner will always have the other one’s back.
- Most importantly, this is a platform to learn how to grow a business, how to grow as an entrepreneur, how to build reputational and credit scores together as partners, and it opens doors for each partner to pursue other business interests on their own without their partners, because there’s trust that they can do it.
With all this said, we have a platform that offers business owners an opportunity to form business partnerships. We offer them:
– A pool of potential partners to start and grow businesses together. There is criteria we follow to match you with partners who are a good fit for your business idea.
– We provide a platform where together you’ll market your business.(or we market your business for you).
– We provide accountants who will keep your partnership books properly. And we provide lawyers who will draw a partnership agreement that spells out an exit plan for the partners and the business.
– And many more
Most people struggle to start a business, let alone grow it. Ideas die permanently because of lack of resources to start a business. What we are offering is an opportunity to start creating your own wealth. A partnership will boost your net-worth and will open doors of investors for you.
All you need, is to take the FIRST STEP. To find out how we can match you with a suitable business partner, fill in your details here: Fill In Your Details and we will come back to you.
