Precious Mvulane, a multi-award winner, author and business woman, has demonstrated over the years that the future is not determined by one’s background, but in fact by the decisions and actions that one takes each day. With over 18 years respectively, the facilitator and chartered accountant also played various key leadership roles in the public and private sectors.
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Office Manager and Executive Assistant
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Entrepreneurship in South Africa
When Entrepreneurs make a decision to open a business, they have not comprehended what it would take to build a successful business day in, day out. They don’t understand that every decision they make in the business has a financial implication, regardless of the business function. Therefore, there has to be integration of all business functions when decisions are made. Entrepreneurs need to understand the world of finance to be able to make informed decisions that are profitable and sustainable.
Did you know that 80% of businesses in SA fail in the first 3 years of operation
The main contributing factors are:
- Low levels of education- The general perception is that it does not add value to success.
- Developmental state- The hindrance would be having first world regulations and laws in a 3rd world country.
- Decision-makers- People who have never ran a business before and yet are expected to make sound business decisions.