Liz Zambonini, the CEO of The Hope Factory says most businesses do not fail because the owner did not work hard – they fail because the owner did not have the necessary skills and knowledge to succeed.
Poor management and lack of proper market research are some of the constraints faced by the small and medium enterprises in South Africa, according to Dr Thami Mazwai from the University of Johannesburg's CSBD.
Long-term business success relies on continual personal growth and taking a short term entrepreneurial course from a reputable learning institution will ensure that you further your skills in special areas.
Some business owners feel business assurance is an expense they cannot afford, or see it as a luxury for established businesses. However every business needs to include business assurance in its budget.