To bridge this gap and to supply both budding and experienced entrepreneurs with advice and assistance, Business Partners launched the Entrepreneurs Growth Centre in October 2014.The centre has received more than 700 telephonic, email and social media queries per month, and the numbers are continuing to grow, said Christo Botes, executive director of Business Partners.
In its short existence so far, the centre has already achieved substantial results. "In one case, an entrepreneur approached one of the experts to establish whether Business Partners believed the franchise he was about to purchase was a good deal. The expert made a few calculations and concluded that the entrepreneur was about to pay a substantially inflated price for the franchise. Armed with this advice, the entrepreneur felt confident to return to the franchisor and negotiate a lower price.
Through financing small and medium enterprises over more than 34 years, Business Partners has built up an immense store of knowledge and skills invaluable to any business. It has now found a way of giving South African entrepreneurs quick and free access to this gold mine of information and insight.
Anybody, anywhere in South Africa, is able to contact Business Partners' Entrepreneurs Growth Centre to discuss any queries they have about business. "How do I register for VAT? How do I fire a disruptive employee without running into trouble at the CCMA? Is my pricing right? How do I get into exporting? What does the Consumer Protection Act say about offering guarantees to customers? Am I paying too much for my credit card merchant service? Should I buy this building, or go on renting it? Is my business plan any good?"
Within minutes of contacting the Entrepreneurs Growth Centre, one of the front-line staff members will answer the question by either providing a relevant fact sheet or by referring the caller to one of the four business experts employed by the centre to answer more specific or technical questions. These experts don't only have vast business experience themselves, but also have access to Business Partners' formidable internal resource centre.
Botes said that some questions may require in-depth guidance and the assistance of professional consultants or trainers, and may be beyond the scope of the Entrepreneurs Growth Centre, but in this case the experts will at the very least be able to guide the entrepreneur on the right path and assist in finding a suitable service provider.
He added that entrepreneurs who fit the Business Partners profile, namely clients who require business re-engineering guidance or support with cash flow management or credit control, can be referred to the organisation's long-standing database of business mentors if their queries require more than a quick answer. "These mentors are technical experts who have in the past owned businesses or acted as consultants, and are willing to consult to entrepreneurs at reduced rates."
Although the centre is part of Business Partners' operations, there are no qualms about referring callers to any other service, even to other financiers, said Botes. "An example of this is an entrepreneur who contacted the centre with a badly put together business plan. After advice on how to improve the plan he managed to raise finance from a bank."
Botes said the Entrepreneurs Growth Centre is part of Business Partners' commitment to the overall development of the community of South African entrepreneurs through its square peg movement. As such, the centre has already compiled a database of nearly every business financier operating in South Africa in order to refer entrepreneurs to the best service provider to suit their needs.
"Entrepreneurs who are assisted by the centre can of course also be referred to Business Partners for financing, but just because they have been helped by the centre doesn't mean that they are guaranteed finance by Business Partners. They will be evaluated afresh by a committee who will purely consider the viability of the business, not the fact that the business was referred to it by the Entrepreneurs Growth Centre," said Botes.
Business Partners is committed to the Entrepreneurs Growth Centre in the long term, and Botes said that it will soon be expanded in various ways. "We aim to draw in more top-quality service providers from inside and outside of Business Partners, which will ensure that the Entrepreneurs Growth Centre becomes the first stop for all entrepreneurs who have a question about how to grow their businesses, and thereby the prosperity of South Africa," concluded Botes.
Assistance from the Business Partners' Entrepreneurs Growth Centre is free of charge and entrepreneurs are able to get in touch via telephone or email. The share call number 0861 763346 (SMEFIN) ensures that the Joburg-based centre is never more than a local phone call away for entrepreneurs all over South Africa.
For more, go to www.businesspartners.co.za/entrepreneurship-growth-centre
