Helping business leaders navigate a rocky economy

Despite the multifaceted challenges South African businesses face, entrepreneurs remain positive and aware that they may require additional support to stay afloat, grow and endure. Grow, and its coaches, have the knowledge and experience to guide established mid-sized businesses through these ever-growing challenges and achieve a positive outcome in growing their business, people and profits.

Tackling South Africa’s steep economic slump

As it stands, South Africa’s economy is facing a multitude of issues that are impeding its growth, including a weaker global environment which heavily impacts trade, a tightening of domestic monetary policy, a further and continuous rise in electricity load shedding, and the adverse impact of local and foreign factors on business supply chains, amongst other factors.

At the start of the year, PwC forecasted South Africa’s real GDP growth for 2022 to be 2.5%. This has since been revised to just 1.8% off the back of a global deterioration in economic momentum.

PwC’s global economic forecast for 2022 is currently 1.3% lower than estimated at the beginning of the current year. And with an economic ‘slump’ comes a further decrease in job creation, which will, in turn, increase our unemployment rate to new highs in 2022.

New and existing entrepreneurs are struggling to stay afloat

South African business owners argue that the entrepreneurial ecosystem and enabling environment do not adequately assist new or existing entrepreneurs.

According to the Global Entrepreneurship Monitor expert assessment of entrepreneurial framework conditions, South Africa is the only country of 47 developing and developed nations to have scored below 50% on all framework criteria, making it the sixth worst nation in the world, behind nations such as Iran and Sudan.

The factors in which the nation performed poorly included:

• Ease of access to finance
  
• Entrepreneurial-related finance
  
• Government policy, support and relevance
  
• Entrepreneurial education, post-school
  
• Research and development
  
• Taxes and bureaucracy
  
• Burdens and regulations

Grow’s holistic approach

Since 2009, Grow has assisted hundreds of entrepreneurs in South Africa with rapid growth to raise their revenues, while reducing their stresses and frustrations. Each month, Grow coaches give expert guidance to mid-sized established business owners and leaders on how to increase their sales, manage their finances and develop effective teams so that their businesses can earn more money whilst using less of their time.

With the goal to radically impact 1,000 businesses and improve the lives of their teams in the year 2035, Grow's holistic approach helps business leaders tap into their unique talents and strengths to lead with confidence.

Grow coaches have the capability and knowledge to help entrepreneurs and their team’s set direction in their business by clearly defining and applying a successful business strategy and developing winning leadership teams capable of executing the strategy.

With its unique Growth Formula, Grow has helped over 400 founders and CEOs solve their business growth problems, scale their revenue and maximise their profitability.

The Growth Formula

The Growth Formula is an easy-to-understand model that sets out what business leaders need to master so that they can build a truly successful, profitable and enjoyable business. Its unique and universally engaging design enables leaders and managers alike to build the essential new skills they need to develop great people and drive long-term measurable and sustainable performance improvements in their business in the shortest time.

Grow's list of clients has seen quick transformational results. One business owner sums it up with these words: "Where we were a couple of years ago to where we are right now, we've seen a 100-fold growth. My advice to people who are thinking about coaching is to take action. Action eliminates fear. If you go for it, you will be surprised what can happen on the other side."

Another Grow client, a family dairy business that rivals the biggest in the country, explains: "With coaching, we were forced to look at our business, put it down on paper and be strategic with where we were going. When I look at what we said we would do in the first year, we have tripled that since then."

The Growth Formula results speak volumes, with some clients who have partnered with Grow reporting five-fold growth in just three years.

To learn more about Grow Business Coaching, please visit https://www.grow.za.com/.