Small Business Focus

How to ensure your small business survives the current situation in South Africa

What can you do to capitalise on a falling rand?

Pavlo Phitids, Aurik Business Accelerator

Start looking at what fixed costs in your business you can move to variable costs.

Pavlo Phitids, Aurik Business Accelerator

Identify your customers that are going to take strain. Can you understand what new problems they’re facing? That’s the seed of new innovation.

Pavlo Phitids, Aurik Business Accelerator

Things have changed dramatically in South Africa over the last week given the S&P ratings downgrade and resultant collapse in the rand.

Big businesses have massive reserves.

Government has taxes.

Life will be different for the poor and marginalised.

Small businesses have to respond and adapt.

Arabile Gumede (in for Bruce Whitfield on The Money Show) interviewed Aurik Business Accelerator’s Pavlo Phitidis.

Phitidis discussed attitudes, tactics and strategies to survive the downgrade.

He gave advice on defining new problems and responding with products and services that solve them.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

Prices are going to go up… fuel prices are going to go up… inflation and interest rates are going to go up…

Pavlo Phitids, Aurik Business Accelerator

You can choose to be a victim, or you can choose to be a victor!

Pavlo Phitids, Aurik Business Accelerator

It’s hard for big businesses to solve problems when they appear rapidly. Smaller businesses can chop and change very quickly. Opportunities are going to emerge…

Pavlo Phitids, Aurik Business Accelerator

Look at your product; can you add more value to it?

Pavlo Phitids, Aurik Business Accelerator

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


Recommended

by NEWSROOM AI
Read More
How to catch a tiger and ride it without being eaten

How to catch a tiger and ride it without being eaten

The Money Show’s Bruce Whitfield interviews small business guru Pavlo Phitidis, founder of Aurik Business Accelerator.

Government - the biggest customer in SA – is broke. Here’s how to survive…

Government - the biggest customer in SA – is broke. Here’s how to survive…

The Money Show’s Bruce Whitfield interviews small business guru Pavlo Phitidis, founder of Aurik Business Accelerator.

How to strategise instead of leaving it up to fate

How to strategise instead of leaving it up to fate

Do you have a strategy, or are you just being busy? Bruce Whitfield interviews small business guru Pavlo Phitidis.

Pay up to 45% less tax by investing in a small business (Section 12J incentive)

Pay up to 45% less tax by investing in a small business (Section 12J incentive)

Dino Zuccollo of Westbrooke Alternative Asset Management answers 12 FAQs about the Section 12J tax incentive.

Want to start a business? How to know if it’ll work before you take the plunge

Want to start a business? How to know if it’ll work before you take the plunge

"Idea validation" is the process of testing your idea before launching your business, says Yiedi CEO Jayshree Naidoo.

How to start your own business (by a guy who started his with almost no money)

How to start your own business (by a guy who started his with almost no money)

The Money Show’s Bruce Whitfield interviews NicHarry founder Nic Haralambous.

Popular articles
DStv subscription price hikes for 2019

DStv subscription price hikes for 2019

MultiChoice will increase the prices of certain DStv packages from 1 April.

Icasa's Rubben Mohlaloga to appeal 20 year sentence for fraud, money-laundering

Icasa's Rubben Mohlaloga to appeal 20 year sentence for fraud, money-laundering

He was sentenced alongside former acting head of the Land Bank Philemon Mohlahlane and attorney Dinga Rammy Nkwashu.

Dr Adriana Marais was on her way to the Red Planet. Then Mars One collapsed

Dr Adriana Marais was on her way to the Red Planet. Then Mars One collapsed

The Money Show’s Bruce Whitfield interviews Marais, a quantum biology researcher with dreams to live on Mars.

'Get ready for tax levy to save Eskom, because the money is simply not there'

'Get ready for tax levy to save Eskom, because the money is simply not there'

Eskom has so much debt it threatens to break South Africa. Bruce Whitfield interviews Dr Adrian Saville of Cannon Asset Managers.

McBride's testimony could implicate MPs in state capture

McBride's testimony could implicate MPs in state capture

Ipid boss Robert McBride is expected to implicate 30 high profile individuals including Members of Parliament in his testimony.

Agrizzi gives the Mokgoro Commission the cold shoulder fearing charges

Agrizzi gives the Mokgoro Commission the cold shoulder fearing charges

Angelo Agrizzi's legal team wrote to the commission informing it that he won't be testifying following being criminally charged.

South Africa just became the world’s hottest destination for oil exploration

South Africa just became the world’s hottest destination for oil exploration

The Money Show’s Bruce Whitfield interviews Stephen Larkin, CEO at Africa New Energies.