Finfind News Round up for Busy Entrepreneurs – 21 July 2017

Every week Finfind selects some of the newsworthy articles to help keep busy entrepreneurs up to date and informed about the latest happenings in the world of SME Finance and other SME news. Enjoy.

Cash Flow Tips For Small Businesses To Survive Rocky Times

The bad news in the SME market in 2016 was that 67% of small businesses that closed in South Africa did so for financial reasons. This is a far more pressing problem for local entrepreneurs compared to their regional counterparts, with 50% more South African entrepreneurs discontinuing their businesses due to a lack of access to finance compared to the average for Africa. With this and the reality of SA having entered an economic downturn in June, it’s not hard to feel a bit bleak.

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Modest growth for SA’s enterprise application market

Despite ongoing economic uncertainties and political instability, South Africa’s enterprise application software (EAS) will grow 1,7% year on year in 2018 to reach a value of $410,05-million, according to the latest insights from International Data Corporation (IDC).

The global technology research and consulting firm’s newly released ‘South Africa Enterprise Application Software Market 2017-2021 Forecast and 2016 Vendor Shares’ study shows that the South Africa EAS market will grow at a compound annual growth rate (CAGR) of 2,2% over the 2017-2021 forecast period.

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Applications open for SA #cocreate2ACCELERATE programme

Applications have opened for the South African #cocreate2ACCELERATE programme, which will offer local startups the chance to scale their startup globally.

The programme is an initiative of #cocreateSA, which was launched in 2015 by the Consulate General of the Kingdom of the Netherlands as a platform for South African and Dutch counterparts to exchange ideas and innovations for a sustainable future.

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South Asian Fintech Startups Find A Champion In This Emerging Market Accelerator

Owais Zaidi was sitting in traffic when a dilapidated-looking cab pulled up next to him. The cabbie asked to borrow 1,000 Pakistani rupees so he could get his tires changed, explaining that a market loan would cost him nearly 50 rupees a day in interest.

Zaidi was moved by the man’s plight, and he gave the money as charity rather than a loan. But the encounter got him thinking about the millions of underbanked consumers in Pakistan who face predatory lending practices.

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VC4A research proves founder teams are key to startup success in Africa

Data from VC4A’s new ‘2017 Venture Finance in Africa’ research proves that a strong team of founders is the key driver of startup success in Africa.

In this year’s study VC4A aims to better understand the critical success factors for African startups and identify the key ingredients that determine why one venture outperforms its peers. These learnings are useful for both the entrepreneurs and for the support systems they depend on to make well-informed decisions.

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Rwanda’s essential oils offer big profits from little land

Inside a metal shed in southeastern Rwanda, Nicholas Hitimana brandished a plastic container holding a green liquid: geranium essential oil, freshly distilled and ready for export at more than $200 a kilo.

The pioneer of essential oils in Rwanda, Hitimana said he understood over a decade ago “the need to develop high-value crops” in his hilly nation of just 2.6 million hectares.

Agriculture accounts for nearly a third of GDP and employs four-fifths of the population and, as a result, there is “little arable land” remaining.

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Protection Watch: Election boost and business models of the future

Technology provider iPipeline noticed an unusual trend in the build up to last month’s general election: a substantial increase in protection applications. While many could have put this down to being a blip, iPipeline took another look and saw a similar trend before the 2015 election too.

iPipeline product strategy director Paul Yates says: “We witnessed a surprising 17 per cent increase in protection applications the day prior to the election, and saw a similar increase during the 2015 election where new business increased by 16 per cent. Do elections prompt consumers to think about what they have in place to ensure their families and finances are protected? Might advisers be using the election as a prompt to get people to complete the forms? There may not be an obvious reason but we cannot doubt there is a link.”

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