South Africa’s entrepreneurship is ranked 55th out of 137 countries across the globe and second to only Botswana in Africa, according to the latest statistic by the Global Entrepreneurship and Development Institute Report (GEDI).
Our entrepreneurial culture shows high growth rates; many competitive opportunities and various venture capitalist who invest in our businesses.
Furthermore, we have strong numbers in exports and we’re great innovators, according to the GEDI’s research.
Contract opportunities are also abundant according to How2Tender director, Wynand Cronje. How2Tender assists entrepreneurs with the Tender application process.
“There are plenty of opportunities, including RFPs, RFQs and Bids, in circulation. These opportunities range from small to very large,” explains Cronje.
“The leading Tender lead distribution companies distribute anywhere between 5000 and 7000 tender opportunities per month.”
Despite all the opportunities, thousands of entrepreneurs and business owners are struggling to stay afloat or to create business growth.
The GEDI’s statistics might reveal why so many entrepreneurs fail, despite their good intentions.
South Africa’s worst-developed entrepreneurial characteristic is startup skills. Our lack of business knowledge and skills significantly affects the success South African businesses.
In addition, Cronje believes most businesses don’t apply to the available Tender opportunities, because they lack the necessary knowledge.
“The most general excuse is that they can’t compete in corrupt procurement processes, which is a misconception. The bulk of Tenders are awarded fairly and according to the preferential procurement act. The preferential procurement act factors in technical compliance, pricing and B-BBEE,” he explains.
“The bulk of the entrepreneurs have a very basic understanding of public procurement and the legislation that governs it.”
Company Partners’s Legal Expert, Tsitsi Kinnear, believes South African entrepreneurs often miss business opportunities, because they don’t have access to the right business resources.
“Bigger corporations usually have procurement departments who specialise in sourcing and applying for Tenders for the company. The average entrepreneur neither has the time or the resources to have that,” explains Kinnear.
“Some Tender documents can go for over 200 pages while using complex terminologies and phrases which can take hours to complete.”
That’s why Kinnear, and the rest of the Company Partners team, created a brand new Tender Subscription Service that assists South African entrepreneurs with all the know-how and assistance they need to apply to Tenders successfully
Click HERE to see how Company Partners can assist with in applying for hundreds of Tenders relevant to your business – with their Tender Subscription Service.
“We behave as that procurement department on behalf the client. We save time and valuable energy that the startup desperately needs to use in other areas of the business.”
This monthly Tender Subscription Service includes the following:
“As South Africans, we need to continue to increase economic growth, this is done by empowering the entrepreneur. A start-up winning a significant Tender not only aids the start-up themselves, but the economy through job creation,” says Kinnear.
If you’d rather like to sign up for a once-off Tender package you can read all about it, by clicking right HERE.