What do participants on the Personal Financial Leadership Program say about their experience?
What are the benefits of participating in the Personal Financial Leadership Program?
This is what they said….
“Thank you, no one has ever broken down the reality of Personal Finances for me like this. I have learned a lot.”Read More
South Africa’s small business failure rate of almost 80% within the first three years means the average entrepreneur’s chance of starting a business, growing it and creating much-needed jobs is painfully slim. The trend is similar across most of Southern Africa.
I have spent the last three years focusing on the question of why small businesses fail and why certain entrepreneurs are more successful than others. There seems to be little or no research in Africa dealing with the actual entrepreneur, and why some succeed and others fail. Most of the research deals with the environment and the actual business.
What should be done to strengthen MSMEs?
We should strengthen MSMEs by strengthening the core… the actual entrepreneur. Having spoken to dozens of entrepreneurs, I have discovered that those who become successful share similar personal characteristics. Thus, it seems likely that about 40% of the success of small scale businesses depends on the actual entrepreneur.
What can we learn from this?
We should initiate a new approach to entrepreneurship development which involves the personal development of the actual entrepreneur, with the objective of transferring the skills required to succeed in business. Cash flow training is important, but so is entrepreneurship focused personal development, personal initiative programmes, and other personal skills.
Please contact Agnes on agnes@adgeafrica.com for more information of our Personal Development Programme for entrepreneurs.
A recent study by consulting firm PwC found that 53% of full-time employed adults in the US are stressed about their finances, far ahead of their jobs (17%), personal relationships (15%) and health (14%).Read More
Household indebtedness in South Africa is currently at crisis levels. At least three-quarters of South African households admit to being under significant financial pressure. Only 23% of South Africans have any money left at the end of the month – with the other 77% left flat broke at the end of the month, with no hope of saving any money. Read More
Money struggles can have a negative effect on more than just a person’s job performance level. Someone who is concerned over their financial situation is more likely to take out a loan or even a hardship withdrawal against their retirement savings. This seriously hurts their ability to save long term and adds to the stress they feel, which can further diminish their production at work.Read More
There’s nothing more frustrating than having worked on a deal for weeks or even months just to have the prospect say, “You know, I’m not sure this is the right time for this project. Why don’t you check back with me in six months.” As soon as that sentence is uttered, the deal is essentially dead. Time to start all over again with someone new.Read More
We are excited to announce that we have officially changed our name to Adge Africa!
ADGE is a combination of the words Action and Knowledge which represent our commitment to deliver Knowledge Based Action.
Read More
Entrepreneurs are a unique group of people. Not only do they think differently; they act differently. They draw on personality traits, habits and mind-sets to come up with ideas that straddle the line between insanity and genius. But just because you’re an original thinker and came up with an idea to replace gasoline in cars doesn’t mean you’re cut out to be an entrepreneur.Read More
The Micro, Small and Medium Enterprises (MSME) sector is crucial to Africa’s growth, currently contributing more than 45{6de6520bac878567fcd0b20f0dbb3c7620581fba1ef76900ed00d745ae853531} to employment and 33{6de6520bac878567fcd0b20f0dbb3c7620581fba1ef76900ed00d745ae853531} to GDP (source: ADB). However, SMME’s in Africa face growth, viability and sustainability challenges. Despite Mozambique’s commitment to growing and supporting their country’s SMMEs, these firms continue to face an extremely hostile business environment, including lack of skilled staff, burdensome regulations, tough local economic conditions, lack of finance and the high costs associated with expansion, marketing or employing staff.
