online shop

Starting an Online Shop has never been easier in SA

Online shopping is one of the fastest growing markets in the world, including South Africa. Here’s exactly why and how you should set up an online shop to grow your business in 2017.

It all started 23 years ago with one Sting CD.

A man named Phil bought an album from NetMarket in Philadelphia on the 11th of August 1994, marking which seems like the first online purchase in human history.

The New York Times had the perfect headline, “Attention Shoppers: Internet Is Open”. Almost two decades later and ecommerce business is booming.

By the end of this year, consumers worldwide will spend about $1.9 trillion on online purchases, according to eMarketer.com.

Online Shopping is the Future

The obstacles that stopped multiple online shopping sprees from following that one momentous album sale are problems of yesteryear today.

Almost half of the world’s Internet users will be making online purchases by 2018, says Statista.

More people have access to the internet; internet costs are dropping; reputable brands have online stores; payment are easier and more secure; and online shops can often provide better prices, instant customer reviews and free delivery to your doorstep.

As a result, Ecommerce is one of the fastest growing industries in the world according to Ready Cloud, a company that specialises in e-commerce software.

 

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South Africa’s rapidly growing Ecommerce Industry

In South Africa the current number of online shoppers is not nearly as impressive as the rapid growth rates.

South Africa’s online spending is expected to increase by a whopping 43% by 2018, according to Ipsos’s 3rd annual study on global ecommerce figures (a study commissioned by PayPal). That amounts to a grand total of R53 billion.

“The growth rate in South Africa is still exceptionally high, coming off a very low base”, explains Arthur Goldstuck, the managing director of the World Wide Worx (a research company focused on South African business tech).

“This indicates that there is tremendous potential in this market for new business models and even underexposed product categories,” he reveals in his interview with Moneyweb.

How to make the most of Ecommerce Opportunities in SA

South African entrepreneurs need to up their game in order to meet the level of ecommerce innovation in established Western markets, says Goldstuck.

Company Partner’s Branding expert, Daniel Coetzee, agrees.

“A lack of knowledge, hampers the level of ecommerce in SA,” Coetzee says.

Coetzee is part of a team of experts at Company Partners who assist Start-Ups with legal documentation and business growth.

“Most people have heard of the concept. They’ve heard of the possibility of turning their website into an online store, but they stay away due to lack of know-how.”

e-commerce website

How to get a started with your Online Shop

Consequently Coetzee recently launched a turnkey ecommerce service at Company Partners to assist struggling SA entrepreneurs with entering the ecommerce market.

“We offer the foundation and education to empower you to start selling your goods online,” says Coetzee.

This cost-effective service includes a website and an online shop setup, 3 hours of support and a series of online video tutorials.

“The opportunities of selling online are limited only to yourself. With an online shop you can cater to clients outside your usual sphere of influence.

“The best part is, it’s a 24 /7 trading platform. Allowing you to generate more revenue in a day without having to keep those extended office hours.”

To learn more about this ecommerce service, simply just click HERE. A whole new generations of shoppers are waiting for you.

3 Steps to Apply for Funding Opportunities in SA

Figuring out where to find funding for your business and getting all the qualifying documents to apply for one of over 300 funding opportunities can be a very difficult and exhausting task. That’s why we’ve boiled it down to 3 easy steps and tons of help along the way.

Let me guess, you’ve got a great business, but no financial support to apply for Tenders and to grow your business into the success you know it could be?

You have no clue where to start looking for funders or loaner who could be interested in backing a business like yours and you have no idea what legal documentation you need to apply to them.

Don’t worry. You’re not the only one. According to statistic, South African entrepreneurs experience funding, red tape and company documentation as the most difficult challenges in growing their businesses.

The South African Institute of Chartered Accountants (SAICA) conducted a study in 2015 that of over 800 small to medium businesses found that growth finance and government-generated red tape was two out of the 5 most challenging obstacles mentioned.

The other three obstacles were B-BBEE codes, labour laws and and tax laws.

Another study shows that multiple businesses may still be struggling as self-funded enterprises, just because alternative funding can’t be found.

“The majority of small business owners are self funded, with 63% reporting using personal savings while 20% found investment or a loan from a family member, partner or friend and only 6% turned to business angels or venture capitalists,” reads the World Wide Worx’s study on South Africa’s small businesses.

“It is possible that this is not by choice – 27% of small business owners cited access to funding as the biggest challenge to starting their business.”

Even if you are aware of funding or loan opportunities, it can be really frustrating working through hundreds of opportunities, knowing full well you might be disqualified from half of them, not knowing exactly what they’re looking for.

That’s exactly why we’ve crafted a 3-step plan to guide you through the process of finding the perfect funding opportunities and acing your funding application.

Step 1: Get your basic Company Documentation in order with one call

At the very least, you’ll need a company registration document; a business plan that includes your marketing, sales and financials; and a Tax Clearance Certificate to qualify for financial support.

Simply call our toll FREE number (from landlines) 0800 007 269 for your FREE consultation. Our team of experts can assists you with getting your Company Documentation in order in record time.

Requirements to access finance

Step 2: Sign up and fill out this form in 15 minutes

To address the need for an easy way to search for appropriate funding, Company Partners has teamed up with FinFind, a FREE app that searches databases of funders and loaners for financial support that fits your business. It also informs you of any documentation you still need to qualify for these opportunities.

Simply fill out the FinFind form (it takes about 15 minutes) by clicking HERE to find out what opportunities suit your business and / or what documentation you still need to apply to them.

If you still need documentation, simply refer back to step one and call our experts to sort you out in no time with your outstanding Company documentation.

Step 3: Apply for your personalised list of funding or loan opportunities

After you’ve made sure you’ve all the documents you need to qualify, FinFind searches over 300 funding opportunities to find the best fit for your business.

You’ll receive a list of personalised opportunities with the highest chance of success for your application.

Now it’s up to you to make the most of your nifty list. Apply to all of these opportunities, submitting all your required documents. Keep in mind these applications often take months to be processed by some funders or lenders.

If all goes well, you’ll be on a one way road to getting all the resources you need to grow your business into the Company of your dreams.

Requirements to access finance

Contact Company Partners today if you’d like to set your Business up for success on the following toll-FREE (from landlines), number: 0800 007 269.