Start Up Services

We support the growth and development of entrepreneurial ventures.

Improve your chances, not only of survival but to grow and expand your business by drawing on the business development know-how and full range of support services provided through the Biz Venue Hub. Your business is set for success as you take advantage of our services and share experiences with similar or related operations in the hub.

Capital Investment:

Many businesses fail because of lack of funds. Before you even look for suitable business ideas and opportunities you should determine how much money you have to invest or whether or not you can attract finance through potential investors. You should also look at your borrowing power and the equity you have to put down as collateral when borrowing funds.

Your financial position will greatly influence the type of business you pursue.

Business Skills:

Many people become over-zealous with their current positions in life, and they hastily pursue any opportunity that comes their way to improve their standard of living. A fatal error made by many of these individuals is not acquiring the necessary business skills before committing to a business venture. You would be wise to acquire the necessary skills before taking the leap into the business world.

Passion:

An attribute that injects the motivation within you to continue with any business venture is passion. If you lack the passion in your business endeavours you will soon lose heart and quit when the challenges in the business world strike with force. Possessing passion in what you do is an element that will catapult you toward success.

Saturated Markets:

Performing a thorough feasibility study before committing to a venture is integral. You will need to look at your target market and determine whether there is a need for what you are offering, and if the need does exist you will also have to evaluate how many other competitors are offering a product/service that is currently fulfilling this particular consumer need. Entering markets that are over-supplied and saturated is a recipe for disaster.

Location is Paramount:

If you decide to look for business opportunities in the offline world, and you manage to find one that suits you, your next task will be to find a location that is accessible to potential customers, and suppliers. You will also need to take factors like security, parking facilities and proximity of competitors into account.

When you have analysed the business ideas out there, you should formulate a business plan. It is imperative that you structure a detailed business plan as this will help you to attract investors and it will also provide you with an element of leverage if you are approaching a bank for a loan.

Market Demand:

Another pertinent variable when analysing business ideas is evaluating the size and demand for the product or service. The number of people who need the product will significantly alter the overall potential of the opportunity. A larger demand and market size equates to a greater number of potential sales and this will affect your bottom line considerably. Segmenting the market and evaluating statistics data in terms of specific demographics will assist you to assess the size of the market.

Scalability and Diversity:

Many business ideas and opportunities can be exploited in the future because of the scalability of the idea. What that means is that the idea offers room for future growth and expansion. The ability to expand one’s business will help to increase profits but beside the profit potential that is on offer, by diversifying your offering you can actually lower risks. Variety can help a business target a different segment of the market and this will essentially cushion the business if one segment of the market becomes volatile. /p>

When analysing different business ideas you should look at the idea and the future room for growth. Is the opportunity scalable? Can you diversify your offering in the future?