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Johannesburg - Being innovative and staying resilient through tough economic times should be a key focus for all entrepreneurs and business owners, says head of FNB innovation Yolande Steyn.
It is estimated that around 80% of start-ups in South Africa fail in the first year. Yet, small businesses are seen as a catalyst for the growth and development of the South African economy especially by creating employment opportunities.
Hence, the importance to support these businesses cannot be understated.
"South African entrepreneurs require enabling platforms that will help them get going faster, grow quicker and operate more efficiently," Steyn explained.
She said that FNB offers a number of business innovations that budding entrepreneurs can make use of.
One way that FNB enables innovation is through their Innovators programme that has rewarded staff with over R42m in prizes since its inception in 2004.
In addition the bank also supports South African innovation through the funding and support of a number of programmes that accelerate innovation and entrepreneurship.
She pointed out that a shift in the current business mind-set is needed.
"By encouraging and adapting to new technologies we can all make a difference," Steyn said.
