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#EntrepreneurCorner: Understanding procurement for the retail and wholesale sectors

Nov 23 2017 13:43
Liziwe Ndalana

Cape Town – In this week’s episode of #EntrepreneurCorner, guest expert Mishinga Seyuba Kombo from the Pick n Pay Enterprise Development Academy unpacks the procurement process for the retail and wholesale sector.

As an entrepreneur, before you become a vendor or supplier, it is important that you are properly regulated, which includes business registration and ensuring that your business is BEE compliant, says Kombo.  

Kombo emphasises that the academy's goal is to ensure it sticks to what it knows best - and that is providing access to markets.

However, she adds the academy also realised that business owners sometimes struggle with cash flow management.

As such, she says the academy tries to bridge the gap by helping entrepreneurs who may be struggling to meet their obligations due to cash flow challenges.

This is done by linking them up with funders, such as the Small Enterprise Development Agency, known as Seda, the Small Enterprise Finance Agency (Sefa), or Department of Trade and Industry, and others.

WATCH last week's episode of #EntrepreneurCorner: Taking advantage of festive season buzz

Kombo says a benefit of being registered as a vendor with them is that if you've been doing business with the academy for six months or more, they pay you seven days early to ensure that you meet your supplier obligations.

WATCH this week's #EntrepreneurCorner episode here:

Did you find this useful? We need your input to identify your most pressing issues. Send us your questions. Our resident coach Anton Ressel or one of our experts will answer as many as possible in future shows. You can also engage with us on Fin24's Twitter and Facebook   pages. Look for our hashtag, #EntrepreneurCorner.

ICYMI, Watch the previous episodes of #EntrepreneurCorner below:

WATCH: #EntrepreneurCorner: Delegating for success

WATCH: #EntrepreneurCorner: Surround yourself with smart people

WATCH: #EntrepreneurCorner: Incubators require commitment

WATCH: #EntrepreneurCorner: Upscaling is about your customer

WATCH: #EntrepreneurCorner: Don't obsess over protecting your idea

WATCH:#EntrepreneurCorner: Why it's crucial that you pay yourself first

WATCH: #EntrepreneurCorner: Make it easy to do business with you

WATCH: #EntrepreneurCorner debuts: The funding conundrum

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