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Cape Regional Chamber

19 March 2009

I got to attend a meeting of the Cape Regional Chamber this week and got to listen to Prof Wolfgang Thomas from USB chat to us about the challenges of working in a small business in these economic times.

 Here are just a few points to ponder on:

Stay away from businesses in or related to any of the following:

 

  • Motor Vehicles
  • Mining Sector
  • Tourism
  • Building
  • High-end specialty services or products

 

These areas have and will continue to show negative growth for some time.

Get involved in:

  • Functional foods and services
  • Lipsticks (this is a very interesting one)
  • Bottom of the pyramid products

 Action to take:

  • Reduce costs at every point of the supply chain
  • Improve efficiency
  • Maximize production
  • Sharpen advertising efforts
  • Continue to build value add business channels

 Never:

  • Cut back on Marketing
  • Cut back on training
  • Cut back on education
  •  Reduce the BEE programmes
  • Stop CSI

 Some interesting food for thought: If you need an explanation on any of these give me a click back and we can chat. Lets build together to survive these times. 

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