There is a classic quote from the legendary Richard Branson, who is famous for founding the billion dollar business empire, Virgin Group. It says: “Do not be embarrassed by your failures. Learn from them and start again.”
It is possible that Branson might have been observing South African small businesses for a while – most of which statistics indicate do not survive beyond the first year of existence.
It is gravely concerned about the growing trend of stillborn businesses that Precious Mvulane decided to stem the tide. After toying with different ideas, she settled on writing a How-to-Book.
Then, she condensed knowledge gathered from years of working as an accountant and auditor for Ernst & Young into a journal, The Essential Finance Handbook for Business Owners.
“I have mingled with a cross section of people, who taught me to value personal relationships and most importantly to have attention to detail of most basic things in business, which people take for granted,” she explains on the importance of information to small business owners.
In her previous employ, Mvelane ensured that she learned from her immediate bosses and management about the financial management side of an organisation. This is one of the factors that inspired her to produce her book. “We are all shaped by the good character and benevolence of others,” he says.
So far, she describes the public response to her as “way beyond expectations”.
Besides being an accomplished author, Mvelane is the founder and director of GAD Consulting Services Inc whose core business is providing financial advisory services to small businesses and NPOs.
So far, Mvelane says she is impressed by progress. “So far, so good I feel fulfilled making a difference to the health of small businesses.”
Mvelane’s inestimable asset is her confidence. She has an unflagging determination to see her plans in whatever she does succeed. “One’s disadvantaged background is not, or should not be, an impediment.
Her objective is seeing many small businesses understand the importance of instituting basic management structures.
The common criticism about South Africa’s approach to small business development is that it attempts to do many things at once, which ends up with no tangible progress in any of the areas. Instead, Mvelane believes the right approach would be focusing on top five industries that are thriving.
