Helping aspiring entrepreneurs bring their business ideas to life
With unemployment at an all-time high and the economic impact of Covid being felt, many people have been left with no choice but to start their own businesses. Sadly, according to statics, 50% of small businesses fail within 24 months of launch. Research done by the University of the Western Cape showed that between 70% and 80% of small businesses fail within five years. This is a significant number. One of the primary reasons small businesses fail is a lack of planning or a rock-solid business plan. What you think sounds like a good business idea on paper may not fare so well in reality. Most businesses are brought into existence for survival. The business owners simply register a company and hope everything will be fine. There is no detailed plan on how the business will be run, and there are no well-defined short-term and long-term goals. As a result, there is no understanding of costs, responsibilities, markets, funding needs, and other business requirements.
Entrepreneur and Chartered client Megan Stark and her business partner were all too aware of the challenges faced by entrepreneurs. So, with a passion for helping aspiring entrepreneurs bring their business ideas to life, Hola Business was formed. Hola Business is for any aspiring entrepreneur serious about turning their idea into a profitable business. It was developed specifically for South Africans, informed by the country’s legal, tax and business environment, and caters for all age groups.
Through 12 online modules and over 30 hours of interactive training material, users are walked through the entire business and financial planning journey. While gaining start-up skills and knowledge, they develop their own business and financial plan as they learn. The information captured by the user is automatically populated into a pre-formatted, professional business plan template which can be presented to potential investors. Some examples of the modules that users cover include: cycles of your business, from ideas to plan, business planning, financial forecasts, understanding costs, pricing for profit and marketing for start-ups.
Additionally, the course includes a fun-to-play business simulation where users can see how their decisions impact the businesses, and in doing so, they can learn and sharpen their business skills before launching their own business.
This project, finalised and launched during lockdown, is what Megan calls her passion project, and she has a deep desire to empower and help other entrepreneurs succeed. Her passion, vision and motivation, all characteristics required to be a successful entrepreneur, shine through in this project.