Page 55 - NEDBANK YES BOOKLET

Section 14 Section 15

Making a good impression Alternatives to formal employment

Starting your own business
According to Wikipedia, entrepreneurship is a process of designing, launching
and running a new business, which is often initially a small business. The people
who create these businesses are called entrepreneurs. Entrepreneurship is quite
a broad term, as you can be an entrepreneur in just about any field or industry of
your choice. However, you need to find a field to work in and start the business. It
is important for young people to know that being employed by someone else is not
the only way to earn income.

IMPORTANT

Nedbank has developed a guide to introduce you to some of the basic decisions
that every business owner has to make. This will better prepare you for your
engagements with the bank and help you avoid common mistakes so that you
are set up for success from the start.

Visit nedbank.co.za/business/small business services to access a copy or access
the document on the following link:

https://www.nedbank.co.za/content/dam/nedbank/site-assets/Business/
Brochure/Essential%20guide%20for%20Small%20Business%20Owners_
Nov%202017.pdf

In this resource you will find information about dealing the business basics like
choosing a business entity, registering your business and tax considerations
as well as keeping financial information (business plans, financial tools and
understanding financial ratios) and managing your banking relationship.
Frequently asked questions

What does it take to become an entrepreneur?

It is important to not only find a business that will be successful, but it must be
something you are passionate about and that other people will find useful to
them, that is, there has to be a market.

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