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Supporting the engine of the economy

Retail Capital CEO Karl Westvig presented a cheque to the value of R50 000 to Adithi Rajkumar of Scribe Photography, the winner of their R250 000 “business makeover” competition.

The presentation took place at an intimate lunch at La Petite Colombe in Franschhoek, where Durban-based Adithi was joined by members of the Retail Capital team and select media.

A dynamic young woman filled with ideas and passion for her business, Adithi’s prize includes a cash component to the value of R50 000 to assist her in boosting her business, along with the opportunity to consult with Retail Capital’s team of business and marketing experts who will help her to develop a solid business plan for her future growth, compose a new marketing strategy, as well as offer her any assistance she requires in terms of design, branding, website and social media development to help in building and promoting her business through its next stage of development.

u|Chief chatted to Karl during a break between courses and asked him about the state of the SME landscape in South Africa. Karl highlighted how volatile the economy has been and how responsive SMEs are to political uncertainty as well as political stability.

“Since December we have had a huge uptick in confidence, and confidence equals investment. Businesses are borrowing more and ploughing it back into stock and expansion, so we are seeing a very positive look forward for SMEs right now,” said Karl.

“What business owners underestimate sometimes is that if you spend every day chasing your tail and you are spinning your wheels all the time, you don’t really have direction.” – Karl Westvig, Retail Capital.

Retail Capital offers support and funding for local SMEs, and it was this mission which sparked the inspiration for their business makeover competition.

“The idea was to encourage business owners to think about their business and think about where they want to be and what they want to invest in. I think what business owners underestimate sometimes is that if you spend every day chasing your tail trying to fill orders, trying to make sure things are happening, and you are spinning your wheels all the time, you don’t really have direction,” said Karl.

www.retailcapital.co.za