Old Mutual, a financial services and investment group have said small businesses in South Africa need to plan carefully to profit from the mass move to South Africa that will take place for the 2010 world cup.
Old Mutual have offered advice to small and micro-business in South Africa to plan carefully in preparation for the flood of half a million football fans that will enter the country.
Old Mutual advised that it was important for medium, small and micro business owners not to over invest in stock as that could result in an excess of unsold stock at the end of the tournament; while on the other hand being too cautious with stock investment could result in a missed opportunity.
Andre Diederichs, Old Mutual’s small medium and micro enterprises said:Â “The capacity to balance supply with demand when some 500 000 foreign soccer fans converge on our country’s shores for next year’s soccer World Cup spectacle will largely determine the level at which South African businesses will be able to capitalise on the event.â€
He went on to say:Â “One way to manage stock levels is through prior arrangement with suppliers to be on stand-by, even after-hours, for sudden shortfalls in your business â€“ whether it be a restaurant, gift shop, small retailer, or other business.”
The world cup is set to create growth in a number of areas, of which small business are one.Â The public transport system will get an overhaul with a new bus system, and the number of people on a South African visa (the â€˜event visaâ€™) will skyrocket.
AUTHOR: Matt Jones
DATED: 21st September 2009