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“I was a hairdresser for 18 years and I found it difficult to give up this work, but my husband needed me and I supported him,” she says.
She regards her husband as being very honest and straightforward, and says that he has self-respect and respect for his fellowmen.
“All of these are qualities that have contributed to his success. He knows the meat industry and if he knows that lamb is going to be cheaper next week, he will not allow a customer to buy a whole lamb now, when it is more expensive,” she says by way of an example of his attitude towards his clients.
His hard work from the start was not without its rewards and within the first three months he had doubled the previous owner’s turnover. A year later he had fully repaid his debts to both the bank and his father and was still satisfied to make do with a meagre monthly salary.
”One of the most important reasons for the success of my enterprise is that I am honest towards my clients. That makes them trust me. I am also honest towards my employees and I pay them well.
”I reinvested my surplus in my business and bought machinery, a bakkie and larger refrigerators,” Slabbert recounts.
He built a house for which he paid cash and never incurred any debt again. In 1996 he bought his own building and presently provides employment for 45 people. During the festive seasons he needs more staff, because his products are in great demand.
“If you look after your people, they will look after you. I get offers of meat from all over the country because my butchery has such a good reputation,” says Slabbert.
At present Slabbert is building his own factory where he will process his meat. He is already a bulk supplier to local supermarkets and various butcheries as well as to other smaller shops.
“Besides the fact that you have to be tough and resourceful when you start your own business, there are also other factors that must be taken into account. It isn’t really a good idea to borrow money, because your debt simply doubles with all the interest you have to pay.
“My advice to beginners would be to start off a business with a large investor who can be trusted. The alternative, if you have no money, is to start small, as I did. To start on a smaller scale is more difficult, but in the end you are your own king.”
(Source: Die Burger , 5 July 2003 - translated)
| Learning Outcomes |
| (LOs) |
| LO 4 |
| Entrepreneurial Knowledge and Skills The learner will be capable of demonstrating entrepreneurial knowledge, skills and attitudes. |
| Assessment Standards(ASs) |
| We know this when the learner: |
| 4.1 identifies financial institutions and organisations promoting entrepreneurship; |
| 4.2 discusses different ideas for starting a business (including ideas to attract tourists, franchising); |
| 4.3 differentiates between the forms of ownership in both the informal and the formal sectors (sole ownership, close corporation); |
| 4.4 evaluates the financial viability of a business (e.g. initial costs, production costs, sales and profit); and |
| 4.5 engages in a business activity that involves purchasing, production and marketing (should involve financing of business with own or borrowed capital – e.g. bank overdraft). |
ACTIVITY 1
ASSIGNMENT
Borrowed bakkie.
Wife’s income.
Loan from father.
Bank loans.
Large concerns.
Foundations such as that of Mark Shuttleworth.
Department of Trade and Industry.
State-financed structures.
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