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Here’s how to turn your side business into a thriving business

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Many South Africans have started parallel battles during the COVID-19 pandemic to earn extra money.

If you are one of those people, you may be considering turning this into a full time business.

Click here to learn more about Sage Small Business Solutions.

Some of the country’s most successful businesses started out as side scrambles, thanks in large part to South Africans who were passionate about making a difference.

For example, Bio-scientists Andile Gcaza and Phetole Raseropo founded Evergrow after being frustrated with the price of healthy food in supermarkets. Evergrow sells high-yielding, fast-turnover vegetable plants to small, subsistence farmers in rural and peri-urban communities.

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They didn’t have the money, tools, or resources to start Evergrow, but they saw a problem and found a way to fix it using these four steps:

  1. Start with a seed – You have a problem to solve.
  2. Plant the seed – Find a customer who is willing to pay to have the problem resolved.
  3. Maintain its growth – Seedlings need the right amount of water and sunlight to germinate. What comes next in your business depends on how you nurture it.
  4. Learn as you grow – Starting a business is five times harder than you think, but the rewards are worth every sacrifice and every failure.
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If you have secondary restlessness, you’ve probably already done the first two steps. Now is the time to move on to steps three and four.

Starting your business

If you want to turn your secondary activity into a full-fledged business, you must first decide on the structure of your business. This includes determining how the business operates. Will you be trading as a sole proprietor or will you be a registered company?

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Each of these options offers unique advantages and disadvantages, and the best option will depend on the nature of your business.

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You must then formalize the details of your business. What’s her name? Where are you going to operate from? How are you going to name your website?

Depending on the industry you operate in, you may also need to register with the appropriate regulatory body.

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Get the right software

Once you have made these decisions, you need to research the best software to help you achieve your goals.

This includes an efficient accounting and payroll solution to streamline your financial processes – including invoicing, cash management, supplier payments, VAT returns, and employee payments.

That’s where Sage comes in, delivering the best cloud-based accounting and payroll software solutions for small businesses.

Sage Business Cloud allows you to easily process payments and financial transactions.

This allows you to focus on your daily business tasks rather than spending hours trying to complete your financial tasks manually.

Click here to learn more about Sage Small Business Solutions.

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