The concept of sustainability is one that has grown in interest over the last 20 years. Today, connotations surrounding what sustainability means when it comes to business, lies largely in the realm of consideration for the planet and the impact of business activities on the environment. But, what about becoming sustainable in other areas of the business? What does holistic business sustainability look like?
South Africa reports one of the highest business failure rates in the world, with 5 out of 7 businesses failing in the first year and 70% - 80% of SMMEs closing their doors within the first 5 years of business. Many businesses report that a lack of funding is a major obstacle. Having been a part of the SMME ecosystem for the last 15 years now, we’ve learnt many lessons and in observing the highs and lows of the entrepreneurial journey, made some notes on what exactly reaching a state of sustainability in business looks like.
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