New face of Foreshore

CTICC

THE R700 million expansion of the Cape Town International Convention Centre (CTICC) is under way with the selection of a team of architects to create a new centre which will change the face of Cape Town.

The expansion will almost double the size of the existing convention centre.

Yesterday CTICC chief executive officer Rashid Toefy announced the award-winning trio of Piet Bakker of Stauch Vorster Architects, Anya van der Merwe of Van Der Merwe Miszewski Architects and Mokena Makeka of Makeka Design Lab who will lead the expansion of “CTICC2”.

He said the expansion would create an iconic convention centre within the redeveloped Foreshore precinct which would include 10 000m2 of retail space, a hospital, hotel and an office tower.

An artist’s impression of what the Cape Town International Convention Centre will look like once a R700 million expansion of the facility has been completed.

It would also contribute to the regeneration of Founders Garden by the province, which will connect the Artscape precinct with the new larger CTICC.

The CTICC had received 688 bookings for events until 2018 and had to turn down other bookings and offers because the current venue was not big enough, he said.

“We can’t grow much further unless we have more space,” said Toefy.

Statistics showed that only 3 percent of “meetings” happen in Africa and the expansion would allow the CTICC to attract more conferences, Toefy added.

He didn’t regard other local convention centres, including Durban’s, as competition.

“We compete with other long-haul destinations. We also win eight out of 10 of our bids. As Cape Town we’ve got that X-factor,” said Toefy.

via New face of Foreshore – Cape Times | IOL.co.za.

The Basics of a Business Plan: Women24

Real Estate Business Planning by Diane Flannigan

If 2012 is the year you plan to start your own, then be sure that you have a good business plan in place. Here’s why.

A comprehensive business plan can mean the difference between seeing your new business flourish and having it fail before it’s even really started.

A business plan has two core functions. The first is well-known: it serves as a proposal to banks, leasers and investors when starting a business. The second purpose is to act as an operational document – a preset guideline – for when the business starts its operations. In both cases, a business plan is an essential and very useful document, and it is vital that you write one for your new business venture.

What is a business plan?

Essentially, a business plan is a document that explains and promotes a new or prospective business. Its goal is to explain what the business will achieve, why this product or service is needed and how the owner and stakeholders will operate the business. It acts very much like a jobseeker’s CV: it highlights the benefits, advantages and necessity of the venture, while outlining its future potential. A business plan should be concise, should only include relevant information and should highlight the benefits of the new business.

The parts of a business plan

·    Preliminary materials: Your title page, executive summary and project introduction.
·    Product or service: Describe what your new business is planning to offer the market.
·    Marketing and sales strategy: Describe why the product is necessary and important, and how you plan to market it to the public.
·    Organisational structure and personnel: Describe the form your business will take (for example, partnership or close corporation) and outline which skills and people you will need.
·    Legal requirements: Outline the laws and regulations your business needs to comply with.
·    Financial plan: Lay out the business’s budget, costs and other financial matters, like investment needs.
·    Risk strategy: Describe the biggest risks to your business and outline how you plan to mitigate or eliminate them.

Business plan as proposal 

A business plan used as a proposal should promote the new venture or idea to potential investors, banks and lenders, as well as to prospective business partners. It should emphasise the need and uniqueness of the product being proposed, and should chart the realistic future growth of the business. Keep the tone positive and promotional, but do not over-exaggerate the potential or financial returns of the business – it is better to underestimate and have bigger returns than to disappoint investors.

Business plan as operational document

A business plan used as an operational document should outline in relative detail the goals, intentions and milestones that the business aims to reach. It should serve as a roadmap for the business’s daily operations, in order to keep the operations on track and in line with the original purpose. Businesses run the risk of losing their focus as day-to-day upkeep overtakes the bigger picture: the operational business plan is a reminder of what the company wants to achieve, and how it plans to get there. Aspects such as the marketing strategy, future growth plans, legal requirements and the risk strategy are especially useful for this purpose.

The part-time University of Cape Town (Law@Work) Start and Manage a Small Business course starts on 13 February 2012. Call Nikita on 021 447 7565 or visit www.GetSmarter.co.za for more information about the course.

via The Basics of a Business Plan: Women24: Work And Money: At Work

Help in starting own business

Students from Stellenbosch University march to...

UNIVERSITY students in SA are less likely to follow up on plans for starting their own businesses compared with their international counterparts, and the number of students intending to start their own business after graduating has dropped due to pessimism regarding the financial crisis, according to a survey on global student entrepreneurial outlook.

This comes amid calls by business, government and civil society for more entrepreneurs to deal with SA’s unemployment crisis.

On Monday, President Jacob Zuma said governments could never be the principal providers of jobs and instead, jobs were created by successful, well-managed private-sector enterprises.

However, the 2011 Global University Entrepreneurial Spirit Students’ Survey released in September indicated that the majority of the 697 South African students surveyed at 15 universities who intended to start their own business had not taken any steps to turn their intentions into action, with only 18% having developed a business plan.

Dr Suzette Viviers, senior lecturer in financial management at Stellenbosch University’s department of business management, which co-ordinated the survey, said despite 70,6% of SA students viewing themselves as intentional founders of business, “considerably higher than the global sample of 42%”, the failure to take action meant SA was ranked lower on the entrepreneurship index.

The report concluded that the effects of the global crisis on small businesses’ survival rates and profitability contributed to students being more critical of employment options, including setting up their own businesses. The number of students who were planning to start their own businesses had dropped to 5% this year from 8% in 2008-09.

The “perceived barrier to obtaining start-up capital” was cited as a primary reason for failure to follow up on plans. Cheryl Nesbitt, nominated by Ernst & Young in its World Entrepreneur Awards Programme, last week said she had found it was still very difficult for start-up businesses to get loans from banks.

via BusinessDay – SA graduates ‘not keen on entrepreneurship’