Novuyo Supermarket (Pty) Ltd
| Business Location: | Rural area - Villages |
| Province | North West |
| Branch: | Dr Ruth Mompati |
| Business Start Date: | 2022-07-02 |
| Busniess Type: | Company |
Business Dynamics and Challenges
Business Activities:
Novuyo Supermarket (Pty) Ltd is a retail store that is slowly developing into a fully-fledged supermarket. The store is in Norlim Village within the Buxton area. Novuyo Supermarket (Pty) Ltd is owned by Mr. Temoso Mtabane. The owner is a young person who got interested in taking over the business after the passing of his grandmother, who is the initiating owner of the business. The company is currently selling groceries to the local market at regular retail pricing. Mr. Mtabane made a compromise considering the living conditions of his primary market, to offer small credit purchases to select customers. Novuyo Supermarket (Pty) Ltd secures its revenue from cash sales and a larger percentage of stock is depleted through cash sales. Novuyo Supermarket (Pty) Ltd was incorporated into a private company with the Companies and Intellectual Properties Commission (CIPC) on the 2nd of July 2022.
Challenges/Needs:
The client visited SEDA with an aim of getting assistance with access to financial support for the purpose of expanding the business and increasing product lines. A Gap Analysis assessment was conducted, and a few challenges were identified. The business premises needs to be upgraded to ensure safety and security. The current bakkie is too small for stock and delivery purpose.
Intervention Insights and Results
Intervention Details:
Seda’s diagnostic assessment revealed that there is a need to assist with access to finance. The owner was taken through training on Basic Business Skills and assisted to complete and submit TREP application. The business was supported with a Point-of-Sales device to simplify operations.
Outcome Details:
The business’ turnover has increased from R350 000 to R1 170 660. The business managed to sustain current employment and increased with 3 staff members. The TREP application is still pending and said to be at the approval stage.
Client Feedback
Client Comments:
“Thank you very much for all the support, my business is growing, although theft is still a problem around here.” Mr. Mtabane said.
