Veteran Wear
| Business Location: | Rural |
| Province | Mpumalanga |
| Branch: | Nkangala |
| Business Start Date: | 2021-09-01 |
| Busniess Type: | Sole Proprietor |
Business Dynamics and Challenges
Business Activities:
The business specialises in the production and sale of customised clothing items, including bucket hats, dappers, sweaters, hoodies, T-shirts, and other branded or printed garments.
Challenges/Needs:
A comprehensive assessment was conducted, and the following challenges were identified:
• Limited access to local markets and absence of promotional marketing materials.
• Gaps in business management skills, particularly in financial management, business planning, and marketing.
• Insufficient and outdated operational equipment.
• Lack of funding to acquire essential machinery, including an overlocker clothing machine.
Intervention Insights and Results
Intervention Details:
In response to the challenges identified, the following support was provided to Veteran Wear:
• Basic business skills training to improve management capacity.
• Access to local markets through participation in a pop-up market.
• Basic business skills training to improve management capacity.
• Access to local markets through participation in a pop-up market.
Outcome Details:
The interventions yielded significant improvements in the business’s performance:
• Turnover Growth:
Participation in the pop-up market led to an increase in revenue from R60,000.00 to R74,400.00, reflecting a 24% growth (R14,400.00 increase).
• Profitability:
Net profit increased from R15,534.00 to R32,754.00, marking a gain of R17,220.00.
• Employment Creation:
The business expanded its workforce from 1 to 2 employees, contributing to local job creation.
• Turnover Growth:
Participation in the pop-up market led to an increase in revenue from R60,000.00 to R74,400.00, reflecting a 24% growth (R14,400.00 increase).
• Profitability:
Net profit increased from R15,534.00 to R32,754.00, marking a gain of R17,220.00.
• Employment Creation:
The business expanded its workforce from 1 to 2 employees, contributing to local job creation.
Client Feedback
Client Comments:
"Basic business skills and pop-up market assisted the company through being recognised and improves the demand of products".
