Do you have a cash kitty to invest in your new business idea?

227_1At a small rural town that I was visiting I came across an interesting business relationship between a butchery and a small micro-enterprise trading on the street cooking and selling meat products from the butchery. The small enterprise, run by a husband and wife team, had set up and warning canopy and were grilling boerewors (farmer’s sausage) and vetkoek (fat cake) and curried mince. They were doing a brisk trade because many people were stopping at the parking area which also led onto a liquor store. The butcher benefited because customers could taste his meat cooked outside and the small business benefited from the quality of the meat products as well as the steady stream of customers that flowed into the butchery. Continue reading “Do you have a cash kitty to invest in your new business idea?”

How come Lotto winners lose their money so quickly?

Hot Lotto logo
Hot Lotto logo (Photo credit: Wikipedia)

One of the national weeklies carried a story on a man from Durban who won R10 million and within five years he lost it all.

Research shows that up to 70% of lottery winners lose or spend all of their money in five years or less.

With high amounts of personal indebtedness and small businesses going into liquidation in huge numbers just what is it that causes people to crash into financial problems.? Some pay their debts off but end up in catastrophic financial trouble again. Continue reading “How come Lotto winners lose their money so quickly?”