Being a “Tenderpreneur” in South Africa is surely not the easiest careers to have. It’s a career that involves a lot of social drama due to the number of corruption cases. It’s a career that’s aligned to a highly saturated market with a lot of competitors. However, even though being a “Tenderpreneur” can be very profitable, it is a career that seems to lack consistency as well as stability in income.
A few questions come to mind when I think about the positives of being an entrepreneur in this space, such as:
Is it possible to build a stable career through acquiring tenders in South Africa?
Does one require a lot of start-up capital in this space?
Are there schools or courses that can help and educate people on how to apply for tenders formally?
What is a “Tenderpreneur”
In South Africa, a tenderpreneur is a person in government or the private sector who obtains private or government tenders and contracts to facilitate outsourced services. The word tenderpreneur is a portmanteau of “tendering” and “entrepreneur”. –Wikipedia.
Growing a stable tender business can become very tricky, however, with a good strategy it can become a well fed cash cow.
Here are some tips on how to build a worthwhile strategy.
- Choose a tender market that is not saturated, one that has a few competitors.
- Acquire some tender submission training to ensure that your understanding is on par.
- Have a set amount of tenders that you can apply for on a daily/monthly basis.
- Set up a tender submission power team and ensure to include people who will be responsible and liable for different targets.
- Ensure that you build good relationships with reputable sub-contractors who will provide quality goods and services.
- Partner with a good capital partner.
- Save money after each successful tender, this will help build your capital fund.
For the most part, you would require start-up capital to start your business. It is difficult to average or recommend a specific amount as the capital depends on the the size of tender that you will be applying for.
The best way to fund a tender business in the beginning is to partner up with a reputable purchase order funding company. A company like “The Peoples Fund“ offers great funding products, good repayment plans at low interests rates.
Other purchase order funding companies:
- Brighton Capital
Tender Submission Training
I’ve only noticed private online courses that do assist with training and education on applying for tenders compliantly, however, it advisable to get a consultant on board who can assist with each and every tender as each tender can be unique is specification.
Here’s a consultant that has years of experience in the tender space, Sizani Lehapa | 0829637341 | email@example.com. This recommended consultant is our preferred choice as Busanitextiles for tender submissions.
My belief is that besides the popularity of corruption in our tender market, being a Tenderpreneur can be a good and sustainable career if the above pointers are adhered to. It is a space that requires good discipline and commitment to conducting business the right way. I believe that the more entrepreneurs we can filter into this space who have the right mindset, that we can change the perception of this market and use it to build the economy appropriately.