According to the FinMark Trust results of the FinScope South Africa 2016 Survey, businesses, large or small, fail, largely because of:
- Lack of clarity on their strategies
- Failure and or reluctance to execute
- Lack of monitoring and evaluation
- Inadequate business proposals for funding purposes.
The FinScope Survey, developed by FinMark Trust, is a research tool to assess financial access in a country and to identify the constraints that prevent financial service providers from reaching the financially under- and un-served people. The FinScope Survey is a nationally representative survey of how individuals source their incomes and how they manage their financial lives. It also provides insight into attitudes and perceptions regarding financial products and services. To date, FinScope Consumer Surveys have been conducted in 27 countries including South Africa, where it has been implemented annually for the past 14 years.
We, as Maltec Consultants have also found the above considerations to be true and we are inspired to fill in this gap and assist businesses achieve their long term strategies.