 |
What form of business is best?One of the most important things you need to do is to decide what form of business your SME will be? There are many forms of businesss: from sole proprietorships, to partnerships, to CCs, to PTY LTDs. The most likely form for your small business will either be sole proprietorship or a close corporation. |
DBN financed peanut butter targets export market
Namibia's first locally produced commercial peanut butter, Mr Peanut, not only earns proceeds locally, but plans to earn foreign revenue for the country through exports.
Owner of Ndeya Manufacturing and Service Providing, Ottilie Haufiku who produces Mr Peanut, says negotiations with key distributors are underway to export the product to Angola.
Haufiku became the first recipient of the DBN's Innovation Fund in April 2009. The DBN funded the operation to enable Haufiku to increase production. The funds were used to purchase raw materials to meet increased demand.
Since establishing her company in 2004, Haufiku has grown her client base from supplying households in Katutura, to providing her product to the Ministry of Education as she subcontracts to a caterer that supplies schools with various food items.
"Production increased from 500 to 2,500 bottles of the 500g jars per month, while bulk supplies of 20 litres drums increased from an average of 30 drums a month to around one hundred," Haufiku notes. The drums are for the schools.
Mr Peanut is available at all Pick n Pay stores countrywide and Haufiku continues to negotiate deals with established retailers interested in selling her product.
Haufiku, who started producing peanut butter from her family kitchen in Katutura and who moved to the Katutura Incubation Centre in 2009, now operates from the NDC Industrial Park in Ondangwa.
"I moved my operations to the north due to proximity to the ground nuts, which I source from the Etunda irrigation scheme. I still get packaging material from Windhoek, but transport for this is cheaper than that for the ground nuts."
Haufiku passed this saving on to her clients, keeping the price per jar competitive at a retail price of N$ 11.95 per 500g. Haufiku, who employed temporary workers depending on the orders received, now employs three people on a full-time basis.
- DBN AfriSam 2010 partnership trains tomorrow's entrepreneurs
- DBN finances Lüderitz Abalone Farming
- Owners' equity a vital pillar for sustainable business
- N$ 100 million commitment and contract as collateral
- DBN funds affordable, innovative building system
- DBN finances tertiary education infrastructure
- DBN makes N$ 1 million donation to flood-affected schools
- DBN announces new projects
