By Phesheya Mkhonta
We are just from the ‘season of giving’, and as a testament, we’ve witnessed the ‘Business Baby Shower’ concept being embraced locally as friends recently celebrated renowned Money Coach Vuyo Khumalo’s business venture, Money EQ, as a means to shower her with support for her venture.
Baby showers are heart-warming and a wonderful concept. A baby shower is basically an event that is hosted to celebrate the impending birth of a baby. It’s a celebration and also a way for friends and family to help the new parents get everything they need as they transition toward a new exciting reality.
Now, imagine the same concept being applied to business start-ups. The idea of friends and family coming together to celebrate the establishment of a friend’s new business is indeed inspiring.
Essentially, a ‘Business Shower or Business Baby Shower’ is organized to celebrate the birth of a new business or start-up and mark the milestone of celebrating a new addition to the family by an entrepreneur’s friends and family who come together to announce their friends’ entry into the business through celebrating them and bringing resources for their business.
The reality is a majority of businesses fail in the very first year of existence. In most cases the failure is financially related, so, much-needed financial (and other mental or physical) resources go a long way in assisting new business owners.
So maybe it is time we took it upon ourselves as EmaSwati to embrace this concept wholeheartedly, especially because of the high unemployment rate in the country. The United Nations Development Programme (UNDP) in a report states that tertiary institutions in the country produce 4 000 graduates every year. And, let’s face it, the corporate sector cannot absorb all these graduates, the successful establishment of SMEs is therefore pivotal in this regard, lest we breed an increasingly unemployed generation.
To achieve this threshold, it is imperative that we support and celebrate our budding entrepreneurs, whether through celebrating small and big wins, promoting their business, sharing their posts on social media, buying their products or paying for their services, offering financial assistance and so much more.
It is pleasing to note that as a country we aren’t lagging behind in this regard. Inside Biz resident personal finance writer Vuyo Khumalo has been a recent recipient of a business shower, which was organized by her best friends. As part of her ‘shower present’, her friends gave Vuyo a lump sum which will assist her as she navigates the often tough and lonely entrepreneurial terrain.
Khumalo is a certified Money Coach and also the founder of Money EQ which provides behavioral money coaching and financial education to individuals and groups, with the goal of helping them transform their relationship with money and create financially fulfilling lives. The company helps individuals uncover money beliefs and also understand how they influence money behavior.
As a coach, she creates strategies on how to overcome any challenging behaviors and also teaches basic principles of personal finance covering, creating income, spending, borrowing, investing and saving, and protecting your income.
Explaining the motivation behind hosting the business shower, Vuyo’s friends had this to say, “Vuyo, we want you to know that we are so proud of you, how you’ve been bold and followed your passion and are now living in your purpose. Your corporate and individual client base is growing from strength to strength, and it is our hope that our business shower gift confirms to you that you are on the right track and are doing amazingly! Money EQ is growing from strength to strength and you inspire us so much.’’
Vuyo expressed her heartfelt appreciation for this grand gesture and encouraged others to do the same for their friends and loved ones venturing into the business world.
Vuyo further revealed that she will be hosting a series of live workshops over the next few months on different areas of personal finance management, under topics such as financial goal setting, easy budgeting, and beginner-friendly investing.
To learn more about Vuyo’s basic money principles of ‘’Heal. Grow. Thrive’’ and to book your own money coaching session, you can reach her via 7802 1682 or through her website www.money-eq.com or by sending an email to: email@example.com