South African small businesses celebrate their business successes like no other country
Research from Xero underscores South Africans’ unique approach to entrepreneurship, with 92% marking milestones
Xero, the global small business platform, has published new independent research revealing South African small businesses celebrate their milestones the most out of seven countries surveyed. South Africa topped the charts for recognising achievements with 92% reporting they currently celebrate, or plan to celebrate milestones well ahead of their peers in other countries.
The study, which surveyed 300 South African small business owners, along with their counterparts in the UK, the US, Canada, Australia, New Zealand, and Singapore, highlights the moments that are critical to small business success. Xero undertook the study to encourage small business owners to recognise their hard work and achievements, reinforcing that acknowledging small wins is as vital as the wins themselves.
Milestones that matter
More South African small businesses reached a milestone within the last three years (86%) than any other country surveyed. The top three milestones are the ability to pay themselves (55%), having repeat customers (55%) and receiving positive reviews (49%).
Making money (67%) and making themself proud (61%) are the top motivators for South African small business owners. Other key drivers include making those around them feel proud (41%), followed by solving a real problem (41%), along with contributing to the community (38%).
Colin Timmis, Regional Director EMEA at Xero said: “These results reflect the optimism, ambition, and pride of self-made businesses in South Africa, who despite facing unique challenges, take the time to celebrate their successes, big or small. Running a small business isn’t easy, but stopping to celebrate those moments is all part of the journey. From making your first sale to getting a five-star review, every win is worth celebrating, and doing so can unlock more growth.”
Small business owners in South Africa acknowledge the positive impact of celebrating success on employee morale (92%), performance (89%) and believe it has an overwhelmingly positive impact on their energy (85%), motivation (88%) and happiness (75%).
Taking time to recognise a milestone
Celebrating a milestone in South Africa most commonly involves the small business owner treating themself (40%), running a customer giveaway (27%), hosting an event (22%) and highlighting employee contributions with awards (20%).
Emma Kaye, founder and director of dog food brand Happy Hounds, explains that her team celebrates daily wins to foster a culture of collective achievement and workplace happiness. Happy Hounds has achieved many notable milestones including opening their commercial kitchen, hitting R1 million in revenue.
“A stand-out moment for me was when a customer walked into the shop and burst into tears, saying ‘thank you for giving me my dog back,’ after seeing the change over four weeks on a Happy Hounds diet,” says Kaye. “Knowing we have a real impact on improving the lives of dogs and their families is huge. It’s what drives us.”
The full report is available on Xero’s website.
