Small and medium enterprises (SMEs) are the backbone of South Africa’s economy, driving innovation, creating jobs, and fostering economic growth. However, these businesses often face significant challenges, particularly in financial management and access to resources. This is where the support and guidance of established corporate brands with proven track records become invaluable.
Old Mutual – A Legacy of Financial Leadership and SME Support
Old Mutual, a legacy brand in South Africa since 1845, has long been at the forefront of providing financial solutions to individuals, SMEs, and corporations across Africa, Asia, and Latin America. With its deep understanding of the local business landscape and commitment to fostering economic growth, Old Mutual is ideally positioned to support South Africa’s vital SME sector.
Recognising the unique needs of SMEs, Old Mutual has developed SMEgo, an innovative digital platform that provides SMEs with essential business-building financial and business management tools on an accessible, user-friendly platform. SMEgo is an all-in-one solution designed to assist businesses with operations, cash flow management, payment tracking, and even funding access.
A Plan for Every Business and Budget
SMEgo offers three tailor-made plans to meet the diverse needs of businesses at different stages of growth:
Basic Plan (Free)
The SMEgo Basic Plan is perfect for new businesses looking to leverage accounting software technology. It allows you to create up to 5 invoices, 2 quotes, and 2 customer statements per month. You can accept online payments for invoices and send documents via email or WhatsApp. The plan also includes the ability to apply for business asset insurance and track invoice payments. While it comes with access for one user, you can add one additional user for just R25 per month.
SMEgo Premium (R 99,99 per month)
Designed for growing SMEs transitioning from the startup phase, the Premium Plan offers unlimited invoice creation. You can generate up to 10 quotes, delivery notes, purchase orders, and customer statements per month. This plan introduces automatic invoice payment reminders and the ability to schedule recurring weekly or monthly invoices. You’ll also gain access to your business credit score and can add unlimited products, services, customers, and suppliers to your profile. The SMEgo Premium Plan includes access for two users, with the option to add up to four more at R25 each per month.
SMEgo Premium Plus (R 299,99 per Month, First Month Free)
The Premium Plus Plan is tailored for established SMEs requiring comprehensive accounting tools. It allows for unlimited creation of all document types, including invoices, quotes, credit notes, delivery notes, purchase orders, and customer statements. You can schedule automatic payment reminders and recurring invoices, check your business credit score, and track income and expenses automatically by linking multiple bank accounts. The plan also provides access to an interactive cash flow dashboard and allows you to add unlimited products/services and customers/suppliers.
Breaking Down Business Growth Barriers with Simplified Funding Access
One of the most significant challenges historically faced by SMEs has been access to funding. SMEgo addresses this issue by incorporating a funding component directly into the platform. This feature allows businesses to apply for targeted funding from multiple providers through a single, streamlined application process. To be eligible, businesses need a minimum annual turnover of R500 000, at least six months of trading history, CIPC registration. By simplifying the funding application process, SMEgo removes a major hurdle for growing businesses, enabling them to focus on expansion and success.
Spread Success and Reap Rewards with Refer & Earn
Recognising the power of community and networking in the SME sector, Old Mutual has also introduced the Refer & Earn programme. This initiative allows SMEgo users to share the valuable SMEgo platform with other businesses while earning additional income in the process. By referring new users to SMEgo, entrepreneurs can create a side hustle, receiving cash back for each successful referral. This not only helps spread the benefits of SMEgo to more businesses but also provides an additional revenue stream for existing users.
Powering the Future of SMEs
SMEgo is more than just a financial management tool; it’s a comprehensive business solution designed to empower South Africa’s SMEs. By providing accessible, affordable, and powerful tools, Old Mutual is reaffirming its commitment to fostering economic growth and supporting the entrepreneurial spirit that drives the nation forward.
To experience the benefits of SMEgo, visit www.SMEgo.co.za or download the SMEgo app from Google Play or the App Store. Register for free and start exploring how this innovative platform can help your business grow and succeed.
To find out more about how SMEgo can help your business grow, send an e-mail to smego@oldmutual.com. You can also phone (+27)21 137 6078 or (+27)67 718 5598.
