Helping SMEs in SA subscribe to scaling success: While there is a need for small businesses to bolster economic recovery in South Africa, the barrier to entry for aspiring entrepreneurs to get their businesses off the ground is too high. The amount of capital required to simply equip a business with productivity tools like laptops and smartphones is too much to bear for many small businesses with growth potential.
This is according to the co-founder of on-demand subscription platform Rentoza, Mishaan Ratan, who has lived through this very struggle. When he and his co-founders saw their business grow from a staff complement of 4 to 54 in a matter of only two years, they found it difficult to keep pace with the financial demands of their infrastructure needs.
“We started our business with the idea to make hardware accessible to consumers,” says Ratan. “But given our own growth journey, we see that this is sorely needed in our country’s small business environment.”
As one of South Africa’s fastest-growing e-commerce businesses, Rentoza developed a model to drive access at affordable rates and flexible terms to essential items, such as consumer electronics, appliances, and baby goods. By simply paying a subscription fee, these products can arrive at your door and into your life with insurance cover and maintenance costs built into the subscription.
With his own experience in mind, Ratan says one needs a large capital injection to buy all the required equipment needed to scale up one’s business. “Scale-up fast enough and this could cost business hundreds of thousands of Rands before the markets turn again and the business is forced to scale down. What do they do with all that unnecessary hardware?”
It is time to change the way companies access their productivity assets like laptops, smartphones, tablets, and more. Ratan says, “The changes in ways of working in the last two years are here to stay and businesses need to focus on scalable productivity asset solutions that will keep productivity high while keeping costs at a minimum, no matter which way you need to scale.”
Although Rentoza has been offering hardware subscription services to consumers for some time now, it has now started focusing on businesses. “We can help you put devices in employees’ hands for a fraction of the price and match changing staff contingent size and needs as and when they change. You don’t need to spend millions when you can rather manage the churn effectively.”
Through a subscription model, Ratan says businesses are now able to scale up and down whenever the need arises with no added costs, just a simple monthly subscription amount per device that includes setup and insurance through reputable insurance providers.
“We believe businesses would benefit from this revolutionary new model to allow them to manage costs more efficiently and effectively within their companies, with real flexibility at the heart of our offering.”
For Ratan and his fellow cofounders, this business-to-business venture is close to their hearts. “We know what it’s like to struggle with the costs of doing business. In fact, the price of life today means that businesses are struggling even more to make ends meet. We hope that subscription offers the flexibility and relief that our SMME’s need to make it big in this country and in these times.”
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