Ryno de Kock, Head of Distribution at PSG Insure

The keys to unlocking business success

While South Africa faces ongoing challenges such as rising operational costs and sluggish growth, it’s essential for business owners to continue to find ways to adapt, persevere, and innovate to stay ahead.

This Global Entrepreneurship Week, Ryno de Kock, Head of Distribution at PSG Insure, says now is a good time for entrepreneurs to pause and take stock of their own capacity. “Focusing on financial literacy within your business, particularly having financial protection in place, such as in the form of short-term insurance, will give your business an edge,” says de Kock.

“Financial literacy isn’t only about crunching numbers or balancing books. It’s about knowing how money moves through your business, understanding risk, preparing for it, and making smart decisions when things get tough.

“It’s about doing the best for your business, identifying potential risks, and making decisions that protect your daily operations while allowing you to grow, without having to start over every time there’s a setback.”

Failing need not be because of a lack of insurance

Too many businesses fail not because their ideas are bad, but because of money mistakes like underinsuring, poor cashflow management, or overly ambitious expansion plans without a safety net. Statistics show that only about 20-30% of South African small businesses survive beyond five years, as one example. In an economy that is this unpredictable, de Kock believes that statistics won’t improve unless more business owners truly consider the risks they face.

Theft, cybercrime, fire, or property damage can strike without warning. For an uninsured business, that’s often the end of the road.

“And that’s why insurance needs to be part of every financial literacy conversation,” he adds.

Insurance comes with many benefits

Commercial insurance gives entrepreneurs breathing room when disaster hits. Property cover is to replace or repair a leaking roof, while contents cover protects against stolen stock; liability protection handles legal claims, and business-interruption cover helps replace lost income when operations stop.

“Insurance gives entrepreneurs the confidence to innovate and invest in growth,” says de Kock. “It allows them to focus on building their business, rather than constantly worrying about what could go wrong.”

Working closely with an adviser makes it possible to cover any gaps in insurance. “Entrepreneurs who work with experts, and who invest in their own development and understanding are better equipped to make sound decisions. The combination of knowledge, planning and protection separates businesses that survive from those that thrive.”

Protection and innovation go hand in hand

Global Entrepreneurship Week is a celebration of courage, creativity, and the determination to turn ideas into impact. But it’s also a reminder that passion alone isn’t enough. South Africa’s business community is one of the country’s strongest engines of jobs and growth — yet too many entrepreneurs are just one tough month away from closing their doors.

Real success begins with clarity: knowing your numbers, understanding your risks, and protecting what you’ve built. Financial literacy and solid insurance aren’t luxuries, they’re the foundation that allows ambition to multiply.

“Knowledge is power and the more you know, the stronger your business becomes,” de Kock concludes.