Today Vuyisile is coming to my office with the names of 3 trustees to set up a Trust which is a type of company. A Trust is often a good way to start a company as it involves at least 3 people ( minimum) and is essentially a non-ownership company. A Trust can make money and this money is placed back into the business which is a really good thing for a fledgling business. Many times I have seen small businesses start and all the income is drawn to pay off debt or purchase unnecessary items. A trust also helps start a business because there is no shareholding. This means that there is less paperwork and all are equal. I also like the fact that Vuyisile has co-opted a few of his judges and organisers to become trustees based on their hard work and dedication. This is real BEE, and these are the guys who will promote the business on the ground.
Its amazing how the concept is coming together. A massive interest is being shown on the ground for the product as a tournamnet spectacle, and possibly a TV show, a new company is being born with great management, and a myriad of business opportunities are being discussed with a host of role-players.
Business opportunities such as a T-shirts, a photo-novel, a TV docuemntary and reality TV show, tournaments, sticks and rule books, fighting fitness routines, clubs for young men. I am sure there are more angles.
Once we have registered the company all of this will come together. I already have an offer from the provincial government department for funding for the tournaments and social clubs.
I will post the You Tube video later today!