We reflect on a challenging yet rewarding year Through investment in Social Enterprise initiatives and in companies which provide both good returns and steady dividend income, LIV Business shall strive to continue to provide LIV Village with a reliable source of funding to support its operations whilst building a vehicle to implement broader change.
In the last financial year, the operations and administration of LIV Business was separated from that of LIV NPC with the creation of a dedicated LIV Business management team. This team was mandated to review all current LIV Business operations to improve profitability, streamline operations and assume responsibility for the overall management of all LIV Business operations and investments. In addition, we’re tasked by the board to consider all current investments and businesses with the following objectives:
- To reduce long term debt exposure
- To determine a minimum satisfactory return on investment and identify which businesses are currently delivering these minimum returns
- To determine our core business lines and reduce operational involvement in subsidiaries
The focus of the team was primarily gaining an understanding of all business units and identifying opportunities to improve operations.By spending a significant amount of time on all entities, we were able to identify those entities which meet our objectives and these will remain the focus of this team into the next financial year.
Certain business units however were either closed or reduced with retrenchments proving one of our toughest challenges but sadly necessary to ensure sustainability. LIV Flowers too has been identified as a business falling outside of these parameters and as such we had decided to sell the business as a going concern to the minority shareholder. The sale is effective 1 September 2018.
We are immensely grateful for the ongoing support of our corporate partners and are so thankful for the diverse assistance which continues to positively impact LIV Business development. Significant funding has been received through Enterprise and Supplier Development empowering our entities through expansion and access to market.
As we go forward and best navigate the constant change, LIV Business will remain passionate about achieving business with a conscience and our core focus will remain driving social change through commercial sustainability. It is our mission, our passion and our purpose to be a part of the solution and we will continue to merge best practice with passionate people to bring about sustainable transformation
For more information on investment opportunities please email firstname.lastname@example.org
* LIV Business is a 100% Broad Based Black Owned Company and is registered as a private company and is verified as a CategoryA Enterprise Development Beneficiary in terms of the Codes of Good Practice (“BEECodes”) of the Department of Trade and Industry.