Every successful business has a story that almost ended differently. These four South African entrepreneurs came dangerously close to closing their doors before finding the breakthrough that changed everything.
South Africa (02 August 2026) – Building a business in South Africa has never come with guarantees. Every entrepreneur starts with an idea, but turning that idea into something that creates jobs, supports families and changes lives often requires an extraordinary amount of determination when the odds seem stacked against you.
Small, medium and micro enterprises make up more than 90% of all businesses in South Africa, yet between 70% and 80% fail within their first two years. Rising costs, economic uncertainty, access to funding and the daily challenges of running a business continue to place enormous pressure on entrepreneurs across the country. And yet, every year, there are people who prove that even the toughest chapter doesn’t have to be the final one.
Four South African business leaders, all recognised through the Business Partners Limited Entrepreneur of the Year® Awards, have shared the moments they came closest to giving up and the decisions that ultimately changed everything.
For James Barrington Brown, CEO of NewSpace Systems and 2024 Innovator of the Year®, survival meant making personal sacrifices long before success arrived. Determined to keep the business alive, he often went without a salary while ensuring the company could continue operating.
“The company was bootstrapped, so cash flow was always an issue. Five out of the first eight months I drew no salary to keep the company afloat.”
Those sacrifices eventually paid off. A business angel stepped in to underwrite salaries during a critical period, while mentorship helped Brown stay focused on the bigger picture. Today, NewSpace Systems exports advanced space components to more than 33 countries across six continents, proving just how far belief and persistence can take an idea.
Sheldon Tatchell’s journey looked very different but demanded the same level of determination. After his first barbershop closed due to unforeseen circumstances, he stepped away from the industry and took a corporate job before deciding to back himself once again. Relaunching Legends Barber in Eldorado Park in 2014 meant another five months without a salary, and when his first paycheque finally arrived, it was just R3,500, less than many of his own employees earned. Rather than waiting for approval from others, Tatchell trusted his instincts, introduced mobile barbering services and steadily built what would become one of Africa’s best-known barber franchises. Today, Legends Barber has more than 80 stores across the continent, its haircare products are stocked by major retailers, and through the #LegendsGiveBack initiative, the business provides free haircuts to elderly people and people experiencing homelessness while helping aspiring entrepreneurs through training centres across Southern Africa.
For Hamilton Stephenson, founder of Technogrid and the 2025 Small Business Entrepreneur of the Year®, the greatest threat wasn’t financial. It was the culture developing inside his leadership team.
“The risk wasn’t immediate closure. It was more subtle, and in many ways more dangerous.”
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“An organisation cannot grow beyond the mindset and behaviour of its leaders.”
Today, Technogrid employs a committed team whose combined service spans more than nine decades, supplies industrial safety systems to major international companies including BHP Billiton, Rio Tinto and Ford, and is developing innovative carbon-negative building technology.
For Aphiwe Khambule, COO of 21st Century Funeral Services and South Africa’s Overall Entrepreneur of the Year® for 2025, the greatest challenge arrived during one of the country’s most difficult periods. As the COVID-19 pandemic placed unprecedented demands on the funeral industry, her team faced immense pressure while continuing to support families when they needed compassion the most.
“Closing the business was never the objective. It became a period that required us to adapt, innovate and continuously re-strategise.”
Khambule credits the organisation’s ability to navigate that period to the people who chose to stand beside them.
“Their support and willingness to work alongside us allowed us to continue delivering value.”
She is equally quick to point out that the company’s success belongs to everyone involved.
“This journey has never been about one individual. It’s a collective effort, built on the commitment of our team, the trust of our clients and the strength of our partnerships.”
While every entrepreneur’s story is different, the common thread is impossible to ignore. Each encountered moments when walking away would have seemed like the easier choice. Instead, they found support through mentors, investors, trusted partners or, in some cases, the confidence to believe in themselves when no one else did.
According to Gugu Mjadu of Business Partners Limited, that’s often what separates businesses that survive from those that don’t.
“The businesses that make it through aren’t always the ones with the best idea on paper. A lot of the time it comes down to whether that entrepreneur had the right people around them when things got hard, a mentor, an investor, a stakeholder willing to stay in the room. You can have a great business and still hit a wall. What matters is what happens next.”
She says that’s exactly why the Entrepreneur of the Year® Awards continue to celebrate South African entrepreneurs.
“The funding is obviously welcome, but most winners tell us afterwards that the bigger thing was being forced to sit down and actually look at what they’d built. That, plus the mentorship and the networks that come with it, tends to matter more in the long run than the cheque itself.”
Entries for the 2026 Business Partners Limited Entrepreneur of the Year® Awards close today, 2 August 2026. Entrepreneurs who are ready to share their own journey can enter at www.eoy.co.za.
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