NeoLife to empower local entrepreneurship and tackle unemployment on the back of health and wellness trends

August, 2022 Concerned by the rising cost of living and high rate of unemployment in South Africa, particularly amongst our youth, health and wellness stalwart NeoLife is on a drive to grow its entrepreneurial programme by 20% in the coming year.

The direct selling business has a 50-year track record of operation in South Africa (63 internationally). Formerly known as Golden Products and GNLD, NeoLife health and lifestyle products have provided income generating opportunities for millions of individuals during that time.

“There has never been a better or more important time than the present to give people the power to live healthier and happier lives through entrepreneurship thereby bolstering our efforts to overcome the ravages of unemployment,” said Drew McDermid, Vice President of NeoLife in Southern Africa.

McDermid’s comments are borne out by the global performance of the direct selling sector. According to the World Federation of Direct Selling Associations (WFDSA) of which South Africa’s local body Direct Selling Association is a member, global direct sales increased by 2.3 per cent year-on-year, from US$175.3 billion in 2019 to US$179.3 billion in 2020.

“The challenges of the COVID years saw a rise in micro enterprises and the so-called ‘gig economy’. No more so than in Asia and Africa, where entrepreneurship and self-reliance is even more of a necessity than elsewhere,” McDermid says.

According to the same report, the Compounded Annual Growth Rate (CAGR) experienced by individuals involved in direct selling opportunities over the last three years, continues to increase exponentially, despite COVID and other challenges.

Entrepreneurship is the obvious answer for many of the challenges facing South Africans, however the success rates among traditional business start-ups are dismally low. In South Africa alone, five in seven businesses fail within the first five years according to Cova Advisory.

Direct selling benefits
“Direct selling provides enormous opportunities for entrepreneurship. There are comparatively few barriers to entry and no capital is required outside of a small sign on fee of under R1000. Extensive training, personal development and ongoing mentorship are provided to ensure the entrepreneur gets the best start to his or her business,” McDermid adds.

NeoLife, for example, undertakes all business administration, provides distributors with a personalised website and mobile app, as well as providing warehousing, marketing, logistics and training.

“This means our distributors can focus on the all-important income generating aspects of their business,” he adds.

Health and wellness trends
NeoLife’s value proposition is based on health and wellness and providing products that are backed by thorough science, research and development. Last year alone, the global entity NeoLife International invested millions of dollars in independent scientific research to ensure products produced were of the soundest quality and promoted individual health.

“Modern day diets, over processed foods and obesity have resulted in a global trend of poor health. Research has shown that a bad diet is three times more dangerous than smoking in terms of its impact on the human body,” McDermid says.

“Yet currently in the US alone an estimated 80% of adults take a vitamin supplement daily. In South Africa that number is 48%, which we believe will increase exponentially over the next few years,” he continues.

“There is a growing opportunity in the market for good whole food supplements and earth friendly products that work and that people can trust. I truly believe that we have a product line that is well positioned to help people succeed in a changing world,” he says.

For McDermid and his team at NeoLife, it’s a perfect storm being driven by two trends – the first sees an increased demand for high quality supplements in the wake of chronic disease and the desire for prevention and long term good health. The second trend is a surge of individuals looking for ways to make extra money to improve aspects of their life, secure their future, or quit the rat race and start a home based business. NeoLife addresses both.

Income generation opportunities
According to First National Bank, 56% of middle income South Africans spend 80% or more of their salary within five days or less.

“The steady increase in our cost of living, static incomes particularly among retirees , and high levels of unemployment, all point to the fact that more people than ever before are looking for a way to generate income in their part time from home,” McDermid says.

“If COVID and lock down taught us anything, it was that if you don’t have a way to make money from home you are at risk. Economies are in decline, job security is currently at an all-time low, while cost of living continues to climb.

NeoLife is on a mission to give everyone the power to live happier and healthier lives. We want to end the trend of poor health and financial stress that affects millions of families globally,” he concludes.

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