Challenges facing entrepreneurs seeking to raise finance
Small business funding is not something that is taught at universities or even offered as a training course for entrepreneurs. This means that most entrepreneurs don’t know where to start. Without a basic understanding of small business funding, learning to navigate it can be a challenge, and this leads entrepreneurs to feel that the odds are stacked against them before they even start. Most believe that only a large, well-established business is likely to get funding.
Finding the right funder can be like looking for a needle in a haystack, particularly if you don’t know who all the funders are (besides the banks of course). The reality is that most startups and small businesses that approach banks for funding are unlikely to meet the stringent loan assessment criteria. For banks, small businesses represent a high risk, and banks find it difficult to accurately assess the risk of lending to them. Fortunately, there is a variety of different funders that are able to assist. However, it is critical to understand how each type of funder works, as you’ll be expected to meet their specific lending criteria.
Whilst entrepreneurs know that Government funding is available, they feel that this is very difficult to secure. Even when funding approval has been received, it takes a long time for the funds to be released, and this often occurs after the opportunity (which required funding) has been lost.
هذه القصة مأخوذة من طبعة October/November 2019 من Your Business.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة October/November 2019 من Your Business.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
61% of South African SMMEs Planning For Growth
Mastercard SME Index
Selecting A Collections Partner
Key considerations and insights...
Recipe For Success
Key ingredients for a successful partnership between e-tailers and their software developers.
Our Success. Your Success.
The need for business training to improve bottom-line results in businesses across the country has never been greater.
How Small Businesses Improve Revenues In Tough Times
While many small businesses were able to adapt to lockdown in the short term, new challenges emerged when it came to returning to physical workplaces. Modern workforces, for example, are fragmented, while exposures, health and safety concerns frequently disrupt operations. How do we cope with these and many other related difficulties?
Making An Impact
Every year in August we take the time to celebrate women and reflect on the tremendous efforts they make to shape our society.
The Hidden Value Of Outsourced IT Resources
The IT needs of today's businesses are constantly evolving, making outsourcing a very attractive option that can offer a number of compelling benefits for businesses, small or large.
Networking At Virtual Events
Just because you can't shake hands and pass around business cards, doesn't mean you can't network at a digital event.
7 Questions To Ask A Prospective Digital Media Partner
If you are looking to outsource your digital marketing function to an agency, here are some question to ask before signing on the dotted line.
Riches And Beyond
Empowering the next generation of entrepreneurs