5 Ways That Can Help You Finance Your Business In South Africa
5 Ways That Can Help You Finance Your Business In South Africa! So you’ve been having this desire to start you own business in South Africa?, you have brilliant ideas and you so certain that you’d make it work. With all the ideas listed in paper and in your mind, you then want to take action and get your business running then a thought crosses your mind, how or where do I get money to start get my company/business off the ground. You so lucky that we now living in a world digital, you don’t have to suffer while there’s help everywhere.
Stated below is the list of ways one can implement or consider in order to finance their business.
1. Loans and grants
Many institutions like the NYDA, IDC and more offer funding opportunities for entreprenuers in South Africa. Explore these avenues.
2.Self – Financing
One would ask if I had money why would I start a business, what they don’t know is that to make or to have money you need to spend money. There are various ways one can use to finance themselves. Tapping into personal savings whether it comes from check account, family inheritance or using your own cash all of this is a demonstration of your commitment as a owner. It could help you gain an additional funding from third parties(other companies).
3.Friends and Family
You might have pride and want to do it all on your own but truth is, you’ll always need those close to you for help. Don’t hesitate to ask them for loans or investments, remember you only need this money to start-up which means you’ll have to struggle for a while.
4. Crowd funding
Crowd funding websites are used mostly by entrepreneurs and all others who need cash to pursue something, you post online for appeals for cash.
5.Peer-to-peer loans
If you have a friend you know very well can loan you some cash , ask them for it. If it means setting up a contract for payments then so be it, loaning money is one aspect that can help motivate you into making best of your business.
6.Incubators
South Africa has many incubators, As a young entrepreneur it’s no doubt you’ll need money and guidance throughout the whole process. Getting your business up and running will require you to opt for an incubator’s assistance. It’s an organisation dedicated to providing services and support to fledging companies, they usually run by venture capital firms,government agencies and universities.
If you have a good proposal or idea for your business getting funding wouldn’t be difficult just have your options wide open and take up risks.
