There are more than 2.5 million small and medium-sized enterprises (SMEs) in South Africa, however, accessing funding remains still a major challenge for many entrepreneurs. To combat this, the country now has a growing alternative lending sector that is focused on providing funding for this market. SME lending is a massive gap and a global
One of the biggest challenges facing small business borrowers (and lenders) is that too many business owners wait until the need for financing is critical before they start looking. Taking a more strategic approach, and seeking financing before the need becomes a crisis, could make the borrowing process less stressful and more successful. It’s sometimes
From one-person entities to JSE-listed companies, no business can escape the dreaded task of bookkeeping. While it’s definitely not one of the more glamorous parts of the job, bookkeeping is at the heart of small business success, which means errors can be crippling. To avoid the financial headaches that come with bookkeeping mismanagement, it’s important
In our society, failure has become some sort of an unmentionable occurrence. None of us likes to talk about it. But we all know it’s there. Scrolling through articles, social media posts, etc. we look at other “successful entrepreneurs” and immediately these images and narrative invites us with the allure of ample time and freedom
We’ve all heard the stories of kids starting a business at a young age. It’s a tempting scenario: Your child develops a passion for something, turns it into a business, and before you know it, they’re supporting you in your not-so-old age. Generation Alpha are those born after 2011. In 2050, the eldest Alphas will
Turnover is Vanity. Profit is Sanity. But Cash is King. Most of us are familiar with the saying. Cash flow management is the key to success for many new and growing small businesses. Cash is the fuel that makes any new business work; hence, these businesses should be managed with a primary focus on cash/cash
