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How to fund your own business

By admin
24 August 2013

Entrepreneurs are born every day, and we’ve all given some thought to starting a businessat least once. Here’s how you can make investors see your point of view.

Funding companies

There are the companies with money to invest provided that your business is viable. They’re favoured by start-up businesses because they can offer expertise and mentorship to companies that are just setting out in the business world. These organisations include Umsobomvu Youth Fund, National Youth Development Agency, Khula Finance and The Small Enterprise Development Agency.

Independent funders

There are angel investors (individuals who offer money as capital to entrepreneurs, believing that they have to give to receive). These may be friends, relatives or even wealthy, unknown benefactors.

Banks

And then there are banks – although banks rarely fund new ventures. You have to show your business accounts for a period of at least a year, before they’ll even give you the time of day. Go to them when you’ve been in business for a few years and want to expand.