Start-up Business Funding South Africa
Start Me:
This is a Crowdfunding site for South African Small Business Finance. You can get funding for your creative or entrepreneurial project.
How does it work?
- Create a project
- Choose a category your project fits into
- Say how much money you want to raise and how long you want to do it in
- Add details to illustrate your project best
- Include smaller incentives than large ones
Visit www.startme.co.za
National Empowerment Fund:
The NEF provides start-up businesses with money that can be used to run the businesses. Long-term debt financing is also offered, which usually helps to cover a business’s need to buy basic necessities.
Business Overdraft:
Getting a business overdraft can be an ideal way to manage your cash flow. When you apply, the bank will probably require you to give some personal assets or a personal guarantee as surety.
Debtor Finance:
This is a form of start-up business funding that is ideal for your working capital needs. You can usually apply for debtor finance if your company has a minimum turnover of R200 000 a month and trades with suppliers of sound financial standing.
Asset Finance:
This finance enables the business owner to buy movable assets and equipment in a way that makes it easiest to manage cash flow.
Angel investors:
Angel investors are usually willing to use their own funds to finance projects that they believe will be lucrative, or where they can use their talent and skill to mentor new entrepreneurs.
Private Equity:
This is money from third party investors that is pooled together and then invested into other businesses. Private equity firms usually look for entrepreneurs who have contributed to their businesses using their own funds, who have a solid credit history, a well though-out business plan, experience and skills.
Venture Capital:
This is a type of private equity. It’s funding that is provided by outside investors.
As an entrepreneur, if you are looking for start-up business funding, you should make sure that you know what type of funding you need and you need to be specific about how you will be using the funds.
