Find out 9 types of funding methods to consider for your SME

Access to funding and new markets are the main factors that impede the success of small to medium businesses in South Africa.

However, non-financial business aspects play a role in putting the business in a position to perform better in current economic challenges.

702's Azania Mosaka spoke to COO of enterprise and supply chain development at Absa, Dawn Mthombeni, about the finer details of the matter.

As a business owner, you've got to look across your whole business and develop expertise that you've never had before.

Dawn Mthombeni, Absa enterprise and supply chain development

These are the options available, depending on the life stage of your business:

  1. Self-financing
  2. Funding from friends, family and business associates
  3. Angel investor
  4. Angel funding/alliance
  5. Venture capitalists
  6. Bank loans
  7. Bridge loans
  8. Government grants
  9. Bootstrapping

She said that mentors, business coaches, networking opportunities and financial management tools played a role in determining the direction of the business.

Listen to the full interview below for more information:

Read More
Ramaphosa's E Cape visit may signal the beginning of "CR17" election campaign

Ramaphosa's E Cape visit may signal the beginning of "CR17" election campaign

Azania Mosaka and her listeners seem to be pleased that Deputy President Cyril Ramaphosa has finally spoken up.

"I'm from the Jenny Crwys-Williams school of radio"- DJ Fresh

"I'm from the Jenny Crwys-Williams school of radio"- DJ Fresh

DJ Fresh became a household name when he hosted a breakfast slot on radio station YFM .

'My best investment ever was money I spent to impress my wife on our 1st date'

'My best investment ever was money I spent to impress my wife on our 1st date'

Bruce Whitfield interviews Nedbank’s Ciko Thomas about his money beliefs, hopes and fears.

How Kenya became the world leader in mobile, electronic money

How Kenya became the world leader in mobile, electronic money

High-tech, yet simple – mobile money service M-Pesa is part and parcel of the life of most Kenyans, whether rich or poor.

Kenya's fashion industry gaining traction in business

Kenya's fashion industry gaining traction in business

Nikiwe is in Kenya to find out what doing business in the East African country is like for entrepreneurs.

Nikiwe Bikitsha explores business in Ghana for #AfricaConnected

Nikiwe Bikitsha explores business in Ghana for #AfricaConnected

E-commerce is set to for massive growth in the West African country - and there are bound to be lots of other findings!

Popular articles
So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

NSFAS to reopen 2017 applications

NSFAS to reopen 2017 applications

National Student Financial Aid Scheme says it will reopen 2017 loan applications after receiving requests for deadline extension.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?

5 ways the NSFAS funding model will change in 2017

5 ways the NSFAS funding model will change in 2017

The National Student Financial Aid Scheme (NSFAS) will pilot a new funding model in 2017. NSFAS chairperson Sizwe Nxasana explains.

5 reasons why the tourism industry is sceptical about the latest numbers

5 reasons why the tourism industry is sceptical about the latest numbers

The tourism industry is questioning the veracity of the surprisingly upbeat tourism figures and the timing of their release.