Article provided by Retail Capital
Over the past 9 years we have looked at how each client has grown their business, and most importantly, we have partnered with many business owners to create jobs and stimulate the economy. We find ourselves looking at a new decade and are excited at the prospect of the Future of Funding.
In the current economic climate, most small business owners rely on funding to grow their business or reach their objectives. It’s tough out there and we know it, and at the risk of sounding cheesy, we commit ourselves to being in your corner:
Funding your (cash) flow
Often the work-cash balance is less of a balance and more of a flow. Finding your rhythm can be as easy as forecasting your budget, planning your resources, scheduling your expenses and making sure that your business is set up to fund the gaps in between.
Funding your fear
Whether it is pride, stigma or pricing, many business owners still enter the funding journey with a fair amount of anxiety and trepidation. It takes courage to step into the ring, but that hesitation may be the only thing standing between you and 10% growth in turnover within 6 months*.
Funding your future
Sometimes the only thing worse than knowing something is bad, is not knowing anything at all. With the majority of South African business owners caught in the trap of uncertainty over what our political and economic landscapes holds, they are often left waiting for a sign that the tide will turn before they invest or take the necessary (calculated) risks. When that hiatus continues for a prolonged period, the increased expenses and decreased turnover or customers often results in decreased affordability and closes the tap on funding and investment opportunities. A growth mindset will go a long way in obtaining funding at the right time. This will in turn allow you to ride the wave when the tide turns.
Funding your name
Because business funding have traditionally been associated with rescuing a business in need, many business owners are hesitant to share their success stories of how they’ve used funding to grow their business. Obtaining investments or funding is a normal step on the ladder to success, and it is critical to have not only a funding, but a growth partner. Once you’ve found your partner, share your story and allow your peers to celebrate your success.
*Growth statistic is an average based on customer data 6 months after receiving funding (2019).
Since 2011, we have provided businesses with innovative, flexible and convenient alternatives to traditional business funding. Business owners still identify access to working capital as the single biggest challenge that they are faced with. Being responsible for 50% of the country’s GDP and contributing to over 65% of employment, we are devoted to partnering with small to medium-sized businesses to grow the South African economy. This is where we can help and we are proud to have partnered with thousands of SMEs in providing fast flexible business funding. Start growing your business with Retail Capital Business Funding and Asset Finance today. Get in touch to learn more.