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SMEs - entrepreneurs sourcing start up finance

Written by: Dr. Rob Smorfitt

Article Overview: How do entrepreneurs source start up finance?

SMEs - entrepreneurs sourcing start up finance

Entrepreneurs in South Africa need to look at start up finance more carefully.

There appears to be a thinking that government or banks must fund your start up business. Why? It never happened that way before!

If you had no assets such as a house to hock to the bank in return for start up capital, you either sold other assets such as motorbikes, second cars or whatever, to raise the cash, dipped into your savings, borrowed against insurance policies, or borrowed from friends or family. I remember in the early days starting a business after selling my computer to raise R5000 start up capital.

True entrepreneurs do not whine about banks and government refusing to lend them money, they get out there and find it. Are you a true entrepreneur?

Rob Smorfitt

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Article Tags: entrepreneurs, finance, SME, SMME, Smorfitt, South Africa, startup finance



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