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
To learn more about this author, visit Rob Smorfitt's Website.
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Rob Smorfitt
(Visit Rob's Website)
Based in Pietermaritzburg, South Africa.
Married with 3 children (22, 21 and 14).
Have an MBA and am currently doing a PhD
in entrepreneurial success. I have been
self employed since 1982. I have started
26 and bought 5 businesses since then.
Most were sold again and a few were shut
down because of a lack of profitability.
Many were run by staff or family while I
worked in full time employment in my
bigger businesses. 6 books written in SME
and Project Management educational field.
Written articles for various magazines,
newspapers and websites.
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