Funding Agencies for Businesses in South Africa

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Funding agencies in South Africa play an important role by helping to make previously disadvantaged South Africans business owners.

Indeed, South Africa is a country where the official unemployment rate was around 30% in the second quarter of 2019 (Trading Economies). Even more, Business Tech recently  reported that the unemployment rate for young South Africans with a matric was 55% in first quarter of 2019 – rising to 58.4% for those with less than a matric.

The solution for these people is to start their own businesses. And, if they can get funded by the government, even better!

So, for those who qualify – here are some of the most important (government) funding agencies in South Africa:

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How to Buy an Existing Business

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Looking to start your own business? Sometimes it’s better to buy an existing business rather than to start one from scratch. Besides, there are many legitimate reasons that individuals, families or partnerships are inclined to sell an existing business. Unfortunately, the majority of businesses are for sale because they’re not performing…

Therefore taking over an existing business demands evaluation, research and in-grown interest. So why should you consider buying an existing business?

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Misconceptions about Business Ideas

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You need a business idea if you want to start a business. However, just by having a good business idea won’t necessarily guarantee instant business success. Here’re some misconceptions that people have about business ideas:

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Every Business Needs A Business Plan

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Many small businesses start without a business plan. There is no vision (where do they want to be?); or mission (how will they get there?). Nor do they have any goals or strategies.

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