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Geologist struggling to get started

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(Supplied)
A geologist is struggling to go it alone in the core drilling business. He writes:

I am a geologist by profession and tried going into the core drilling business from 2008, but I could never break into this lucrative business.

I have managed drill rigs for multinational companies and know the pros and cons of this business; I even tried forming partnerships with companies that operate in this space without any success.

Banks need collateral and a contract, but these are not easy to get hold of.

If you can assist, I would be very grateful.

Independent business consultant Anton Ressel responds:

Hi,

You have not indicated what sort of figures are involved, or how you would see the business venture rolling out, so it is difficult to advise you without that information available.

However, I can advise that commercial banks are certainly not the only source of loan finance.

If the venture is as lucrative as you indicate, you may be well-served looking at some venture capital or angel investor options to raise the needed finance.

You could also visit www.investmentincentives.co.za to see if there are any government funding agencies that may be of interest.

Good luck.

 - Fin24

* Share your experience of setting up a business or simply ask a question. Our business panel can put you on the right path.

 

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