• Inside Labour

    Brexit should send warning signals to worker organisations everywhere, says Terry Bell.

  • Racial redress

    The next adult generation is at risk of being polarised on the basis of skin colour, says Solly Moeng.

  • To do list

    Keep separate lists to ensure your to-dos don't get cluttered and gain stress-free productivity, Ian Mann.

All data is delayed
Loading...
See More

No loan hampers job creation

May 09 2013 16:25
A Fin24 user says the fact that banks won’t lend to his self-employed wife is hampering  job creation. He writes:

My wife is self-employed, running a successful one-woman business for about four years with up to four part-time staff.

She requires finance to assist with the expansion of the business.

Since she is self-employed, no financial institution is willing to assist with a loan of up to R40 000 which is not an enormous sum of money in today’s environment.

She built her little business from scratch and would like to create more employment opportunities for her casual staff.

Without this financial assistance she will not be able to expand or provide extended employment opportunities for the casual staff.

What can she do?

Business development consultant Anton Ressel advises
:

You have not mentioned the sector your wife operates in. However, since her funding requirement is rather small she could look at the National Empowerment Fund (NEF) or this great website with info about a number of financing and funding schemes.

Since the amount is not large she may also look at leveraging off your mortgage if you have one, or tapping the family network.

It will undoubtedly be cheaper than most financing available on a commercial basis.

In any event, she will need a business strategy outline showing how the R40k will unleash the potential of the business.

 - Fin24

Share your experience of setting up your own business and get published, or simply ask a question. Our business panel can put you on the right path.
 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

entrepreneurs  |  smes
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...