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Is There a Future For Your Business?
Facebook recently published their Global State of Small Business Report, which surveyed over 30,000 small business owners and employees from around the world in over 50 countries.
Here is what their entrepreneurs using Facebook for business had to say:
- Over 44% of operational SMBs on Facebook feel optimistic about the future of their business, with 42% of female-led SMBs on Facebook (and 66% of male-led SMBs) currently operational or engaging in revenue-led activities.- 59% of operational SMBs on Facebook reporting 25% or more of their sales were made digitally in the past month.- 45% expect cash flow to be a challenge in the next few months.- Of those that are operational, 67% reported that their sales this year were lower than last year.
If you are an entrepreneur who is still optimistic about the future. Here is what you CAN do TODAY: - Join SME South Africa's 2-Week Business Reset Challenge and get back to basics. - Find out what Government Funds & Support are available to you. - Learn how to make the best use of your Funding. Stay safe and healthy.
LESSON OF THE WEEK
“Bravery is being the only one who knows you’re afraid.” ― Franklin P. Jones
The following post is sponsored by Visa.
Which of the Following Obstacles Are You Facing in Your Business?
A. Managing your money.
B. Selling online and in person.
C. Improving your business website.
D. Marketing your business.
E. Funding your business.
F. Social media strategies.
WANT HELP overcoming these obstacles and other business challenges? Visit the Visa Small Business Hub, a merchant platform that provides tools and information on how to start, run and grow small businesses.
NEW - 10 Days to a Better Business: Join the SME South Africa 2-Week Business Reset Challenge!!!
2020 has been tough on many of us, this is why we're introducing the SME South Africa Two Week Business Reset.
We want you to take some time to PAUSE, TAKE STOCK and PLAN for the rest of 2020. As we prepare for the new normal – let’s go back to basics!
Get daily #TwoWeekBizReset prompts on INSTAGRAM and TWITTER for advice on the following:- Business Development- Digital Marketing- Personal Development- Leadership
Know Your Government Funds & Grants
1. Grants are usually not repayable. The government lending agency provides for 100% of the financial need.
2. Cost-sharing Grants - A cost-sharing will finance from 35% to 100% of the application.
3. Incentives - Unlike grants, where the money is provided for the service or asset, incentives are paid AFTER the event has occurred.
4. Tax Incentives – This means that the business may deduct a certain amount from the money it owes in tax.
5. Equity Funding – This means that the government funding agency buys a certain part of your business in return for percentage shareholding.
READ THE FULL ARTICLE HERE
ALSO READ: Is My Business Funding Ready?
- Your Government Funding OPTIONS EXPLAINED-
Visit our Funding Directory for over 20+ articles on Government Funds available to entrepreneurs:
IN THE DIRECTORY: NYDA;
Isivande Women’s Fund;
Agro-processing Support Scheme (APSS);
FinFind, ETC.
ALSO READ:
Find out a funder’s perspective on entrepreneurs, what funders are looking for, and what you need to successfully apply for funding.
Good & Bad Reasons to Access Additional Financing & Funding
The Good
The funding could be used for expansion purposes, working capital, a partner buyout or an acquisition. It can also include tapping into cheaper funding to settle more expensive facilities, which ultimately maximizes profitability.
The Bad
It would not be prudent to take on additional debt to fund operating expenditures such as salaries or rentals unless there’s a short-term liquidity gap. It is also not recommended to service existing third-party facilities that are perhaps in arrears.
GET THE FULL ARTICLE HERE
