The Faces of Funding

Retail Capital

Since 2011 we’ve placed our focus on building the Future of Funding for Small Business Owners in South Africa. That simply cannot be done by one person – it takes a team, a tribe if you will, of like minded and passionate individuals working together with a single goal in mind: supporting and growing the local entrepreneurial landscape. As a leader of SME Funding, we feel a great responsibility to serve the backbone of our economy.

We believe that the future of our country and our economy lies at the hands of the SMEs, and that future lies with not only the business owners of this country, but those who support them. This is why we are honouring the Retail Capital Faces of Funding; let’s delve into the minds of the individuals that are at the helm of steering SME owners in the right direction, enabling them to grow, mature and ultimately succeed.

Guy Hosking, Chief Finance Officer

• Why are you passionate about Small Business Funding?

Small businesses have for a long time been ignored when it comes to funding. They are such an important part of the South African economy and yet they struggle to find the financial support needed to help them grow. We have seen that with access to funding, these businesses can realise their dreams and goals, which ultimately has a hugely positive impact on the economy.

• When is the right time for a business to apply for funding?

I don’t think there is ever a wrong time to apply for funding. By forming a relationship with your businesses funder, you will be able access funding when you most need it. Even if you don’t need the funding immediately, it will give you the comfort that you can access funding if you do need it, and help you plan for the future.

• Do you have any insights or advice for a small business wanting to grow and succeed in 2021?

Build your business around your customer. If you are clear about who your customer is, what their needs are, and how much they are willing to pay, the rest will follow!

Rean Bloem, General Manager Funding

• Why are you passionate about Small Business Funding? 

All big businesses started small. I love the people that start small businesses. They have energy, courage, passion, persistence, which in turn gives me energy, courage, passion and persistence.

• In your opinion, how can accessible Business Funding benefit the Small Business sector in South Africa?

The Small Business sector is an under-serviced yet critical segment of the economy, especially in terms of growth and job creation for South Africa. Accessible funding is the key that unlocks the potential of these enterprises and enables sustainable growth.

• When is the right time for a business to apply for funding?

The right time to start looking for business funding will likely be different for every business owner. However, it’s always worth considering that you’ll probably be better off if you start looking for small business funding and selecting the right funding partner before you desperately need it.

• Do you have any insights or advice for a small business wanting to grow and succeed in 2021?

1)        Don’t boil the ocean — think small and fast
2)        Keep your overheads low
3)        Remember why you started; progress trumps perfection

Lisa Crowe, Business Facilitator

• Why are you passionate about Small Business Funding?

Small business funding in our country helps improve the economy by creating jobs for those in need. I am passionate about this because many times we tend to forget that the small guy counts as well, and at the end of the day, they contribute greatly to the end goal of building the South African economy. 

• In your opinion, how can accessible Business Funding benefit the Small Business sector in South Africa?

It allows the smaller business to compete with bigger companies in the same sector and lets them leave a mark on the economy, thus creating a sustainable future for themselves. 

• When is the right time for a business to apply for funding?

The right time for a business to choose their funding time is seasonal and depends on their sector. For example, if your business is a restaurant, your busiest time would most likely be in summer, so you plan around that season. If your business is a coffee shop, you’re most likely to be busy during winter time. So plan toward your sectors busiest season for more foot traffic.

• Do you have any insights or advice for a small business wanting to grow and succeed in 2021?

You need to ensure that your company is registered. It is important to build a good credit record for the days you would plan to get funding. Invest in card machines and encourage your clients to pay via card payments. Before you open your business, make sure you know your target market and position yourself in an area where you know there is plenty of foot traffic. Never undermine the power of your marketing, as it plays a big role too. Advertise on every platform that you’re able to and encourage word of mouth. 

Mark Downson, Director – Asset Finance

• Why are you passionate about Small Business Funding?

Small businesses are the lifeblood of our economy! Without them and their contribution we would not exist. I also have many family and friends who are SME owners so this particular sector hits very close to home for me.

• In your opinion, how can accessible Business Funding benefit the Small Business sector in South Africa?

Without funding and finance they would not be able to grow, employ people and contribute to the South African economy.

• When is the right time for a business to apply for funding?

Throughout its life cycle – from the beginning and through all its growth phases.

• Do you have any insights or advice for a small business wanting to grow and succeed in 2021?

Make sure your ducks are in a row and look after your cash flow and cash reserves.

Chad Groenmeyer, Business Consultant

• Why are you passionate about Small Business Funding?

I find great fulfilment in contributing towards the growth of the South African economy. I am lucky enough to engage with individuals who have an insatiable desire to attain their visions for the future. I enjoy making this their reality using flexible funding solutions offered on our platform. 

• In your opinion, how can accessible Business Funding benefit the Small Business sector in South Africa?

Small businesses are the true vehicles of growth in any economy and account for a large portion of employment in our country. Accessible business funding plays a crucial role in resolving many societal challenges such as unemployment, and allows entrepreneurs to pursue stimulating ventures and ideas, many of which will shape our future. 

• When is the right time for a business to apply for funding?

We find ourselves in an ever-evolving business environment. Fortunately, Retail Capital moves with the times. The right time to apply would be when the correct opportunity presents itself – an opportunity which will have a profound effect on the future of the business. This may come in the form of stock needs, plans for expansions or even buying a completely new business. 

• Do you have any insights or advice for a small business wanting to grow and succeed in 2021?

Markets, by nature, tend to fluctuate. Retail Capital understands that managing the effects of these anomalies is key to the sustaining of businesses. If you as an SME have survived 2020, you’re already on the right track and things can only improve from here. Whether the past few months have been profitable or not there is always room for growth – it’s just a matter of what you are willing to do to achieve your success. We walk this journey with you through ongoing support and service. We back our clients’ dreams and ambitions 100% and are always in their corner. 

Mandla Khupe, General Manager – Commercial

• Why are you passionate about Small Business Funding?

In a country like South Africa where we are faced with high levels of unemployment, poverty and inequality, an alternative small business funder has a crucial role to play in giving access to the financially marginalised. Giving access to funding these small businesses has a positive spillover effect in addressing SA’s triple challenges.  

• In your opinion, how can accessible Business Funding benefit the Small Business sector in South Africa?

Cash is King for businesses. A lack of access to funding is a common challenge for small businesses and has been proven time and time again that it can lead to their demise. The positive effects of accessing this funding are even more apparent for small business – they depend on this funding as start up capital, to fund working capital and to expand. In each funding journey, we address South Africa’s triple challenges. 

• When is the right time for a business to apply for funding?

Having access to funding lines is crucial for any businesses. It provides certainty for: 

1)        Funding unexpected shocks in the business,
2)        Funding a business’ working capital cycle, and
3)        Opportunity led requirements.

Blessing Chuma, Business Facilitator

• Why are you passionate about Small Business Funding?

I am passionate about small business funding because SMEs in South Africa are the country’s booster to the employment rate which is extremely exciting as this is the best way we can decrease the levels of poverty in our country.

• In your opinion, how can accessible Business Funding benefit the Small Business sector in South Africa?

I feel that business owners are the heartbeat of our economy and therefore by helping them we keep the country’s heart beating financially.

• When is the right time for a business to apply for funding?

The correct time to apply for business funding would be when you as a business owner understand how the funding will impact your future revenue and turnover in both a negative and positive way. Once you have an understanding of how the funding will work in your business then you need to ensure that you have a back up plan if things “go south” so that if you make use of the funding you can pay it back with good piece of mind. This way you wont lose out even if the funding comes through or not. If you as a business owner can answer all these questions confidently and want your business to grow then you should apply for funding to bring your business dreams into fruition.

• Do you have any insights or advice for a small business wanting to grow and succeed in 2021?

The only advice I would give to any small business wanting to grow in 2021 is that do not settle for anything less than success and do not be intimidated by the growth of your neighbour for every successful business owner has their own journey to run.

Deolin Van Wyk, Business Consultant

• Why are you passionate about Small Business Funding?

 Being able to assist a small business is a great feeling and being part of a company who can help a company keep their doors open is really a feeling that is inexplicable.

• In your opinion, how can accessible Business Funding benefit the Small Business sector in South Africa?

 It does benefit vastly towards our economy and being part of this great initiative is truly a blessing.

• When is the right time for a business to apply for funding?

Whenever a business needs assistance with funding whether it is for expanding, cashflow or even just to get stock they should know that we are here to help and we go above and beyond the call of duty to assist our clients.

• Do you have any insights or advice for a small business wanting to grow and succeed in 2021?

Never give up on your passion no matter how tough things might, keep pushing through and remember we are in your corner. 

Kole Roder, Business Consultant

• Why are you passionate about Small Business Funding? 

I love to work closely with new people every day. I love trying to understand who they are and listening to their personal business passions. I love creating success for others with the ideas they have with the access of SME funding.

• In your opinion, how can accessible Business Funding benefit the Small Business sector in South Africa?

This type of funding provides stimulation of growth between various sectors. By providing accessible funding to the SME market keeps the doors open, creates expansions and provides additional jobs to be required to service the growth of SMEs.

• When is the right time for a business to apply for funding?

I would apply for funding when you are looking to grow. 3 simple months of trading could give us a great starting point.

• Do you have any insights or advice for a small business wanting to grow and succeed in 2021?

If you have a vision to grow you on the right path already. I love working with people that have a vision to create their own success so if you have an idea let me listen to it and let’s try to grow your idea together.

We’d love to take this opportunity to honour the entire RC tribe, those at the helm and those behind the scenes without whom our vision simply would not reach fruition, and we salute you – our incredible local Business Owners changing the game, overcoming every challenge with renewed strength and motivation, never taking no for an answer. We’re in your corner. 

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