Business Funding in SA. SMEs Doing It Wrong – Here is Why

Posted on February 21st, 2024
SME Brand Voice

company partners

South Africa’s funding landscape poses challenges for SMEs. At Company Partners, we understand these difficulties. Since 2006, we’ve helped over 50,000 entrepreneurs contribute to the GDP. Now, we’re proud to offer solutions for an even bigger problem: Business Funding in South Africa.

SMEs contribute significantly to the country’s GDP (40% in 2020), yet only 34% of these businesses utilize formal financial products. Which in turn relates to a lack of business funding, due to not having their company compliance in place such as a business bank account.

 

The Problem of Business Funding for SMEs in SA

70 – 80% of SMEs fail in the first year due to a lack of funding. Many businesses struggle to navigate the funding landscape due to lack of knowledge and experience, missing valuable opportunities. Additionally, many businesses struggle with cash flow management which further hinders their ability to secure funding.

 

Business Funding in the 21st Century.

The traditional approach to securing business funding for small business, entails extensive paperwork, several different platforms and complex requirements, remains a significant barrier for SMEs. This process is not only time-consuming but also discouraging for entrepreneurs who need to focus on growing their businesses.

Online platforms now offer streamlined funding applications including basic company compliance services such as the  Company Registration processes or acquiring a COIDA Letter of Good Standing for a tender.

Forget juggling browser tabs and office visits! We handle everything online, from how to register a company to keeping your tax and accounting up to date, no matter where you are in South Africa.

 

One-Stop-Funding-Readiness-Shop

At Company Partners we offer a comprehensive funding matching platform thanks to our collaboration with FinFind.  This matches your business too one of over 300 accredited Funders in South Africa, completely free of charge. It is important to note that neither FinFind nor Company Partners are funders.

 

More Than Just a Business Funding Match Platform

This service offering goes well beyond the initial steps of finding a Business Funder. You will gain access to 50+ professionals for Free Consultation and dedicated ongoing support, every step of the way.

Once you have matched with funders, we support you in meeting the funding criteria. We start the Funding Readiness process by creating a “Formal Company Profile for Funding”. Additional services include Company Registration, Annual Financial Statements, Professional Business Plan or even getting contracts through our Tender service.

 

Join the Evolution with Your Partner in Growth

South African entrepreneurs are invited to experience the future of business funding. Sign up for a free consultation on or simply call us Toll Free on 0800 007 269.

Company Partners: Register, Empower, and Grow Your Business