Small Business start up.

[Mila]

Hi I please need some advice, from those of you that has done this before.

Which Bank should I go to for my Loan. It will be a loan of about R100 000.

What are the things to look out for and the pitfalls?


I'm a total noob and would appreciate any advice.

 

[spiderz]

Only lend enough to get you going. Make sure you have enough capital to carry the business for 6mnt to a year.
Make sure you have a good book keeper.

 

[Mila]

 

[creeper]

Firstly, do your homework.

Also, don't go to the banks. Rather approach the IDC, Khula or google a few more organisations that either help you with the loans or provide collateral for the loan with the banks.

 

[Mystic Twilight]

Business Plan.

 

[Mila]

Thank you

 

[akescpt]

so brave. good luck.

 

[kianm]

so brave. good luck.

Yeah takes a lot of ball for this. All the best

 

[heartbroken]

Business Plan.

^ This. Also make sure to include a proper financial plan with realistic estimates and forecasts of expenses and expected income.

Good luck!!

 

[ice_cubes]

Seda offers non-financial grants. And you dont have to repay them. They pay for the items you will need to get your business up and running.

 

[FrankCastle]

Seda offers non-financial grants. And you dont have to repay them. They pay for the items you will need to get your business up and running.

What if you need to buy a running concern lock, stock and barrel.

 

[DJ...]

Mila, I've sent you a PM. I can assist when I have a chance and help directly with certain aspects. Drop me a mail...

 

[R13...]

If you're considered a youth you can go to the NYDA, they're less strict and they too give grants not loans.

 

[OrbitalDawn]

If you're considered a youth you can go to the NYDA, they're less strict and they too give grants not loans.

/cANCer mode engage.

Are you an ANC member, OP? Otherwise you don't stand a chance.

 

[ice_cubes]

What if you need to buy a running concern lock, stock and barrel.

Which sector does it fall under?

 

[Feodora]

Hi Guys,

I need some advice...

my other half wants to open a business...actually a franchise and he has a list of companies who invest in small business that he needs to email....this email will determine if those companies are willing to invest in his business...but first he needs to come up with a business proposal to send to those companies ....

can you guys give some ideas on how we should go about doing this....this is our first time giving a business proposal to someone.

 

[Chevron]

Hi Guys,

I need some advice...

my other half wants to open a business...actually a franchise and he has a list of companies who invest in small business that he needs to email....this email will determine if those companies are willing to invest in his business...but first he needs to come up with a business proposal to send to those companies ....

can you guys give some ideas on how we should go about doing this....this is our first time giving a business proposal to someone.

Start here:
http://bizconnect.standardbank.co.z...ference-documents/business-plan-template.aspx

 

[Feodora]

Thank you

 

[Mila]

Next Question.

Do I register a company before or after a business loan has been secured?
And for a one man show what would be the best.
A sole proprietor or a private company?

 

[The_Ogre]

Next Question.

Do I register a company before or after a business loan has been secured?
And for a one man show what would be the best.
A sole proprietor or a private company?

If you are willing to bear all the risks then go for a sole prop.

99% people would move the risks into the name of the company.

And to answer your first question, you should have registered the company beforehand, however it will be a bit more difficult to get financing that way.

HTH