Hi guys
One of our members is seeking some short-term financing for a vehicle leasing business.
Minimum financing lot size - R100k.
On R300k they are paying prime plus 4% - repayable with bullet payment in 3-months or 6 months up to 500k at prime +4% bullet repayment.
This is neither an offer, solicitation or recommendation from me - it is public service announcement to try and assist our community. If you would like further information please e-mail me (marc@rival.co.za) or contact me on 082-561-1585 and I will put you in contact with the entrepreneur.
Regards,
Marc Ashton
Friday, November 13, 2009
Tuesday, October 13, 2009
McCann Worldgroup SA assists micro enterprises
South African micro entrepreneurs in the communications industry now have an opportunity to fast track their businesses to the next level by entering the McCann Worldgroup SA enterprise development initiative, ‘The Kiln’ which was launched early in October.
Announcing the programme in Johannesburg, Reinher Behrens, Group Chief Executive McCann Worldgroup SA, said that five micro enterprises would be selected to run their businesses from The Kiln. “Three of the five businesses have been selected and taken up residence in The Kiln,” Behrens confirmed. “We have started the search for the last two micro enterprises by launching a competition, in which we ask entrepreneurs to motivate why they should be considered for this project.”
The selected enterprises will get rent-free office space, IT infrastructure and support, basic financial services and assistance as well as mentoring valued at R300 000 for each enterprise, for a maximum of 18 months: “It’s then time to let them soar.” Behrens says that besides the direct overhead savings for the businesses, McCann gets a packet of hours per month from each business, in their areas of expertise; giving the micro enterprises exposure to mainstream business and further possible opportunities.
“We have created an environment which allows the entrepreneurs to be integrated into the communications industry. They get invaluable exposure and experience through McCann and our strategic partners. At the same time they can develop their own networks and skills, which should go a long way to contributing to their sustainable success,” Behrens says. “It has to be said that we do not take ownership of the enterprises, it is merely a vehicle to assist them in building their businesses.”
Competition For that entrepreneur looking to break into the world of communications, the core of the project is a website that contains all the relevant information and is the main channel to enter the competition. The competition is fairly straight forward. “We call on entrepreneurs to motivate why they should be considered, either by posting a cellphone-created video clip, or completing an entry form.”
Entrants will be encouraged to get their existing networks to vote for their motivation via the website. Weekly finalists will be profiled on the website and evaluated by an expert panel, made up of McCann and its strategic partners, to select the final winners which will be announced in November. The website will also feature blogs and updates from the other entrepreneurs involved in the Kiln, profiling work completed and sharing their experiences and thoughts on the project.
Announcing the programme in Johannesburg, Reinher Behrens, Group Chief Executive McCann Worldgroup SA, said that five micro enterprises would be selected to run their businesses from The Kiln. “Three of the five businesses have been selected and taken up residence in The Kiln,” Behrens confirmed. “We have started the search for the last two micro enterprises by launching a competition, in which we ask entrepreneurs to motivate why they should be considered for this project.”
The selected enterprises will get rent-free office space, IT infrastructure and support, basic financial services and assistance as well as mentoring valued at R300 000 for each enterprise, for a maximum of 18 months: “It’s then time to let them soar.” Behrens says that besides the direct overhead savings for the businesses, McCann gets a packet of hours per month from each business, in their areas of expertise; giving the micro enterprises exposure to mainstream business and further possible opportunities.
“We have created an environment which allows the entrepreneurs to be integrated into the communications industry. They get invaluable exposure and experience through McCann and our strategic partners. At the same time they can develop their own networks and skills, which should go a long way to contributing to their sustainable success,” Behrens says. “It has to be said that we do not take ownership of the enterprises, it is merely a vehicle to assist them in building their businesses.”
Competition For that entrepreneur looking to break into the world of communications, the core of the project is a website that contains all the relevant information and is the main channel to enter the competition. The competition is fairly straight forward. “We call on entrepreneurs to motivate why they should be considered, either by posting a cellphone-created video clip, or completing an entry form.”
Entrants will be encouraged to get their existing networks to vote for their motivation via the website. Weekly finalists will be profiled on the website and evaluated by an expert panel, made up of McCann and its strategic partners, to select the final winners which will be announced in November. The website will also feature blogs and updates from the other entrepreneurs involved in the Kiln, profiling work completed and sharing their experiences and thoughts on the project.
Thursday, September 17, 2009
What VC firms in Cape Town are getting right
ONE of the regular complaints I hear as a financial journalist is that South Africa doesn't have a culture of investing in start-ups or promising entrepreneurs.
And yet venture capitalists argue there simply aren't enough businesses in which to invest; that they are crying out for investment opportunities.
Read the rest of this column on Fin24.com
And yet venture capitalists argue there simply aren't enough businesses in which to invest; that they are crying out for investment opportunities.
Read the rest of this column on Fin24.com
Tuesday, September 15, 2009
UK start-ups face VC crisis...
Just 319 million pounds have been raised this year for venture investments in the U.K. In all of 2008, funds raised more than 1.3 billion pounds for start-up investments, according to BVCA. The number of deals completed by investors has also fallen to 91 for the first six months from 168 for the same period in 2008. The number of deals completed has dropped in the last four quarters.
Read the rest of the story here on Bloomberg
Read the rest of the story here on Bloomberg
Thursday, September 3, 2009
First project
Hi guys
Thanks to those who took the time to join the Rival Pioneers Facebook group.
I’ve got some good news - we’ve got our first Entrepreneurs Focus Group (EFG) lined up for October and its a goodie.
The idea behind the EFGs - which we are aiming to run at least once a month - is to provide a platform for entrepreneurs and innovative thinkers to troubleshoot challenges facing a business, exchange ideas and ultimately build a professional network.
We’re kicking off in October with a start-up financial services business which is affiliated to the Johannesburg Stock Exchange (JSE). We are looking for 20 participants in Johannesburg to spend 3 90-minute sessions discussing strategy and product development for this business.
Dates and venue to be confirmed next week but will be within 20 minutes of Sandton either which way. It will be an evening session - 6pm to 7:30pm.
There are no pre-requisites for signing up for the EFG but we are looking for entrepreneurs who are focused on developing themselves and want to contribute.
If your idea of learning is to sit back and listen to others talk then this is not for you - if you want a funky, informative couple of sessions to test your brain then you’re coming to the right place. Think of it like The Apprentice - only a little classier and you don’t get fired!
We also are aiming to have our electronic learning platform up and running for the participants to be able to exchange ideas beyond the focus group.
Delegates who complete the three sessions will receive:
- An attendance certificate
- Access to e-learning platform
- A fantastic opportunity to network
In the meantime - if you’d like to register your interest for the EFG please drop me an e-mail (marc@rival.co.za) with name, e-mail address and a cellphone number and we’ll confirm venue, dates and times.
If you have a business or business concept that you would like a team to troubleshoot then feel free to drop me a mail as well.
Our blog should be up and running some time next week and I’ll post a link to it but in the interim you can follow us either via the Facebook group or via Twitter: http://twitter.com/rivalpioneers
Cost
Zip, zilch, FREE, Mahala…
… yip that’s right - there is no charge to participate in the group. We want people sharing ideas and we want you telling everyone else about this cool entrepreneurship initiative so that by the end of the year we have a couple hundred young professionals vying for places on one of our EFGs and taking these skills out into the workplace.
Look forward to hearing from you!
Regards,
Marc Ashton
Saturday, August 29, 2009
Absa ups lending limit to SME's
As part of its commitment to shore up SMEs, especially those who do not have sufficient security to qualify for finance, Absa Small Business has increased its Khula lending limit for start-up businesses from R100 000 to R350 000.
"This is a confirmation of our unwavering pledge to meaningfully promote start-up small businesses. We are undoubtedly committed to government's agenda of developing SMEs to counter the challenge of unemployment," says Faisal Mkhize, Managing Executive - Absa Small Business.
In addition, Absa Small Business has appointed Khula specialists - who will be based in the respective Absa regional offices - to assist with the application process, management of existing Khula relationship as well as reviewing of existing.
Khula specialists will maintain a close relationship with the Khula regional offices and assist growing Khula business in the geographical areas identified by Khula for growth opportunities such as Northern Cape, North West Province, Free State, Limpopo and Mpumalanga.
Absa has been investing efforts on operational and risk efficiencies within the Khula sphere, during 2008. With these efficiencies now embedded, there is a renewed focus on growing Khula business in Absa from 2009 onwards.
"Starting a small business involves more than financing, as it also encompasses proper processing and strict follow ups on applications; shortening the turnaround and speeding up the entire process," stated Mkhize.
He concluded that their Khula specialists will help them to manage the application process by doing pre-assessments on all applications. "They will also provide advice and related assistance to applicants."
The Khula Credit Guarantee Scheme was established eleven years ago to facilitate access to finance for people wishing to start/buy a small to medium-sized business, but do not have sufficient security or collateral to provide to the bank in order to secure a business loan. In such
cases, where a client meets the relevant requirements, the bank will apply to Khula for a guarantee which then acts as collateral for a specific percentage of the total loan amount. Absa has supported this scheme over all these years.
"This is a confirmation of our unwavering pledge to meaningfully promote start-up small businesses. We are undoubtedly committed to government's agenda of developing SMEs to counter the challenge of unemployment," says Faisal Mkhize, Managing Executive - Absa Small Business.
In addition, Absa Small Business has appointed Khula specialists - who will be based in the respective Absa regional offices - to assist with the application process, management of existing Khula relationship as well as reviewing of existing.
Khula specialists will maintain a close relationship with the Khula regional offices and assist growing Khula business in the geographical areas identified by Khula for growth opportunities such as Northern Cape, North West Province, Free State, Limpopo and Mpumalanga.
Absa has been investing efforts on operational and risk efficiencies within the Khula sphere, during 2008. With these efficiencies now embedded, there is a renewed focus on growing Khula business in Absa from 2009 onwards.
"Starting a small business involves more than financing, as it also encompasses proper processing and strict follow ups on applications; shortening the turnaround and speeding up the entire process," stated Mkhize.
He concluded that their Khula specialists will help them to manage the application process by doing pre-assessments on all applications. "They will also provide advice and related assistance to applicants."
The Khula Credit Guarantee Scheme was established eleven years ago to facilitate access to finance for people wishing to start/buy a small to medium-sized business, but do not have sufficient security or collateral to provide to the bank in order to secure a business loan. In such
cases, where a client meets the relevant requirements, the bank will apply to Khula for a guarantee which then acts as collateral for a specific percentage of the total loan amount. Absa has supported this scheme over all these years.
Thursday, August 27, 2009
New partnership to grow SMMEs
Existing and aspiring entrepreneurs received a positive boost following today's announcement of the partnership between Seda, the Masisizane Fund and Old Mutual Foundation, which aims to provide small, medium and micro enterprises (SMMEs) with non-financial and critical financial support.
The partnership is a timely intervention that will alleviate the plight of enterprising unemployed people who want to start businesses. According to a 2008 Department of Trade and Industry survey, at least 65% of jobs created in the South African economy can be attributed to the SMME sector.
The partnership specifically focuses on stimulating job creation and ensuring sustainability within the small, medium and micro enterprise sector by promoting, supporting and developing SMMEs as well as connecting these enterprises to critical financial support.
Each partner contributes a different element of expert support to the initiative. Non-financial support services will be provided by Seda, which offers entrepreneurs access to information, advice, mentoring, guidance and tailored training programmes through its national network of 42 branches.
In addition, aspiring and existing business owners can consult directly on business concepts with the business advisors at any one of Seda’s branches.
“We’re very excited about this new partnership which will greatly assist in supporting SMMEs to ensure future sustainability and growth. The financial assistance provided by the Old Mutual Foundation and Masisizane Fund perfectly complements the comprehensive range of support services offered by Seda.
"This partnership reflects our mission to develop and promote small enterprises in co-ordination with other role players, and furthers our vision of offering a holistic support package to SMMEs to enhance their competitiveness,” says Seda’s Chief Executive Officer, Hlonela Lupuwana.
Financial aid will be offered in the form of grant funding and soft loans, provided by the Masisizane Fund and Old Mutual Foundation respectively.
“This partnership means that aspiring entrepreneurs, preferably women and youth, can approach a local Seda branch and be assisted with business plan writing and ongoing mentorship using criteria provided by Masisizane and the Old Mutual Foundation. This will improve their chances of getting access to the funds they need to turn their dreams into reality,” says Charmaine Groves, CEO of the Masisizane Fund.
Groves explains that Masisizane’s overarching objective is job creation through sustainable enterprise development in the second economy, and Seda’s is to provide the tools and know-how for SMMEs, both start-ups and existing businesses.
“Entrepreneurs should enjoy increased success when applying to institutions like Masisizane for funding and other business support.The process of evaluating applications will be shortened, and the long term sustainability of the enterprises improved through the valuable mentorship provided by Seda,” says Groves.
Lupuwana adds that the partnership will go a long way to addressing one of the major current challenges facing SMMEs, namely access to funding.
“Access to services, especially finance, has been a key challenge to aspiring and thriving small businesses. It is beneficial for Seda to form this joint initiative in helping to alleviate this shortcoming in the sector,” Lupuwana concludes.
The partnership is a timely intervention that will alleviate the plight of enterprising unemployed people who want to start businesses. According to a 2008 Department of Trade and Industry survey, at least 65% of jobs created in the South African economy can be attributed to the SMME sector.
The partnership specifically focuses on stimulating job creation and ensuring sustainability within the small, medium and micro enterprise sector by promoting, supporting and developing SMMEs as well as connecting these enterprises to critical financial support.
Each partner contributes a different element of expert support to the initiative. Non-financial support services will be provided by Seda, which offers entrepreneurs access to information, advice, mentoring, guidance and tailored training programmes through its national network of 42 branches.
In addition, aspiring and existing business owners can consult directly on business concepts with the business advisors at any one of Seda’s branches.
“We’re very excited about this new partnership which will greatly assist in supporting SMMEs to ensure future sustainability and growth. The financial assistance provided by the Old Mutual Foundation and Masisizane Fund perfectly complements the comprehensive range of support services offered by Seda.
"This partnership reflects our mission to develop and promote small enterprises in co-ordination with other role players, and furthers our vision of offering a holistic support package to SMMEs to enhance their competitiveness,” says Seda’s Chief Executive Officer, Hlonela Lupuwana.
Financial aid will be offered in the form of grant funding and soft loans, provided by the Masisizane Fund and Old Mutual Foundation respectively.
“This partnership means that aspiring entrepreneurs, preferably women and youth, can approach a local Seda branch and be assisted with business plan writing and ongoing mentorship using criteria provided by Masisizane and the Old Mutual Foundation. This will improve their chances of getting access to the funds they need to turn their dreams into reality,” says Charmaine Groves, CEO of the Masisizane Fund.
Groves explains that Masisizane’s overarching objective is job creation through sustainable enterprise development in the second economy, and Seda’s is to provide the tools and know-how for SMMEs, both start-ups and existing businesses.
“Entrepreneurs should enjoy increased success when applying to institutions like Masisizane for funding and other business support.The process of evaluating applications will be shortened, and the long term sustainability of the enterprises improved through the valuable mentorship provided by Seda,” says Groves.
Lupuwana adds that the partnership will go a long way to addressing one of the major current challenges facing SMMEs, namely access to funding.
“Access to services, especially finance, has been a key challenge to aspiring and thriving small businesses. It is beneficial for Seda to form this joint initiative in helping to alleviate this shortcoming in the sector,” Lupuwana concludes.
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