Business Succession Planning for Entrepreneurs

A succession plan is an integral part of your overall business plan document. It will clearly map out what must happen for you to exit the business—how and when you choose.

Putting a formal succession plan in place will help you:
• Survive changes in ownership and continue as a successful entity
• Identify and address family issues before they become  disagreements
• Minimise tax liabilities and maximise return
• Ensure an orderly transfer of control and competencies
• Prepare the business and future leadership for transition

Development of the next generation of leader is a paramount task. "It is instructive here to recall that Noah started building the ark before it began to rain." Prior planning prevents poor performance. Without the proper methodology being utilized to prepare for personnel turn-over or unavailability, the corporation can be sent into panic hiring, can fail to continue to implement strategic plans because of the loss of a key individual, and multiple other pitfalls because they were not ready.
Short Term Needs

Planning must account for short time frame notification items. What does the company do when two executive VPs are killed in a plane crash? Who has been groomed and is ready to be "acting" in their place until they can be either ramped up to the permanent replacement or until an executive search reveals the best candidate? When a top executive resigns and moves to a competitor, has the company already instituted a program to ensure that individuals know that strategic plans, customer accounts, and other vital critical business information is in fact the exclusive property of the company and had these key individuals sign off on non-disclosure agreements? If they had not done this prior to hiring the defecting manager, are they prepared to ensure that incoming key personnel are required to affirm their loyalty in exchange for the position?

Mid-Range Needs
Personnel will retire. The text gives the example of GM and their planning process. Any company that is not preparing a like plan for grooming and testing the capabilities of personnel who may be tapped to be the top executive must seriously consider how prepared they really are to do business. Failing to plan is, in effect, planning to fail.
Retirements with long lead windows give companies ample time to try people in the proposed position, to be more closely mentored, or to be given charge of substantially more responsibility to see how they are able to handle the situations that they will be confronted with when they are given the nod.

"Organizations that understand the immediacy of the baby boom exit and thoughtfully prepare for it will be in the best position to achieve unmatched success." The questions businesses should be asking themselves to prepare for the coming demographic change. Some of them are:

• What are your company's demographics (age, gender, position, years in position and anniversary date)?
• What are your company's retirement policies? Is early retirement encouraged or discouraged?
• What mechanisms and programs must be put in place now to capture key competencies and critical work knowledge of employees who will be retiring?
• Will your organization need to increase its reliance on new immigrants?
• If your organization is offshoring, what is the age breakdown of your overseas partners?
• Will your offshoring partners face a labor shortage that may impact their ability to provide services?

Others also point out that businesses need to position themselves to deal with the needs of an aging population. There may be a need for unique skill sets and competencies, as well as a need for new or modified product designs to be marketed to the aging population. These issues tie back into business continuity planning. To continue to be competitive in the future,
businesses have to prepare for the shifting change in the average age.

The Process
The process of succession planning entails assessing what positions are critical to have a succession contingency plan. The positions are assessed, and then the skill sets of the candidates that could fill these positions are assessed, factoring in the time frame that would be required to get them up to speed for the position. A training program must then be implemented to ensure that there is progress in bringing these individuals closer to a more immediate insertion rate in case a planned position turns over. This will ensure a more seamless transfer for the person in waiting and provide a measure of corporate stability in a challenging time.

Our Four Phase approach to succession:

Phase One:
Determine the exit timing and requirements of key stakeholders
• includes Succession Needs Analysis
• Interviews with key managers and family members

Phase Two:
Prepare the business for a smooth succession
• Includes detailed analysis of current state  of  business      
• Action plans for preparing the business for succession

Phase Three:
Research and consider all viable succession options
• Covers all viable options: legal, funding &

Phase Four:
• Select the preferred options and develop an implementation plan
• Provides a formal written succession plan

What ever the level of your business plan, using the latest in business plan software will ensure that you get the succession planning element of it right. With business finance increasingly hard to come by and competition being increasingly fierce, getting every element of your business ready for what the future may hold is now more important than ever.

Foreign donors invest R43,5 million in SA Small Businesses

South African business plans has become extremely popular amongst foreign investors in recent months. In addition to the article in the South African Venture Capital blog which earlier reposrted a boost from foreign Venture Capital funds investing in SA Small businesses. Small businesses with viable business plans in South Africa has already gained more than R43,5 million from foreign donors according to the South African Times


South African small businesses competed against other emerging countries for foreign investment, with foreign donors investing R43,5 million in the country's small businesses this year, an increase of 89 percent from last year, the Small Enterprise Development Agency said on Wednesday. 

The agency said this increase was due to its improved financial management and stable leadership, adding it also meant there was confidence in the agency's role to develop and support small enterprises, chairman Linda Mngomezulu said at its annual stakeholders' meeting. 

The Global Entrepreneurship Monitor report published in May showed that one in eight people started a business in emerging nations such as India, Chile and Brazil, whereas in SA the figure was one in 13 
While the agency could not identify the foreign investors that were supporting local small businesses, SAB Miller, Sasol and Bidvest were examples of local companies which had put significant funds into training programmes and enterprise development. 

Mngomezulu said the agency would 'further roll out plans' to make it a 'centre of excellence for business development'. 

However, according to a survey released by Finscope earlier this month, the growth of small businesses is still slow in SA, with only four percent of entrepreneurs aware of the services offered by the agency. 

Agency CEO Hlonela Lupuwana said the organisation would respond to these challenges by 'strengthening partnerships with provincial and local government agencies and developing a client journey model which prioritises interventions in small businesses'. 

The agency's l earning academy trained 750 people this year, with 70 percent of those starting their own businesses, she said. 

Lupuwana said, however, that the agency did not want to focus only on the number of businesses assisted, but also on producing quality businesses that would have a real effect on economic growth. 

The global economic crisis had proved 'devastating to the vulnerable small enterprise community' but it was at such times that the value of the agency ' was best revealed as creating an environment which prevented the recession from dampening the country's entrepreneurial spirit'. 

She acknowledged that the agency needed to raise awareness about its services. Consequently, the agency intended to develop high-profile visible projects, hire more staff at branches around the country and bump up delivery of its products and services.


SEDA who on a regular basis fund a wide range of business plans and ideas in SA is encouraged by the support from foreign investors.

Market research will improve your chances of business success

For any new business, market research is a key element of the business plan that will ensure, not only that you understand your market and how your potential product or service fits into that. Some business plan services will include this element in the business planning process and Its crucial that this forms a the foundation of the choices that you will be making as a business owner as it will mean that your decisions are based on facts rather than estimate - or a now more commonly used - guesstimate. This part of the start-up process is conveniently left out to often as the entrepreneurs enthusiasm and impatience to get the business of the ground at all cost gets the better of him/her.


So what is market research and how can you do it to ensure you start of by knowing the facts about your market?

Secondary Research

Secondary research makes use of existing data from whatever sources are available. There are government censuses, Mintel surveys, and many private market research agencies that allow access to their data; some of it for free. It can be hugely advantageous, especially as a place to begin. Secondary research more often than not, proves to be a solid base on which to develop your own primary research. It plays the same role as research in general does to your product launch, and should be seen as just as vital. Also, this is of course far cheaper and generally quicker than creating your own research from scratch. The negatives The other side of that coin is that you have neither picked the panel to suit your exact needs, nor the questions. It is feasible that you can find some research somewhere that corresponds to what you are trying to achieve but it will almost certainly require some tweaking, and will not necessarily be the people you wish to interrogate; the use of qualitative research designed by someone else will almost certainly make the target specialised away from your goals. Another main issue with secondary research is that by the time it reaches you it’s often outdated; markets change so quickly in business that the only way to be truly current is through new research. This is not to rubbish the quality of secondary research.

Primary Research

Primary research is, essentially, the creation of your own research, whether a question that you ask to your friends and family or a survey put together alongside and agency and administered to a wide panel. Primary research will instantly let you feel more in control of your project; and that is the exact position you will find yourself in. You choose the questions and select your panel through qualitative research, allowing you detailed responses from individuals. You decide how, when and where your research is administered. You can ensure that your research is focussed: the number of participants and their backgrounds, the number and nature of the questions, the amount of time that your survey is available. This is the most accurate way to research a market sector that is specific to you and your product.

The down side

It is of course, more expensive, whether financially or on your time. If performing primary research alone it will take a lot of time, refining and will need some experience in producing quality questionnaires. It will also take time for your questionnaire to be completed if you don’t have direct access to a ready panel. Most of this can be avoided by using an agency, but at a cost higher than performing your research alone.

So what’s the best option?

Neither type of research will take you to your goal alone; however, a combination of the two will give you all the information you need. Using primary research alone, without first seeing what has or has not worked for other companies and possibly missing out on important data from research that you couldn’t afford to perform yourself, is likely to lead to irrelevant questions or missed opportunities. At the same time, relying solely on secondary research is likely to leave you with answers that are vague or inappropriate to your specific audience. The two compliment each other well, and when used in conjunction will give you a well rounded and accurate portrayal of the needs and opinions of your market sector.

Positive business climate in South Africa

Great news this week from the World Bank that the business climate in South Africa is seen as very positive, especially in comparison with many of its peers. This is great news for entrepreneurs lining up new a business plan or those already in business working for business growth. With a positive business climate banks may be more likely to provide business finance and very importantly, consumers will be more likely to spend.

The article published on SouthAfrica.info this week reads:

Start:

South Africa's business environment compares favourably with its peer group of upper- to middle-income economies globally, according to a new World Bank report, which adds however that certain improvements are still needed.

These include raising the market share of efficient, high-performing enterprises, enhancing productivity, and increase export competitiveness for job-led, sustainable economic growth.

The report, entitled "South Africa: Second Investment Climate Assessment – Improving the Business Environment for Job Creation and Growth", was prepared by a World Bank team in collaboration with the Department of Trade and Industry, and released by Trade and Industry Minister Rob Davies and World Bank country director for South Africa Ruth Kagia last week.

The report presents the results of a 2008 survey of 1 056 manufacturing industries, 68% of which are located in Johannesburg, 14% in Cape Town, 12% in Durban, and 6% in Port Elizabeth. Of these, 231 businesses were revisits from an earlier 2003 survey.

Strengthening business competitiveness

The report provides survey-based analytical advice to policy-makers, business leaders and civil society, with a view to strengthening business competitiveness in South Africa.

The report's key messages are that:

• South Africa could improve its productivity and competitiveness by increasing the market share of efficient producers. Given the high concentration of South African industry, this requires further efforts to enhance competition through more activist and innovative policies.
• Investments in employee training in small, medium and micro-sized enterprises (SMMEs) should be increased with better targeted government support.
• South Africa could do more to improve access to finance by SMMEs and support productive informal enterprises.

"The findings of the report are very interesting, particularly where they refer to the business environment in South Africa – the ease of doing business, regulatory framework, and all the different steps that need to be gone through when one is doing business in this country – which actually compare favourably to those of other peer countries," said Davies.

He said that the government actively promoted the above factors as one of the country's competitive advantages, adding that it was something they wanted to preserve and even improve on, as it was clearly important to attracting new business.

"Furthermore, we acknowledge the challenges identified in the report, such as small business development and access to finance, and our department is working to address the challenges," said Davies. "We welcome the report as a tool of dialogue, discussion and debate."

African spillover

"Improving the investment climate in South Africa is critical for economic growth and job creation," said Kagia. "For Africa's largest economy, a better business environment will generate large spillovers benefits across the African continent.

"The challenge is to identify bottlenecks and take concrete actions."

For the purpose of the survey, the comparator group of emerging economies was Argentina, Brazil, Chile, China, Malaysia, and Thailand.

These countries are natural peers of South Africa, as all are relatively high-performing, resource-rich middle-income countries which have experienced significant export-driven industrialisation.

SAinfo reporter

End:

So weather you are in the process of writing a business plan or an existing business owner looking for growth capital or simply the confidence that things are going to remain positive for the foreseeable future, lets use this opportunity to say our final farewells to the now almost forgotten credit crunch.

Banking Support for Entrepreneurs

One of South Africa’s major banks recently announced increased levels of small business support, beyond what is normally expected from the banking industry. As one of the major stakeholders of the small business industry banks have for years benefited in many ways from the boom in entrepreneurial activity, often providing very little but high interest rates and tough terms to especially new businesses. In South Africa, small businesses account for about 40% of economic activity and provide a massive 60% of employment. Looking at the stats makes it easy to understand why banks would want to appear as small business friendly and this move hence comes as little surprise.


Nedbank Small Business Services recently announced that it is now offering a number of banking and nonbanking interventions to assist entrepreneurs as well as national social transformation. Business registration is a key focus area and the bank offers entrepreneurs the ability to register as a formal business entity through any Nedbank branch. 
The entrepreneur will simultaneously be able to register a business and register for 
value-added tax. 
The bank does not earn anything from the registration, but merely plays a facilitation role by using its technology to allow entrepreneurs to link with service providers, such as com-
pany registration business SwiftReg.

Enterprise development is also a focus point for the division and it has partnered with government financial institution Khula Enterprises to enable entrepreneurs who have inadequate collateral access to finance.



Further, Nedbank has noticed that South Africa has gone from being a largely resource-based economy to emerging as a sales-type industry. 
More Internet and service driven businesses, are emerging and there is a move away from heavy retailing to an emergence of manufacturing and a large services component in the country.

South Africa of course has a large range of business support organisations, with a real culture of entrepreneurship starting to develop within our nation. South Africans are naturally entrepreneurial, both from a necessity point of view as conditions for finding employment has been challenging for many years as well as from an opportunity perspective where the rich mix of races and cultures have brought about a wealth of idea and resulted in a breeding ground for entrepreneurs.

The bank says that they have started to play more of a facilitation role by using its technology to allow entrepreneurs to link with service providers, such as company registration business SwiftReg.

Together with the various other nationwide service providers such as SEDA, the IDC, SA Business Plans, Business Plan Software and the Investors Network we are confident that entrepreneurs in South Africa have a wealth of support that they can rely on and that, going forward into the next decade entrepreneurship will play an even bigger role in the growth and sustainability of the country.

The Business Plan

Just why the business plan has become such an important part of the business financing process in recent years comes as little surprise. Using the latest in business plan software products makes writing a business plan fairly straightforward. Very seldom do we find that entrepreneurs are all-rounder’s and have skills and experience in all the different functional areas of the business. Most often the potential business owner may have both an interest and experience in a certain area and for that reason that they may have come up with a solution to a current problem or challenge that he/she may have come across.

Most entrepreneurs are in essence advanced problem solvers and due to their strong self-belief and resourcefulness may take their solution further to the point where a new venture is created. Think about eh entrepreneurs that you know, consider their ideas and you will quickly see that they have really come up with a solution for either themselves, or someone they may know, whether that is a friend, customer or family member. So the point I’m making here is that the solution obviously comes from their area of expertise, plus of course a healthy serving of imagination and creativity.

When it comes to the actual starting and running of the business, numerous other skills are also involved, whether those are marketing, finance, operational, customer service or service delivery skills seldom would you have thought through the processes involved in addressing these areas. This is where the business plan becomes such an important issue.

Banks and business investors are very well aware of the large failure rates for start-ups. It’s their business to understand the risk that they are taking on and hence believe that one way for the risk to be managed is to ensure that the entrepreneur have actually through thought the various issues while engaged in the process of writing he business plan. The plan will require you to look at just about everything from marketing, to ecommerce, operational aspects, sourcing suppliers and even the legal issues involved in starting and running your business.

It’s a pity then that too often today, the only reason why someone may draw up business plan would be to comply with the demands from the bank or investor as it really can serve as a major tool to ensure that the all too often mentioned business failure rate can be improved and more entrepreneurs can make a success from all the initiative, energy and capital that goes into starting a new business.

Financing for home based entrepreneurs

A key issue for many businesses hoping to start or grow is the ability to raise financing for the business. Financing your business can be challenging despite so may sources available today and will firstly require a well written business plan. With bank lending becoming less popular with many entrepreneurs, business owners are increasingly turning to alternative sources of funding. As the owner of the business you are responsible for the rasing of finance. Few others in your business will be as committed to the process as you may be.


With the use of the internet, trade publications and newspapers it wont be long until you have a number of possibilities for business financing. However, while venture capital may be overflowing for the Internet start-ups, the real scenario for small businesses (and worse, home-based businesses) is far different.

Then again, business means risk, and success comes to those who focus on their goals and actually do something. You first step should be to start making phone calls -- talking to people, and making appointments to discuss your plans with the people who have money to invest. When you're looking for money, it's essential that you get the word out to as many potential investors as possible.

There are several sources to consider when looking for financing. Don't make the mistake of thinking that the only place you can find the money you need is through the bank or finance company. Explore all of your options before making a decision. These include –


Personal Savings.

The first place to look for financing is right at home and personal savings and assets are the easiest source of capital. If you have money set aside, you use it instead of borrowing or rounding up investors. Or, you can take an inventory of items you do not need and have a garage sale. Most people are pleasantly surprised how much cash they can raise in a single weekend. You can also use your stocks, bonds, pension plans, life insurance policies and real estate to raise the needed capital. Those who own homes oftentimes secure equity loans and use the proceeds to start a business.

However, most beginning entrepreneurs don’t have adequate personal savings to fund a business start-up. Others, on the other hand, have savings but refuse to dip into their piggy bank for a variety of reasons. It may be their retirement money or for emergencies; while others would rather use their savings as collateral and borrow against it at a low interest rate.


Family Members and Friends.

Next, turn to members of your family or close friends who have faith in you and want to see you succeed. Borrowing from a friend or relative is generally the most readily available source, especially when the capital requirement is smaller. Relatives and people you know need fewer assurances and are more open to your ideas than professional investors. They are also more patient if your business takes longer than expected to get off the ground. Offer to repay them through profit sharing.

If you are borrowing from family members instead of asking them to invest, maintain a very businesslike and impersonal procedure. To avoid putting strain on the relationship, it is better to draw up a formal agreement in order to put the terms of the loan in writing. It is important to view the participants as business associates.


Venture Capitalists.

Venture capitalists are professional investors who may be in charge of a large pool of capital gathered from a range of sources. These firms invest in new, even high-risk or speculative businesses without a proven track record, with the potential for rapid growth and high returns in a short time. They generally want equity or part ownership of a business in exchange for substantial returns (25 to 40 percent or more) when they exit typically in three to seven years. Particularly in the Internet sector, several venture capital firms have achieved capital gains of 300 to 500 percent, which are used to offset by a wide margin any losing ventures. These firms are mostly interested in potential projects that require R500,000 or more because of the high cost of investigation, evaluation and administration. While a venture capital firm may receive as many as 1,000 business proposals a year, it will typically investigate less than 10 percent and may actually invest in only 3 or 4 percent.


Angel Investors.

Angels are private investors interested in making more on their capital than they can make through traditional markets such as mutual funds or publicly traded stocks. These “angels” can be your accountant, attorney, doctors or other individuals who seek out new businesses to invest in return for equity ownership. Usually providing additional capital in the range of R25,000 to R500,000, expect angel investors to demand high returns for their investments. Relative to venture capitalists, though, angel investors are less demanding and can also be expected to provide expert guidance and mentor the start-up.

As you explain your plan to them, and ask for their advice, casually ask them if they'd mind letting you know of, or steer your way any potential investor they might happen to meet. Do the same with your banker. Give him a copy of your prospectus and ask him if he'd look it over and offer any suggestion for improving it, and of course, let you know of any potential investors. In either case, it's always a good idea to let them know you're willing to pay a "finder 's fee" if you can be directed to the right investor.

Professional people such as doctors and dentists are known to have a tendency to join occupational investment groups. The next time you talk with your doctor or dentist, give him a prospectus and explain your plan. He may want to invest on his own or perhaps set up an appointment for you to talk with the manager of his investment group

Note, however, that most angels and venture capitalists do not invest in home businesses.

One key to a successful business start-up and expansion is your ability to obtain and secure appropriate financing. Raising capital is the most basic of all business activities. Remember, it takes money to make more money.

Flip open trade publications and business newspapers, and you will be bombarded by reports of abundance of available capital for entrepreneurial start-ups, particularly for the dot.coms. The financial news would have you believe that more money is available for new business ventures than there are good business ideas.

However, while venture capital may be overflowing for the Internet start-ups, the real scenario for small businesses (and worse, home-based businesses) is far different. Capital is hard to come-by, especially if: (a) you do not have a good business idea or business plan that will make rich backers run to you in the hope of multiplying their savings exponentially; and (b) you may have a good business idea, but you do not know anyone who matters. The problem is that most beginning "business builders” doesn’t know what to believe or which way to turn for help.

Then again, business means risk, and success comes to those who focus on their goals and actually do something. Who knows, you may be lucky and dispel stories of “tight money.” You first step should be to start making phone calls -- talking to people, and making appointments to discuss your plans with the people who have money to invest. When you're looking for money, it's essential that you get the word out to as many potential investors as possible.

There are several sources to consider when looking for financing. Don't make the mistake of thinking that the only place you can find the money you need is through the bank or finance company. Explore all of your options before making a decision. These include –


Personal Savings.

The first place to look for financing is right at home and personal savings and assets are the easiest source of capital. If you have money set aside, you use it instead of borrowing or rounding up investors. Or, you can take an inventory of items you do not need and have a garage sale. Most people are pleasantly surprised how much cash they can raise in a single weekend. You can also use your stocks, bonds, pension plans, life insurance policies and real estate to raise the needed capital. Those who own homes oftentimes secure equity loans and use the proceeds to start a business.

However, most beginning entrepreneurs don’t have adequate personal savings to fund a business start-up. Others, on the other hand, have savings but refuse to dip into their piggy bank for a variety of reasons. It may be their retirement money or for emergencies; while others would rather use their savings as collateral and borrow against it at a low interest rate.


Family Members and Friends.

Next, turn to members of your family or close friends who have faith in you and want to see you succeed. Borrowing from a friend or relative is generally the most readily available source, especially when the capital requirement is smaller. Relatives and people you know need fewer assurances and are more open to your ideas than professional investors. They are also more patient if your business takes longer than expected to get off the ground. Offer to repay them through profit sharing.

If you are borrowing from family members instead of asking them to invest, maintain a very businesslike and impersonal procedure. To avoid putting strain on the relationship, it is better to draw up a formal agreement in order to put the terms of the loan in writing. It is important to view the participants as business associates.


Venture Capitalists.

Venture capitalists are professional investors who may be in charge of a large pool of capital gathered from a range of sources. These firms invest in new, even high-risk or speculative businesses without a proven track record, with the potential for rapid growth and high returns in a short time. They generally want equity or part ownership of a business in exchange for substantial returns (25 to 40 percent or more) when they exit typically in three to seven years. Particularly in the Internet sector, several venture capital firms have achieved capital gains of 300 to 500 percent, which are used to offset by a wide margin any losing ventures. These firms are mostly interested in potential projects that require R500,000 or more because of the high cost of investigation, evaluation and administration. While a venture capital firm may receive as many as 1,000 business proposals a year, it will typically investigate less than 10 percent and may actually invest in only 3 or 4 percent.


Credit Cards

Some entrepreneurs use several credit cards to provide a substantial cash bankroll for the business start-up. In fact, credit cards are used by nearly one-third of start-ups. It is relatively easy to obtain, and eases the bookkeeping systems. However, using credit cards to launch a business is the least wise, since credit card money is the most expensive money that you can borrow. If you intend to carry a balance, the annual interest charges (12 to 21 percent) are quite steep. While credit card advances is one of the most commonly used sources for start-up financing, it is dangerously close to gambling.


Small Business Investment Companies

Don't overlook the possibilities of the Small Business Investment Companies in your area. Look them up in your telephone book under "Investment Services." These companies exist for the sole purpose of lending money to businesses that they feel have a good chance of making money. In many instances, they trade their help for a small interest in your company.


Business Development Commissions

Many states have Business Development Commissions whose goal is to assist in the establishment and growth of new businesses. Not only do they offer favorable taxes and businesses expertise, most also offer money or facilities to help a new business get started. Your Chamber of Commerce is the place to check for further information on this idea.



Money Broker or Finder

Organiations such as these normally take your prospectus and circulate it with various known lenders or investors. They always require an up-front or retainer fee, and often may nor be able to guarantee getting you the loan or the money you want. There are many very good money brokers, and there are some that are not so good. They all take a percentage of the gross amount that's finally procured for your needs. The important thing is to check them out fully; find out about the successful loans or investment plans they've arranged, and what kind of investor contacts they have all of this before you put up any front money or pay any retainer fees.

Start thinking about the idea of inviting investors to share in your business as silent partners. Think about the idea of obtaining financing for a primary business by arranging financing for another business that will support the start-up, establishment and development of the primary business. Consider the feasibility of merging with a company that's already organized, and with facilities that are compatible or related to your needs. Give some thought to the possibilities of getting the people supplying your production equipment to co-sign the loan you need for start-up capital. This is truly the age of creative financing.

The truth is this: Now is the time to make your move. Now is the time to act. The person with a truly viable business plan, and determination to succeed will make use of every possible idea that can be imagined. And the ideas I've suggested here should serve as just a few of the unlimited sources of monetary help available and waiting for you!

Investment Rands are not out of the question for a home business, but it isn’t a likely situation unless your business has the potential to gain significant stock value. This also means that your company will need to be larger than just an extension of yourself. To attract investors, you will have to make the case that the business could be sold at some point to another person or company that could pick up where you left off and continue to grow the business. If this is the case with your enterprise, you might consider going through the pain to gain investors, but be prepared to learn how the system works before you send off proposals.