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How to build a strong business credit profile for easier access to funding - Business Partners
The Mercury
|April 17, 2025
THE National Development Plan (NDP) envisions that by 2030, 90% of South Africa's 11 million needed jobs will be created through small to medium enterprises (SMEs).
Recently, the government launched a new Spaza Shop Support Fund, adding to the many funding options available in South Africa.
However, according to a report by the Small Enterprise Development Agency (Seda), only 12% of South African SMEs have access to formal funding channels. This limited access to finance remains one of the country's leading causes of business failure. Capable entrepreneurs with promising businesses are often held back simply because their credit profile doesn't reflect their potential. Whether you're just starting or have been operating for years, here are six ways to strengthen your business credit profile and improve your chances of securing funding.
Formalise Your Business
This story is from the April 17, 2025 edition of The Mercury.
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