Funding event for entrepreneurs returns to Riversands Incubation Hub

Tafadzwa Madavo, COO of Riversands Incubation Hub.Funders stand at Fundex Riversands

 

The inaugural FundEX held last year attracted more than 500 entrepreneurs seeking practical advice on securing funding for their businesses.

This year’s one-day conference and expo will build on last year’s success and will once again highlight funding opportunities available from banks, government funders and alternative funding platforms.

“Economic conditions are tougher this year and will affect the small business sector,” said Tafadzwa Madavo, COO of Riversands Incubation Hub. “Entrepreneurs must be careful not to use funding received to ‘paper over’ the tough times. It should still be used to expand the business, and not to cover operating expenses. This requires a huge amount of discipline.”

Regardless of the economic conditions of the day, funding was not a silver bullet to ensure growth, he added. Entrepreneurs need to keep their operating expenses low while they scale their business. This also means a healthy attitude to bootstrapping which is cutting back business and personal expenses to free up money for expansion.

Participants at the FundEX event at Riversands Incubation Hub.

Speakers at the event will include Velly Bosega, Founder and CEO of AdClick Africa Media Group; Madavo; Zizipho Nyanga, CEO of Masisizane; Nadia Rawjee, director of Uzenzele Holdings; and Gideon Potgieter of Resolution Circle.

READ: 5 mistakes to avoid when starting a small business

Also, back due to popular demand is the funders lounge where entrepreneurs book a one-on-one consultation with a funding expert. “Despite the array of information online, speaking to a funder face-to-face is incredibly valuable,” said Madavo. “We are looking to extend the funders lounge in 2017 to accommodate more entrepreneurs.” Appointments with funders can be booked on the day, with the lounge opening at 10am and running to 3pm.

The one-day event runs from 9am to 5pm and is open to the public with tickets available online at www.fundex.co.za with tickets priced at R200 per head.

Riversands Incubation Hub is located off William Nicol Drive between Dainfern and Diepsloot and is a ground-breaking initiative with the scale to have a real economic impact by supporting small businesses, fostering job creation and alleviating poverty.

The Riversands initiative was formed in 2015 through a private-public partnership between Century Property Developments and National Treasury’s Jobs Fund. Established and start-up small businesses are accommodated at Riversands for a period of up to three years in subsidised premises with access to business support services. The campus is currently home to more than 150 small businesses.

Details: www.riversandsihub.co.za

  AUTHOR
Al Karaki

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