You can be like Zamile, owner of a well-known restaurant in Kuruman, in the Northern Cape. He was paying close to R5,000 a week to rent a sound and lighting system. Fundrr assisted him in purchasing his own brand-new system, he paid this off after just 6 months and now he owns his equipment, and as a result, no longer has cash flow issues and he is saving +-R220,000 per annum.
Small businesses are the heart and soul of the South African economy. It is estimated that of the 2.8 million SMEs, small businesses employ over 60% of the local workforce, contribute 35% towards the GDP and collectively have an annual turnover of R727 billion. Unfortunately, according to the NCRs, most small businesses do not last more than 2 years due to inability to access finance. Capital adequacy regulations force banks to lend against fixed assets rather than to lend to businesses. Initially this seems prudent, but eventually this leads to lower economic growth and higher credit risk.