Page 38 - MiNDSPACE Issue 2 2022 - Old Mutual Corporate

SME support expertSPACE
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Filling the financing
As someone with one foot in a small fashion business, I know how difficult it is to be an in- between size. This is what Old Mutual does – help small businesses that are at the in-between stage of business growth.
By Nobesuthu Ndlovu
Supporting economic growth and job creation by
way of increased investment in small, medium and micro enterprises is one of Old Mutual’s very important medium-term priorities. It’s a crucial goal in the South African context, where much of the national economy is driven by SMEs.
As a large corporate, Old Mutual is uniquely positioned to enable that support by including SMEs in our value chains and by providing meaningful funding opportunities. But what should that investment look like, and where are the real needs?
It’s very clear from our research and our experience that funding is a key need for small businesses. Ironically, there’s a lot of funding out there; the challenge for SMEs lies in accessing the right kind of funding for their needs. Assets funding is very different to invoice discounting, for example – which in turn is different to purchase-order funding. The type of funding you provide will therefore be the real differentiator.
36 | oldmutual.co.za/corporate
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