It has become a town talk that access to finance is the number one reason why startups and SMMEs are not able to access finance. However, without disregarding clearly significant systemic hiccups in small business finance in Lesotho, there have been stronger voices suggesting otherwise. The most vocal in contrasting voices refer to the inept inadequacies of startups and small businesses to present a bankable case before financiers.
There are a number of reasons which could be pointed out regarding the above huddle for startups to present bankable business proposals before financiers. Apart from the technical knowledge of presenting a well-structured business proposal, most entrepreneurs’ startups and small businesses are just not ready for finance. This is due to the prevalent flaws in which financiers claim to find in the business plans presented before their institutions seeking depositors’ funds.
In our language, we believe the main problems lie in the business model. We believe when the business model is clearly defined and founders well equipped with startup management knowledge, it becomes easier to raise finance. But we also acknowledge that to most young small business owners who have operated their small stand for a couple of months to years and to fresh startups, they have no clue what a business model is supposed to be, or even better why they should care in the first instance.
To make a more practical and live-progressive training, the Agency has developed the Main-street Founders Pitch to provide an accelerated training which is tied to a financing round through a live pitch of graduating startups. This is perhaps one of the most feverish, but extremely engaging program developed by the Agency.
The program aims to accelerate a path to financing for new and existing small, medium and micro enterprises. The program achieves this through a tied business model development training tailored specifically for startups which have gone through minimum ideation processes or have had a considerable run and are ready for first round of external financing.
Main-street Founders Pitch aims to become a tough, most valued, servant fundraising program for startups and small, medium and micro businesses in Lesotho.
The program cycle will run from February 2019 - July 2019
Invitations will be sent out through public media and on all Agency communication platforms. Stay in touch with the Agency and you will be the first to know., join our Mailing list, and follow us on Facebook for more updates.