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Economic and management sciences

Grade 8

Entrepreneurship

Module 17

How do i finance my business?

Activity 1:

To discuss the financing of a business idea.

[lo 4.1]

You have developed a business plan for your business idea now and it appears that everything is going to work out well. But have you thought about where you are going to get the money to finance the product development until the sales start generating money?

ASSIGNMENT:

1. Read the following article again. Write down how Slabbert financed his business and what his advice is to other entrepreneurs.

2. Do some research to determine which institutions Slabbert could have approached for financial assistance. Hint: Think further than banks: the South African government regards the development of small businesses as being very important.

An entrepreneur’s story of a difficult start in a grimy butchery

“WORK YOUR FINGERS TO THE BONE”

“My success came after I had worked my fingers to the bone and because I never became greedy.”

This is the secret of Mr Leon Slabbert, owner of the Cuyler Butchery in Uitenhage.

After finishing his schooling, Mr Slabbert obtained a degree in personnel management. He then worked in his father, Levi’s, butchery for ten years.

“My father is a perfectionist and therefore he is very particular about tidiness, quality and service. He taught me all about the select cuts and everything else I know. Thanks to him I am a disciplined person,” says Slabbert.

In August 1988 he decided: “Nothing ventured, nothing gained.” He sold his house and most of his other possessions and bought the Cuyler Butchery , which at that time was grubby and shabby.

Slabbert found it difficult to get loans from the banks, because he had no insurance. Some of his creditors showed him some mercy, but others simply had to wait for him to make enough money to pay them.

In the early nineties the political situation in the country influenced many people and businesses and Slabbert had to keep his head above water despite various threats. “In the first

five years I just had to do crisis control most of the time to keep my business going. Competitors didn’t make it any easier for me to get my business to grow, and I had to do everything in my power in order to survive,” he says.

“Those were difficult years. I started with three staff members and did all the administration, daily chores and cutting of the meat. I had to make the sausages on my own. I also scrubbed the floors.

“I did not even have a proper cash flow that I could use for change and a friend lent me a lorry with which to transport my meat. A car was out of the question. There was no money for petrol and I had to walk to work. My wife, Wilhma, was the owner of a hairdressing salon and she also had to work overtime to get her own business going,” says Slabbert.

His wife is now a director of the butchery and owns shares in it.

“Besides being in control of the administration of the business I am involved in every aspect of the butchery, from washing floors to cutting up meat.

Questions & Answers

Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
Bharti
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
Daniel
how to know photocatalytic properties of tio2 nanoparticles...what to do now
Akash Reply
it is a goid question and i want to know the answer as well
Maciej
characteristics of micro business
Abigail
for teaching engĺish at school how nano technology help us
Anassong
Do somebody tell me a best nano engineering book for beginners?
s. Reply
there is no specific books for beginners but there is book called principle of nanotechnology
NANO
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
s.
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
Tarell
what is the actual application of fullerenes nowadays?
Damian
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
Tarell
what is the Synthesis, properties,and applications of carbon nano chemistry
Abhijith Reply
Mostly, they use nano carbon for electronics and for materials to be strengthened.
Virgil
is Bucky paper clear?
CYNTHIA
carbon nanotubes has various application in fuel cells membrane, current research on cancer drug,and in electronics MEMS and NEMS etc
NANO
so some one know about replacing silicon atom with phosphorous in semiconductors device?
s. Reply
Yeah, it is a pain to say the least. You basically have to heat the substarte up to around 1000 degrees celcius then pass phosphene gas over top of it, which is explosive and toxic by the way, under very low pressure.
Harper
Do you know which machine is used to that process?
s.
how to fabricate graphene ink ?
SUYASH Reply
for screen printed electrodes ?
SUYASH
What is lattice structure?
s. Reply
of graphene you mean?
Ebrahim
or in general
Ebrahim
in general
s.
Graphene has a hexagonal structure
tahir
On having this app for quite a bit time, Haven't realised there's a chat room in it.
Cied
what is biological synthesis of nanoparticles
Sanket Reply
what's the easiest and fastest way to the synthesize AgNP?
Damian Reply
China
Cied
types of nano material
abeetha Reply
I start with an easy one. carbon nanotubes woven into a long filament like a string
Porter
many many of nanotubes
Porter
what is the k.e before it land
Yasmin
what is the function of carbon nanotubes?
Cesar
I'm interested in nanotube
Uday
what is nanomaterials​ and their applications of sensors.
Ramkumar Reply
what is nano technology
Sravani Reply
what is system testing?
AMJAD
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, Economic and management sciences grade 8. OpenStax CNX. Sep 11, 2009 Download for free at http://cnx.org/content/col11040/1.1
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