Businesses that attract funding are those that can demonstrate a clear opportunity for growth and the systems needed to support it, says financial literacy expert Patrick Wameyo.
He says funders are primarily interested in businesses with growth opportunities, strong leadership, sound financial discipline and management, market niche, customer base, transparency, and potential for developing new products.
A business that can show how investment will help them convert opportunities into sustained progress and can run effectively without the constant involvement of its owner is viewed as attractive.
He explains that businesses can already have strong market potential but lack the systems needed to acquire and retain customers. These systems include business processes, technology infrastructure and skilled people.
“For this reason, funding always comes with technical support because the business owners being funded may be able to see the opportunity but lack the technical know-how to implement the required business system,” he says.
