Our economy is changing lightning-fast, with technology being the single biggest catalyst. Between now and 2030, robotics, artificial intelligence, Blockchain and other innovative solutions will become even more prevalent than they already are, allowing the private sector to operate more efficiently.
The growing contingent of more confident start-ups will change the face of our economy between now and 2030, for starters because they are more in tune with what their customers need, particularly compared to large corporate dinosaurs.
Despite a dozen different government-led SME funds and financing schemes, the 2018/2019 Assessment of South Africa’s SME Landscape report shows that over half of SMEs in this country die before their third birthday. Funding issues top the list of challenges.
This may become a thing of the past as we approach 2030 thanks to a growing community of alternative lenders and fintech companies that take a different approach to risk. To companies like ours, an applicant’s financial records and business performance are what really matters when applying for working capital - not his or her collateral or assets.