Access to small business funding online

11th December 2018

An image of South Africa rand notes in an article about small business funding.
An infographic from the Yoco Small Business Pulse on small business funding.
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More often than not, access to small business funding is critical for success. However, small business owners tend to struggle to access the funds they need, whether it’s initial funding for the start-up process or funding further down the line to expand.

Roadblocks to accessing business funding

The chief barrier is lack of awareness about where else to seek funding outside of the traditional finance sector. The majority of entrepreneurs have not accessed finance outside of their personal resources and network of family and friends. For those who have been in business for a shorter amount of time, the ability to access finance is particularly important. However, these businesses are more likely to be declined finance from traditional institutions. A clear gap exists for more flexible lending to new entrants in the small business sector.

What do small businesses have to say?

At Yoco, we sent out a survey to our small business community to learn about the small business climate, challenges and access to funding. Download the full report here, and see the deep dive into access to funding in the infographic below.

You can also learn about Yoco Capital, which offers small businesses a cash advance to help them grow, here.