Guests:
Welcome to Your Business Matters, a podcast of EXIM Bank Jamaica where we bring thought leaders together on thought-provoking ideas and methods to help grow your business
Many businesses have had to pivot to protect their profits and stay afloat. In order to be effective, businesses need cash flow to fund operations and as the economy tightens, an entrepreneur's cry is often about the options available for financing. There are two basic types of funding available to small businesses. These are debt financing and equity financing. Just like purchasing a car via a loan or using a credit card, debt financing is dependent on the entrepreneur's ability to repay monies borrowed with interest. Equity financing on the other hand requires zero loan repayments but will require the entrepreneur to sell shares of her company to her investors. Figuring out how to finance your business is a very important decision that may come with daunting consequences, so how do you decide between the two? Very few have mastered the skill of debt leveraging in business so careful risk assessment is always advised before one steps into the bank or attempts to pitch their business to potential investors. Today on Your Business Matters, we venture into the business funding tour with Sandra Glasgow, Founder of Biztactics Limited & Co-Founder of First Angels & Banker, and Kevin Foreman, Country SME Relationship Specialist at JMMB as our guide.
Some of what we discussed include:
We also touched base with a member of our audience Ariff and Davine Butler who posed this question to our guests “ If a client applies for a loan and you realize that you are not the best fit for the client’s needs do you advise them to apply elsewhere?”
Connect with our guests:
Connect with Sandra on firstangelsjamaica@gmail.com/ sandrag@revup.com 876-819-3311. You may also contact Kevin at kevin_foreman@jmmb.com or call 876-410-9465. ‘
Thank you for joining us on Your Business Matters hosted by Heneka Watkis-Porter of the Entrepreneurial You podcast.
Remember to join us next week for another exciting episode with our thought-provoking leaders as they debate thought-provoking ideas and methods to help grow your business and move closer to your goals.
To stay in touch, you can connect with us on your favorite podcast platforms at ‘Your Business Matters’ where we bring the matters to the table or visit eximbankja.com for further information and business resources.
As you continue to mind your business, I leave with you this quote from Peter Drucker "People who do NOT take risks generally make about two big mistakes a year. People who do take risks generally make about two big mistakes per year."Take care.