By Dedan Kimathi
Impact investment guru Huseyin Demirhisar has urged emerging entrepreneurs to develop clear and viable business plans if they are to secure investment capital from reputable international financial bodies.
At a Bid Network seminar that was held at innovation village-Ntinda, Kampala, Huseyin noted that majority of small and medium entrepreneurs fall short of getting start up funding because of unrealistic business plans and poor positioning.
According to Demirhisar who also doubles as chief operating officer of Bid Network, an independent business advisory, as a rule of thumbs business owners around the country need to ensure proper record keeping, have unique ideas and a well constituted revenue team.
Other than that, he says that business owners must have a clear revenue approach in order to attract interest from private equity and venture capital firms.
“Investors might shy away if you ask for too much money without an elaborate business plan and pay back strategy,” he notes.
Bid Network is a Dutch-based independent business advisory that specializes in deal making and securing investment capital for small and medium enterprises throughout East Africa.
Since it commenced work in 2007, it has helped facilitate twelve investment deals with a value of nearly $4M.
Access to low interest financing remains a big challenge for entrepreneurs in Uganda as they seek to scale up businesses.
Huseyin also called upon entrepreneurs to make good use of investment advisories in order to acquire interest friendly loans from a pool of angel investors across the world.
“As an entrepreneur, try to find someone who will pitch and act as a reliable intermediary between the entrepreneur and investor. Someone who is ready to commit for your cause,” Huseyin cautions.