Financiers still reluctant to fund startups � LEA

According to the authority’s annual report for 2016/17 financial year, over the last decade, LEA has developed about 2,749 business plans worth P1.3 billion but  only about 658 of them worth P277 million have been approved.

“This was mainly due to the limited financial environment faced by SMMEs, caused by low risk appetite for SMME start-ups and restrictive business loans requirements of the financial sector. “Entrepreneurs drive business success and their level of knowledge and experience is critical to the growth and survival of the business,” reads the report.