Many Small-to-Medium Entreprises (SMEs), are popping up all over the country in different sectors. Worryingly, a disproportionate number of these enterprises are succeeding- they are falling like dominoes. This is mostly attributed to the lack of funding, training (how to run a business) and mentorship/advice.
Luckily, we now have ZimStart which is helping out these enterprises to access all these critical factors (funding, training and mentorship). As ZimStart puts it:
ZimStart is community project that seek to assist Zimbabwean-based entrepreneurs to start small businesses and grow them into large companies. We assist with funding, training, advice and other solutions. Our work is mostly focused on the Agricultural and Manufacturing industries, although we do consider applications which focus on other sectors.
What really is ZimStart?
ZimStart is, in a nutshell, a platform where young/small enterprises and projects by aspiring entrepreneurs are listed so as to get funding from anyone (I will explain this later). If an SME (or soon-to-be SME) is in dire financial straits, they approach ZimStart so that it helps them to access funding. ZimStart’s first act of due diligence is to verify if the enterprise is engaged in a
After a project satisfies their requirements, the project gets listed on ZimStart’s website for anyone to invest. When the public sees a project they think will prosper, they simply get hold of ZimStart to process the investment. As ZimStart’s puts it:
Investors are invited to browse our projects section and download business plans and budgets for any of the projects that they may be interested in. Investors are paid back when the business starts to make revenue and are welcome to negotiate mutually beneficial terms. Although all project owners have to repay all loans, donor money is generally not paid back to
donors, but is instead continually reused to assist future applicants and their projects.
If somehow you dont satisfy ZimStart’s requirement of being an investor, you can simply donate money for a certain project. For transparency purposes’ ZimStart lists all the donations for everyone to see.
About the projects
ZimStart says it accepts all sorts of projects, as long as they are viable and promising. At the moment, there are 4 projects listed on the platform. You are able to see each projects business plan, its progress and the background as well as the person (people) behind the project.
Furthermore, ZimStart has a list of ideas/projects it encourages people to get into so that they can secure funding. Therefore, if you
Application to get listed and more information
Contact ZimStart on info@zimstart.com and +27 76 396 6325
2 comments
There must be accountability on the platform for investors. One of the problems with Zimbabwean startups is that instead of persuing the idea with the aim of creating something with the potential for growth, startups are treated as an alternative to regular jobs that are hard to come by. I’ve met people who are “running” startups on one end, but looking for a job on the other. Such people are always on the prowl for investors as they easily burn through funding.
It just takes one bad startup to ruin this platform.
After browsing their site: I have a problem with nameless and faceless organisations that look for investors and funding. Another funding platform, YouFarm also has the same problem. It will be very hard to find investors, to begin with, if there isn’t any information about the individuals who will be curating/managing their funding. The platform begins to look like a black-box, where one has high chances of losing their funding. In MY opinion, the moment you “hide” there is a reason for hiding, so I won’t trust you.