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Tulz

New Contributor
Mar 24, 2021
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Hi all,

I'm a Sales Consultant in the construction industry and am based in rural KwaZulu-Natal in South Africa. I read about the forum in The Millionaire Fastlane. Part of my job is to find new retailers to grow our customer base and in the process of doing this I found an area without a single retail outlet for hardware products. The area is at least 25km from the nearest business hub and has a documented population of 74k. With my mind of always seeing new possibilities, hence the title, I decided that this is my opportunity to start my retail empire, which is focused on rural communities in the country as that's where retail growth is in our country.

The problem is that banks in our country want stats especially about income levels and formal employment, which are not fully available for rural areas. I know that they are high growth areas because I have worked in 3 different industries selling to rural areas and have always had stellar sales figures.

Do you have any advice for me on how one can access business funding in the retail sector?

This is going to be huge as it entails different aspects of retailing opportunities.

Kind regards,

Tulz!
 

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MJ DeMarco

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Welcome Tulz. Have you tried some unconventional financing methods?
 

Tulz

New Contributor
Mar 24, 2021
2
1
11
Welcome Tulz. Have you tried some unconventional financing methods?
Hi MJ,

I have. As a result of such efforts I am currently awaiting the results of my application for membership into an incubator program that is backed by our president, Cyril Ramaphosa. I am also awaiting finalisation of a crowd funding application as well as an alternative funding scheme application that was recently introduced by one of the banks.
 

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