Written by:
Marie Le Roux, Communication Officer, PSASA Pretoria Chapter https://linkedin.com/in/mariethereseleroux
Megan Dedekind, current Area Manager for Business Partners, led the Pretoria Chapter members and guests through the spectrum of funding options available to entrepreneurs — including speakers, trainers, coaches and facilitators — in South Africa. For speakers, the message was clear: sound business practice is the key to becoming funding ready.
The greatest obstacle South African entrepreneurs identify to succeeding in business is a lack of funding. Yet guest speaker Megan Dedekind painted the picture of a very different problem. From the point of view of funders, there is plenty of money to go around. Their challenge is finding businesses that can prove they are worthy investments. That is where the invitation lies for speaking entrepreneurs.
When it comes to funding, the old adage holds true: nothing succeeds like success. Funders like to know that the business they invest in has already proven that it is capable of succeeding. This is the best evidence that it will be a good investment that yields returns for all stakeholders.
The good news is that multiple sources of funding are available for local businesses that prove to have a solid plan in place. Apart from commercial banks and lenders, Megan introduced multiple sources of venture capital, private equity, government grants and partner investment. Of particular interest to women entrepreneurs is the Basadi-Women Growth Fund, which is exceptionally accessible and advantageous for majority female-owned businesses.
As to those stalwart first investors that former PSASA President Bruce Wade has called “Friends, Family and Fools”, Megan pointed out the pros and cons. While they tend to be great supporters who demand low or no interest, there can be a high price to pay. Her most vital advice was to put any investment or loan agreements in writing, since those relationships are worth far more than money.
10 Top tips to get funding ready
The best way to qualify for funding is to build a successful, sustainable business that is already growing. In addition, Megan offers a few tips for speakers seeking investment in their business. Incidentally, most of this advice applies to anyone seeking to succeed in business, so each tip is worth noting!
1. When seeking investment, do your homework and go prepared.
2. Believe in yourself and your business.
3. Have your business housekeeping in order.
4. Don’t be afraid to negotiate.
5. Be honest and open.
6. Only borrow if you really need to.
7. Only borrow if the loan will help you make money, not just “plug holes”.
8. Always put investment and loan agreements in writing, especially with friends and family.
9. Nothing comes easy. If unsuccessful, don’t give up.
10. Remember, you have a right to ask why funding was declined so you can learn and do better in future.
What members say
The business angle of this presentation brought members a fresh perspective on the potential of their speaking businesses.
Wealth coach Mamohau Nkosi, author of Think Like The Wealthy Not The Rich, from PSASA Johannesburg Chapter, found the alternative sources of funding and tips for securing funding especially useful.
Local Chapter member Anthony Ntobeka Peter, author of Breaking Free from the Shackles of Financial Slavery, commented to Megan: “I think I am in the right place at the right time. I am so grateful for the information you have given to us. It’s so valuable.”
Other Chapter Meeting Highlights
Pretoria Chapter newcomer Claire De Muelenaere took the stage as MC, inviting the audience along a leisurely tour of exotic destinations from one activity to the next.
Pretoria Chapter President Kakanyo (“KK”) Pilane, who has been re-elected for a second term, closed the evening with a word of thanks to the Auxano7 venue team and Oh Mai Catering who have helped to make Pretoria Chapter meetings such a success over the past years.
President KK also gathered with her leadership team. PSASA Association Treasurer Ian Bratt, while officially a Johannesburg Chapter member, will remain a valued advisor. Anthony Ntobeka Peter steps in as Deputy Chapter President and Youth Officer, while Claire De Muelenaere is taking on the role of Speaker Liaison and Marie Le Roux continues as Communication Officer. As a Past President of the Virtual Chapter, Ian Hatton, takes up the role of Professional Membership Ambassador to support Associate Members in taking their next step.
Conclusion
This business-focused meeting gave PSASA Pretoria Chapter members fresh perspective on the availability of funding for their speaking businesses. It also invited them to take an honest look at their business plans and models to ask whether they are a good investment. Ultimately, a speaker invests time, talent and energy far beyond what money can buy into their business. We owe it to ourselves to make this priceless investment yield.
About Guest Speaker Megan Dedekind
Megan Dedekind is the current Area Manager of Business Partners in Pretoria. Business Partners is a financier and investor for SMEs (Small to Medium Enterprises). Megan heads up a team of investment officers with the focus on providing Business and Property finance to the SME market. What excites her most about her role is working daily with entrepreneurs who are ultimately problem solvers and innovators.
LinkedIn: https://www.linkedin.com/in/megan-dedekind-b4171483
Website: https://www.businesspartners.co.za
Basadi-Women Growth Fund: https://www.businesspartners.co.za/basadi-women-growth-fund






