Ask yourself the following questions to

What is the nature of your need ?How urgent is your need ? How great are your risks ? In what state of development is your business ?For what purposes will the capital be used ?What is the state of your industry ?Is your business seasonal or cyclical ? How strong is your management team ?How does your need for financing mesh withyour business plan?

Ask yourself the following questions todetermine your business's financing needs:

Define the task/topic

Information-seekingstrategies

Location and access

Use of information

Synthesis

Evaluation

Define the task/topic Define the problem Write a statement or question that clearlyidentifies the problem (accessing funding).

Identify the information requirements of theproblem Acceptable Resources:

How many? Types? How current?

List tasks in order and create a schedule foraccomplishing them.

01

Determine the range of possible sources Make a list of resources that you knowabout and can use Ask another person or group for othersources you may not know about.

Determine priorities Select the resources on your list that willgive the best information Develop a priority listing of theseselected resources based on importanceto the search and their availability.

Information-seeking strategies

02

Locate the sources Identify the sources in your work and homeenvironments (internet, videos, social media,news papers Find additional sources in the organization orpublic libraries or seek online sourcesYou can also use references at the bottom ofInternet sites to find similar sources

Finding information within the sources Use the Table of Contents, Glossary, and Index tolocate specific information within each source. For electronic sources: conduct subject and wordsearches to locate the specific information youneed.

03

Location and access

Engaging the information in a source Read, hear, or view the information in a source. Identify the main ideas, key words, dates, names, etc.that will be important for note taking. Evaluate the information for reliability and usefulness.

Extracting information from a source There are many approaches to extracting informationfrom a source. If the source is written material, thePhotocopy/Highlight note-taking method can be used. When using other types of materials like audiotapesand videotapes, listen to or watch the wholepresentation first. Next, listen to or view thepresentation again, stopping to write down importantinformation. For electronic sources of information, downloadappropriate files.

04

Use of information

Organising information from multiplesources Put note cards (from multiple sources) inlogical order. If you are using online sources start tocompile it digitally

05

Synthesis

Judging the product Decide whether or not the search is fullycompleted (do you have a comprehensivelist of suitable potential funders?).

06

Evaluation

Resources include but are not limited to:start-up capital requirements, banking funding, government and related subsidies, borrowings

Identify the resources required forstarting your new venture:

Borrowing from the bankEntrepreneur fundsNational Youth Development AgencyDepartment of Trade Industry KhulaThuso Mentorship Programme

Funding options available

Utilization of any savings Cash salesOwner’s Equity

Alternative funding

Step 2: Analysethe problem

Step 3: Developalternative solutions

Step 1: Define theproblem

Step 5: Rate eachalternative

Step 6: Select the bestalternative

Step 4: Evaluate eachsolution