Bridgement Blog
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The Bridgement blog offers tips, advice, news and more on how to run, improve and grow your business. Bridgement offers simple finance to small businesses across South Africa, enabling them to expand their operations, take on bigger projects and bridge gaps in cash flow.
Bridgement Blog
1w ago
Whether your business is a humble start-up or nearing unicorn status, you will inevitably need financing at one point or another to achieve the next stage of your growth.
If you want to take your business to the next level by purchasing new equipment, expanding your team, or even leasing new premises, here’s the inside guide to ensuring that you are 100% prepared for a successful financing application.
What kind of financing is best for your business?
If you’re in the business funding market, you’re likely looking at solutions from traditional finance institutions and alterna ..read more
Bridgement Blog
3w ago
So far, the 2020s have proven to be an economic era defined by instability and uncertainty. This is why SMEs should aim for consistent rather than episodic growth, but it’s also why achieving the former can be so challenging. Fortunately, we’ve developed a four-point plan to guide growing businesses through developing a growth consistency plan, including practical solutions like short-term business finance solutions that support long-term prosperity.
As most seasoned entrepreneurs know, having a brilliant product or idea is the first step towards running a successful business. However in ..read more
Bridgement Blog
1M ago
The beginning of March heralds the start of the new financial year for many. The SONA and budget speech have been delivered, the new tax year has begun, and everyone is starting on a clean slate. That makes this the perfect time to perform a little spring (autumn?) cleaning around your operating expenses, especially as some accounts drop off and you’re preparing for new ones to come flooding in. Our top tips? Prune unnecessary expenses and consider a working capital loan if you need one.
Operating expenses vs. overheads
Quick recap: operating expenses (OpEx) are fluid costs in the busine ..read more
Bridgement Blog
1M ago
With the end of the 2024 financial year just past, it’s a time that small business owners tend to brush up on their tax acumen. The world of tax is complex, and diving in can feel precarious for the average entrepreneur. Fortunately, you don’t have to be a full-blown financial professional to get the most out of your tax return. With a few of our best financing tips, you’ll be well on your way to trimming costs and submitting stress-free tax returns.
Tip 1: Avoid penalties from SARS
Given the relatively recent changes made to the Tax Administration Act, ensuring that your business is SAR ..read more
Bridgement Blog
1M ago
As entrepreneurs and finance professionals, staying abreast of the Budget Speech is of the utmost importance — especially when you’re considering factors like capital financing. But, if you didn’t have a moment to spare to listen to the full speech by Finance Minister Enoch Godongwana, we’ve got your back. Here’s our summary of the most salient points from the Minister’s address that pertain to SMEs.
Potential SME challenges outlined by the budget speech
While the budget speech can’t ever really be split evenly down the middle into “good news” and “bad news”, the Minister did menti ..read more
Bridgement Blog
2M ago
Imagine you’re a small business owner sitting down at your laptop or scrolling through your smartphone, Googling funding solutions for your growing enterprise. You’re more than likely to encounter the term “unsecured business loans”. “Hmm,” you might think to yourself. “That doesn’t exactly sound like the kind of funding solution that gives a business owner the financial security they need to grow and flourish.”
Ironically, though, the “unsecured” part of “unsecured business loans” has nothing to do with the effect they can have on your business. Small business loans can be secured or un ..read more
Bridgement Blog
3M ago
South African SMEs are faced with a challenging conundrum: to achieve powerful, long-term growth, businesses need high-value resources like quality talent. But quality assets require an investment of time and money, two resources that are in unrelenting demand in growing businesses. That’s why access to fast working capital is so crucial for small enterprises.
Because it’s not just about access to working capital — it’s about access to time. Time to make slow, considered decisions that align with the long-term growth strategy of the business without jeopardising cash flow.
The true ..read more
Bridgement Blog
3M ago
We’re at the start of a new year, which means it’s the perfect time to reevaluate your marketing efforts, carefully analyse what has been working and what hasn’t, and look for new ways to engage new clientele and expand your business. Unless, of course, you’re 100% content with repeating the same outcomes as last year.
This isn’t news to most of you, but AI will continue to open doors for scaling up and increasing operational efficiency in 2024. Very likely at a much faster pace than we saw in 2023. The problem is, more AI-generated content means a bigger battle for everyone’s attention. Accor ..read more
Bridgement Blog
4M ago
Good credit helps you get good credit — that’s a fact, although not one commonly shared with small business leaders. According to Fundera’s 2023 Small Business Lending Statistics and Trends report, 36% of SMEs were denied small business financing options because of their credit score. According to experts writing for Forbes, part of this can be explained by a lack of awareness surrounding credit scores and how frequently and timeously they pay their bills.
Knowing what your credit score is and how it works is the first step towards maintaining a healthy credit profile, which can have far ..read more
Bridgement Blog
4M ago
The importance of healthy, positive cash flow is not a revelation for most small business owners. At this size, ensuring a consistent and healthy inflow of cash to meet operating expenses (and growth opportunities!) is a primary goal. This is why it’s important to consider online SME lending and other cash flow risk management strategies designed with small businesses in mind.
Furthermore, despite essentially comprising the backbone of the local economy, growing businesses are often denied access to efficient and effective business funding by legacy lenders whose services are best suited ..read more