BUSINESS DEVELOPment
FirstCred: In the path to Invest in the Growth of Small Enterprises • Prudent financial management the key to assured growth • Small businesses increasing at rapid pace • Applying the four stages of startup development to promote business growth Ambrose Batsalelwang FirstCred Chief Operations Officer
According to the World Bank, In the year 2016, the number of new businesses registered in Botswana was reported to be at 26,613. This number has been steadily rising ever since. Batswana are becoming more entrepreneurial and more business inclined. This is against the backdrop of inflation, low minimum wage, the COVID-19
pandemic and a desire to attain a better standard of living. This makes it more critical to know the fundamentals of forming and running a business. The financial experts at FirstCred emphasize the importance of financial management in every stage of a business’s development. Financial decisions that are taken
Strides Magazine
28
August 2021
in the early days of your business are critical. The conception stage is the most crucial because it sets the pace and trajectory for where your business will go and how successful it will become. Mostly, the success of the business can be mirrored on the principles applied by the individual; the thirstier and more principled an individual is, the better their
