Running a Business is
like war. You either make profits or you make loses. That is why most
professors advise MBA students read the most unlikely book: The Art of War by
Tsun Zu. Available statistics of business mortality rates seems to reinforce
the analogy that running a business requires a replica of strategies, typically
employed by war planners. A great number
of businesses do not live long enough to celebrate their first anniversary. GoBigHub.com
exists primarily to solve some of the most pressing problems afflicting entrepreneurs.
With the myriad
challenges startup entrepreneurs have to contend with, GoBigHub.com has
positioned itself as a leading one-stop support hub for entrepreneurs of all
walks of life. If you asked most startup entrepreneurs about the key challenges
impeding their progress, lack of capital or rather capital acquisition, would
top the list.
Dubbed the Silicon Valley
of Africa, GoBigHub.com has readied itself to play a pivotal role in creating a
favorable ecosystem for small businesses across Africa. Given its propensity,
GoBigHub.com connects local entrepreneurs to local investors for the benefit of
both the investors and the entrepreneurs. The investor gets a return on
investment accrued from invested funds. The entrepreneur gets the much needed
capital to fund their business ideas.
Most entrepreneurs
with the most brilliant, commercially viable and scalable business ideas get
connected to investors quite swiftly. The entrepreneurs are tasked to specify
the exit strategies for the investors. The investors either provide the
financing as equity financing in exchange for stake in the funded companies or
as debt capital which the entrepreneurs pay back at a mutually agreed interest
rate.
The work of GoBigHub.com
is embodied in the firm believe that trade, rather than aid will spur Africa’s
economic transformation. The management and staff of GoBigHub.com strongly
believe that when people pool resources together, the resources available could
fund the next generation of big Businesses in Africa. The Pan-African vision
informs the company’s aspiration to spread out and set franchises in all major
African Cities.
The process of
applying for funding is quite simple and straight forward. The entrepreneurs
applying for funding from investors can register on GoBigHub.com website and
fill online application form requesting for funds. The application indicates
the problem the entrepreneur is solving, the sales projections, the target
market, ownership and management structure of the business. The applicants also
attach business registration certificate, financials and other relevant
business documents. Investors then browse through the GoBigHub.com website to
see investment opportunities available.
GoBIgHub.com also
organizes “GET FUNDED” events in which entrepreneurs are given the opportunity
to pitch directly to investors about their ventures. After the presentations,
the investors pick ventures they are interested in investing in. GoBihHub.com handles
the legal aspects of the transactions such as drawing agreements and witnessing
the sighing thereof. The investors
transfer the amounts of money committed for investments through GoBigHub.com
for onward disbursement to the entrepreneurs.
The efforts of the
team at GobigHub is now yielding fruits. According to its Founder and Lead Mr.
Ojijo Pascal, the company has an ever growing portfolio of companies and
projects for which GoBigHub.com has secured funding to the tune of hundreds of
millions. It’s noteworthy that GoBigHub is also nurturing an investment culture
across the continent. Some of GoBigHub.com’s investments in projects such as
fish farming and other agricultural ventures were raised from multiple
small-scale investors some of whom contribute as little as UGX 50,000/=. For
the first time, small-scale investors are beginning to realize the power of
collective investment schemes such as SACCOs, and Investment Clubs.
GoBigHub.com also
provides affordable business incubation space for startups as they grow their
business. The Incubation space has internet connection, drawers, ample parking,
water, in a conducive environment. At request, the incubator also allows entrepreneurs
to pay for daily use of the incubator.
The Hub also offers
mentorship opportunities for startup entrepreneurs. Through Inua Kijana
fellowship programme, budding entrepreneurs are assigned to different mentors
who have successfully grown the type of business the entrepreneur is running. The
mentors devote their time to share real life lessons learnt and experiences in
running their own businesses.
GoBigHub.com has
previously partnered with other organizations and Ugandan incubation hubs such
as Mara Foundation, Food Science and Technology Incubation Center, Uganda
Industrial Research Institute, Global Business Labs and Outbox to run
accelerated Business mentorship.
GoBigHub.com is thus
a great place for every African entrepreneur who has initiated and building a
business. Startup entrepreneurs can
follow them up on social media platforms to keep in touch with new
opportunities available for entrepreneurs.
Owachgiu Dennis
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