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Access 2 Finance
PUM Bid Network Uganda
Why do it alone, when you can achieve more impact in partnership? That’s exactly what BiD Network and PUM are doing – bringing access to finance and business growth advisory support together to serve entrepreneurs in Uganda. Recently (February 2017) a joint project took place in Kampala, where PUM supported - the by BiD pre-selected entrepreneurs - in developing their growth strategy.
Through small group (3-4 businesses) and 1-1 sessions, four PUM experts provided tailor-made hands on support in the development of a financial investment plan and roadmap as to directly advice on bottlenecks with an entrepreneur’s operations. Through this project, three (of the 11) entrepreneurs have secured capital for their growth investment so far.
Gert van Veldhuisen, Director BiD Network Foundation: "BiD Network offers 'access to growth funding'for smaller SMEs in East Africa, currently Uganda. Finding funding is very difficult for them because the amount is too big for family and friends or microfinancing institutions, but are too small for an investment fund. Bid Network has a large investment network that would like to invest in this type of business, but then they should be investor ready."
"In preparation for our half-yearly trip to Uganda, three financial experts from PUM together with about 10 entrepreneurs have drawn up a financial investment plan for the coming years that was linked to their developed strategy. That may sound clear and simple, but it is not. Many of these entrepreneurs have little or no experience in attracting funding and developing a financial planning. Therefore, the vast experience of PUM experts was very valuable, but also their empathy in the local Ugandan context. As a result, entrepreneurs are now financially better prepared for an investment and allow us to make more investments for our Ugandan SMEs and, together, we will achieve more social impact. We are very pleased with the cooperation with PUM and we are going to prepare the next mission taking place this summer."