Windhoek-Faustina Matamu, owner of Mudi’s Butchery in Keetmanshoop, has been on her exciting entrepreneurship journey since February 2016 when she applied for a loan from the FNB SME division to start a butchery in the town.
“It was a great learning curve as it taught us the value of preparation and patience as we were guided through the entire process of applying for the loan. This helped us to add to the business plan we already had and made it more precise and more detailed, which enables us to run the business smoothly,” said Matamu.
She recalls that the loan had been the best option as the amount they required to furnish the business was quite high and a personal loan would not have been enough to secure all the equipment needed to establish a business that could be successful within the current competitive market.
“We have been in business for 10 months and have managed to become a well-known enterprise within our town and community for being the cleanest and most affordable. While we are still re-paying the loan, we are also saving at the same time, so we can open another business soon,” she said.
Her recommendation for prospective business owners is proper advertising and being unique in terms of the quality and service, and to add something to the market that is lacking. She recommends: “Not doing proper market research results in new businesses copying existing ones and this causes them to struggle in making an impact, because people will rather stick with what they know than go for something that’s new and not yet established.
It’s very important to be a bit different and to provide something better than what is currently in the market. It is vital to be open and to communicate with other business owners to gain some knowledge from their experience. Always try to improve on what you plan to offer by thinking outside the box and never be afraid to go to your local bank or financial institution to ask for advice. Advice from others can make your business plan stronger and can help you be successful. Most importantly, when it comes to business, nothing is ever easy but the key is to stay positive and always keep pushing towards your dream.”