Financing a fashion business is one of the key components and prerequisites to being in business. There are some businesses that do not require large capital at the start, and in fact, some get the clients to pay in advance for the product or service offered. Sadly, these are not usually fashion businesses.
In fashion, vast amounts of finance and capital are required, often in advance. Disappointingly, financing a fashion business is like throwing money into a black hole; the more you throw in, the more you need to again, and again… So being good with money, or partnering with someone who is good at managing finance, is essential. Knowing how to raise money is also important and in most cases, it is necessary.
In the past, the route to starting a brand was often paved by fashion graduates or ex-fashion employees, whereas today anyone can launch a brand. Often, more mature people make a career change and armed with passion and perhaps a good idea, they launch a new fashion business. Regardless of how you ended up in fashion, the journey is often the same with all fashion entrepreneurs needing more money to finance their fashion business in order to survive. The crucial time is at the start; between the time that you have decided that starting a fashion business is what you would like to do, and up to the days following your business launch.
As part of your research, you should have a fair idea of what you will need, in terms of resources, materials and manpower in order to launch. Price it all up and then, double that figure. The chances are there will be many things you didn’t think of, didn’t know you need and that will arise as you get going.
If you are self-funded, congratulations! If you are not so lucky to have the finance behind you, and if you have any savings that you can put towards your business, that will certainly help. Otherwise, working part-time or even full-time to begin with, and dedicating your spare time to planning and starting the business, is a common practice.
Often, is it wrongly assumed that if you want to start a business, you need to drop everything else and just work on that? But that is a myth. The reality is, at least in the beginning, which having a job which takes care of your bills and necessities, allow you to have the peace of mind to focus on your new business. This may sound like you are spreading yourself quite thinly, but having less spare time can help you to be more focused on what you need to do. There is less time to second-guess every decision and you have to be stricter with your time.
Many fashion designers work on external freelance projects to generate more income for the business, as well as for living expenses, beyond the launch phase two. Anyway, as part of their build up towards the much anticipated fashion show, Masa Square Hotel hosted fashion designers for the second edition of The Talk Factory, held under the theme ‘’financial literacy’’.
Stanbic Bank’s Head of Secured Lending Wabo Moswate along with his colleague, Manager Commercial Relationships Vehicle and Asset Finance, Gosata Kgari engaged fashion designers and creative over a formidable discussion this past week on a Thursday evening. Centred upon a desire for driving financial literacy, topics of discussion at the night’s proceeding’s included budgeting 101, crowd funding and positioning your business to attract investors.
The bank, through such initiatives hopes to further engage with Batswana and impart valuable knowledge as they reaffirm their responsibility to extend themselves as a financial partner beyond just banking. They achieve this by adding value, providing exposure, information and their expertise to the communities they serve to foster an environment that facilitates their growth and success.
When speaking at The Talk Factory, Moswate said ‘’we are privileged to have been part of the informative session. As part of the bank’s strong desire to become a facilitator of improved youth employability and entrepreneurship, we took this opportunity to further illustrate that we are more than just a bank; we are a true partner, dedicated to helping Batswana build their own legacies. It is never too late to acquire knowledge and utilize it. We can gather wisdom and benefit from it, we can grow, progress and improve while in the process, strengthen the lives of those within our circle of influence’’
For his part, Kgari noted that the bank is excited about the economic transformation they are witnessing as Batswana youth continue to realise their potential, adding that the growth of the creative industry of Botswana remains both realistic and achievable through such pioneering dialogues, as they will continue to invest in the future growth of youth and local entrepreneurs through strategic partnerships. Masa Square Hotel will host its annual Fashion Show on the 2nd of November 2019. It is a creative platform that seeks to shine a spotlight on local talent in the fashion and beauty sector.
Fastjet Zimbabwe, the award-winning value-based airline, this week announced that effective Thursday, 30 June 2022, the airline will introduce a new service between Victoria Falls in Zimbabwe and Maun in Botswana.
The new route is scheduled to operate four (4) times a week on a Tuesday, Thursday, Saturday, and Sunday. Fastjet will operate the route using a 50-seater Embraer ERJ145 aircraft. This aircraft choice is known to provide the versatility to build a sustainable regional network with the right-size capacity while offering customers comfortable seating with generous legroom.
Fastjet Zimbabwe spokesperson, Nunurai Ndawana, said, “The airline is thrilled to introduce direct flights from Victoria Falls to Maun. Using our Embraer ERJ145 aircraft, we believe this route will facilitate more travel between these two tourism capitals of Zimbabwe and Botswana. This route has for many years been only available by private charter.
So, with the introduction of this direct connection, we believe it will be able to spur tourism development and growth in the region”. Fastjet Group Chief Operating Officer, Donahue Cortes commented, “The Victoria Falls – Maun flight is the second new route being added onto the fastjet regional network, with flights between Victoria Falls and Nelspruit Kruger Mpumalanga planned to launch ahead of the Easter travel period.
Despite the hard-wearing effects of the COVID-19 pandemic, the Group remains dedicated to the recovery and growth of tourism in Zimbabwe, South Africa and Botswana, and to bringing further connectivity to the region”. The new route will operate 4 times a week on Tuesday, Thursday, Saturday and Sunday connecting two of Southern Africa’s most iconic tourist destinations.
Botswana has been approached to host the 73rd Miss World, expected in 2024. During the appreciation event for Miss Botswana, Palesa Molefe, by Southern Epic Cycling Challenge in collaboration with The High Commission of India, Miss Botswana Management Company Chief Executive Officer (CEO), Benjamin Raletsatsi, confirmed that they have been approached by Miss World to host 73rd Miss World.
Speaking at the same arena, Raletsatsi highlighted that it has been his dream to host Miss World in Botswana. “Miss Botswana is one of the difficult projects to run. There are days I just wake up and ask myself why I am doing what I am doing because everything about me from integrity is often times torn apart.
Then Palesa came along and validated and confirmed that what I am doing is right because it is setting an opportunity for young girls in this country to have an opportunity to express themselves. Four years ago, when I took over Miss Botswana I had a vision, in my vision I wanted the first year to just be us participating in Miss World, second year was for us to participate and ask Miss World to allow us to host Miss World in Botswana, and the third year was for us to elevate ourselves as a country; whilst in year four we wanted to win Miss World.
We could have won Miss World in our third year of office with Palesa, but unfortunately COVID-19 happened. The idea is that this coming year as Palesa will be handing over her Miss Botswana tittle, she will be there to guide the next Miss Botswana on how to prepare for Miss World.”
Raletsatsi pointed out that the reality that Palesa did not win Miss World does not mean she did not do well. “She did exceptionally well”. He said at the end of Miss World there were ten pictures of Miss World participants who had a huge impact auctioned, and out of ten pictures two of those pictures were of Palesa.
The Miss Botswana management CEO highlighted that after the Miss World competition, Miss World responded to their request to host the 73rd Miss World. “They responded and said we can host 73rd Miss World if we are still interested in hosting it.
The current Miss World will be the 71st this year and then followed by the 72nd which is next year and the 73rd which will be in 2024 which has been offered to Botswana. The bigger challenge for me now is how I will be able to convince Batswana to bring Miss World to Botswana.
The honest truth is that Palesa has done her part as a change agent, it is up to us to do our part as Batswana to ensure that Miss World comes to Botswana and is a success. I was joking with one of my friends the other day to say, what Palesa has achieved in one year can take some companies, three to four years to achieve.”
You choose a path to be better or bitter, why do you have to expose a person, what do you gain from that? We react rather than become proactive. Mothers need help! Some said as social media turned into a battlefield this past Father’s Day.
Baby mamas came all guns blazing, ventilating their frustrations against absent baby daddies through social media posts. “As for me I feel women will be applying a hurting heart or she is bitter to expose baby daddy.
There are channels one can follow to solve this issues rather than rushing to Facebook and exposing them, it’s reacting rather than solving the reality of the problem, it won’t help you, after all what will Facebook do to you? Would it give you the food, would it make the father to support the child, but there are channels one can follow like one can consult with the laws then this man will know the right thing to do”, said Obonye Obza Thapelo who is baby daddy of two daughters.
Thapelo further argued that if you seek for definition you will lose a father, “we have our fathers, it’s not about the responsibility, if we are talking about a father on happy father’s day don’t talk about the definition, talk about father’s day, it never say define or describe whose a father.
When you come back to family, we have family dynamics, family faults and family failures, so if you have family failures, for example, if I have been taking care of the child while we were together and it happens we break up and I stop taking care of the child, are you not going to call me a father just because of my failures?”
“If we are going to look for the faults we won’t be building fathers that we want. “It says happy father’s day, it ends there, and it’s not about the responsibilities. A responsible father depends on one, I can be a fathers because I am your mentor, I can be a father that am not supporting financially but I can just call and check on my child, I can be father that have money but still fails to support but am there physically but not economically, am there emotionally but still am a father.”
“Speaking from experience, my baby daddy have never been there in my kids life so in my own opinion I think happy father’s day means to acknowledge fathers who are present in their children lives, man who are there for their children, I don’t mean for the mothers, am saying their children.”, Norah Moloi mother of three cried.
“Women are reactive to this issues because it hurts to be left alone with children. Seeing other women praising their baby daddies and as for us not even knowing what to say to our children, they don’t even know if this day do exist hurts. I grew up without a father too, I didn’t even had a privilege to wish him that, even happy birthday to him too. I think this now seem like a trend, it’s like a culture now because it’s like everyone is abandoning their children,” Moloi explained.
“There is co-parenting, I mean if you have problem with me exclude the child from our problems. For us to have a healthy children who are mentally fit we ought to be in the same page. Let us hide our problems from our children. When two elephants fight, it is the grass that suffers, that is why you saw on social media even kids venting out about their absent fathers.
“As for fathers who are not in their children’s life why should we wish them father’s day? It is like throwing a seed on rocks and expect it to germinate without proper soil, proper sunlight or even without water and expect to reap at the end of the day.
Do you expect such a planter to be praised that they have sowed anything? You are a planter yes but where is your seedlings, you just threw a seed and abandon it, as for me is a big NO! There is a mistake that men turn to make, they think children cannot see all the struggles mother goes through trying to made ends meets for them and later blame it on baby mamas for using children when tables turns.
“Ask yourself, are we to wish man who denied pregnancy father’s day? What of those who long abandoned their children? What is there to be wished? What is supposed to be happy about the day? We are not bitter, we are asking them to put themselves in our shoes,” Moloi expressed herself.
Adding on Calvin G Zacharia father of one daughter says that was a cry for help to single mothers, he said men who are not there for their children don’t deserve to be wished father’s day since they are not playing their role.
Zacharia urged mothers to involve the authority, “there is no use to pass remarks on social media without taking action. If the parents had messy break up they should find a common ground for the sake of their child/children”. It depresses the kids not having another party not playing the role on their lives.
“I think ladies are bitter, just because some man don’t give us money we start labelling them as deadbeat”, Boitshepho Gasefiwe mother of one. Men have their reasons for not being there for their children. There is always two sides of stories. Some kids I saw on Facebook I feel meddle in elder people’s issues without knowing the facts.
When giving his views, Thando Morgan, father of one daughter highlighted that he feels it depends on someone’s emotional intelligence, some act according to how their baby daddy treated them. “Baby mamas know their baby daddies better to find fit worthy a father title, some are venting out because they suffer alone in raising the kids alone.