Personal money funding most small businesses – survey
Published On February 26, 2024 » 1520 Views» By Times Reporter » Business, Columns
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By KETRA KALUNGA –
THE 2022 Micro, Small and Medium Enterprises (MSME) financial survey report has revealed that the start-up capital for businesses in the country mainly come from personal funds, family and friends.
According to the findings of the report, the country has 1, 553, 892 MSMEs, and of that total, 98.8 per cent were micro, one per cent small and 0.2 per cent medium sized indicates that about 69.3 per cent of business owners reported that their source of start-up capital was from their own funds while 27.4 per cent was sourced from family and friends.

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