“I don’t need solutions, I need 5 million.” – Skinny Sbu

Sibusiso Ngwenya (27) says he needs ‘money not solutions’ when asked about the challenges facing his business.

On SABC’s ‘Market Sense’, Sbu, founder of ‘Skinny Sbu Socks’ says he is angry and frustrated at the inaccessibility of funds for small businesses.

“We have been received with great love and support.

“But now we need to take the business to the next level, and that drains a lot of money.

“The bigger the business grows, it takes a lot of money.”

The five-year-old brand started which Sbu’s passion and love for socks, trended for a while, until recently.

He admits that he fell into debt a few years ago while working with a national chain store.

“This is a premium brand, and I know we aren’t making something that people need.

“So we have to keep shoving it down their throats.”

Thulani Thabethe of 2larney Solutions, says the failure rate of smme’s in the country is shocking.

“Generally we love to support each other in business but factors, such as, brand perceptions come to play.

“It is important to understand why a business concept trends, and why it would stop.

In response Sbu says the issue is not marketing.

“Small businesses need money.

“The frustration comes from me running the company out of my own pocket.

“The government needs to make it easy for us to access money.

“I am angry at everybody.

“What I want to happen, to keep the business profitable, I need R5-million.

“I don’t need solutions, I need R5-m,” says Sbu.

Thulani,says in business you cannot be emotional.

“It’s not personal, its business.

“You have to be teachable, you can’t be a know it all.

“For an investor to invest in your business, they look at your sales.

“They need to know that they can make the money back.”