FundingHub case study: Female business owner

At FundingHub we are all about supporting female business owners along their funding journey. South Africa is one of only 12, where women's entrepreneurial activities have increased year on year, and in 2021 it was reported that 11.1% of working-aged women engaged in early-stage entrepreneurial activities.

Our mission from this case study was to hear female business owner stories, understand what the future holds and why they chose to use FundingHub. First up, we have Dené Wilson, the owner of BuyIt.

Please tell us more about your business?

BuyIt, is a general store based in Menlyn Park in Johannesburg. Our store is focused on selling products that are much cheaper than anywhere else. We are able to offer these low prices because the packaging may have a slight bit of damage, however the actual product itself is still in perfect condition.

What are your unique selling points of your business?

Not only are the lowest prices guaranteed, but we offer great in-store customer service.

What do you love about your team and business?

Team work is dream work, and my employees love working together as a team. They are exceptionally good at knowing every single product and price, and they can easily engage and be friendly with our customers. One of the things I love most about our business is that we could be the reason some house households are able to save a couple of pennies each month.

Please could you tell us more about your journey as a successful female entrepreneur

First of all, it was not easy. On my journey of becoming a female entrepreneur I have been faced with plenty of obstacles, but I made sure to push through. Before FundingHub and Merchant Capital assisted me, it was nearly impossible to get business funding to help my business grow.

What are some of the challenges and opportunities you’ve faced along your career? 

I’ve been faced with plenty of challenges and opportunities along my journey. Here are just a few:

Challenges: The first challenge was establishing starting funds. After that I have struggled with maintaining a budget, especially when we first opened our doors. Loadshedding has also not been our friend, and we’ve had a lot of initial costs here with buying a generator and UPS to keep the power on for our card machines. When you own a business, there is no “off time”, so I’m still trying to manage my time better, especially with running a business and studying at the same time.

Opportunities: Being an entrepreneur I’ve developed great leadership skills and can easily manage a team. It’s also great to be studying and running a business at the same time, as I’m able to apply my studies directly to business operations. I also love inspiring other women to start their own businesses.

What does the future hold for your company? 

Not only do I hope to expand my current business in the future, but I also hope to supply more areas and open more stores. 

How has FundingHub helped your business?

FundingHub was the key in starting my business. I used the platform to secure a business loan with Merchant Capital, and because of that I was able to start BuyIt and be my own boss.