Karl Westvig is chief executive officer of Retail Capital, an established financial institution that offers asset finance and small business funding in South Africa.
Retail Capital provides flexible and convenient alternatives to traditional business loans, helping small businesses across South Africa to achieve their goals.
Westvig’s entrepreneurial journey began in 1999 when he founded the RCS Group and built it into one of the largest consumer finance businesses in South Africa.
He is an expert in consumer and SME finance in Africa and has a passion for entrepreneurship and helping start-ups grow their businesses.
In this Business Talk episode, Westvig discusses how demand for small business funding has changed over the past 18 months.
He talks about how businesses are assessed before being approved for funding, and how this metric has evolved in recent years.
Westvig says SMEs can take advantage of the current market, noting that the pandemic can and has led to new business ideas.
He closes out the interview by sharing his recipe for growing a business during challenging times.
The full interview is embedded below. You can find all Business Talk with Michael Avery interviews here.