Episode 10 - Retail Capital’s Karl Westvig on the surge in demand for small business funding
Karl Westvig is the Chief Executive Officer of Retail Capital, an established financial institution that offers asset finance and small business funding in South Africa. Retail Capital provides innovative, 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 also explains how SMEs can take advantage of the current market and how the pandemic can lead to new business ideas and an adapted way of thinking. The interview closes with Westvig sharing his recipe for growing a business during challenging times.