Tag-lines are brief marketing words or phrases that help customers remember and understand you. They can be similar or different to your mission. For example, the tagline of LifeBank – our 2019 1st Prize Africa's Business Heroes – is “in the business of saving lives” whereas their mission is “to save one million lives in Africa”. If you don’t have one yet, think of what it would be.
please provide the date that your company was formally registered with the “Registrar General” or other related government agency. This should be the date on your business license.
Number of years Actively operational:
refers to the number of years the business has been running for; in other words, when you first started to execute on your idea. This could be before you formally registered the business. For example, if you began working on your business on January 1st 2015 but registered it in 2016, in 2020 the number of years you’ve been operational is 5.
Primary country of operation:
refers to where your company has a majority of its staff, equipment and customers.
Industry of Focus:
pick the industry most applicable to your business.
refers to workers who occupy a permanent position and work for a minimum number of hours over a week/month/year (as defined by the employer) and are paid weekly, biweekly or monthly.
“What are the differences in stages of funding?”
You are still in an early stage of development and you are growing organically. During this stage, you’re likely still getting operations off the ground.
You have not formally raised a significant amount of finance/investment. Your funding may have come from your own savings, friends, family or via crowd-funding platforms and they likely do not have any stake (equity) in your company.
This is the first official investment stage. At this stage, your operations have stabilized and you’ve sought additional external funds to gain more traction and to accelerate growth. At this stage, the investors (angel investors, founders, friends, family, incubators, venture capital companies) take equity in your company.
You have any established track record (an established user base, consistent revenue figures, or some other key performance indicator), you’ve moved past your development stage and you’re at the stage where you’re developing new products, expanding into new markets or acquiring other companies. To support this rapid growth, you have gone beyond your first round of formal investment to raise more finance (often above $1 million). The investment is usually in the form of equity investment or convertible loans and is likely to come from experiences investors and have clear shareholder rights.