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Startups: Why investing in your online presence is essential for growth
Startups (Image credit: entrepreneur.com)
Ever since we entered the electronic era it has become increasingly part of the global business culture to search for products and services online and make transactions. It’s therefore crucial for any business looking to thrive that a virtual version of the company, particularly for new and small businesses, is accessible on the web.
Establishing an online presence for your business means that your company has 24/7 visibility. It’s also the most innovative way of building your brand, engaging with your existing clients or potential customers, and creating networking opportunities. In addition, being online extends your business’ reach beyond your physical geographical location and allows you to access markets you may not have been able to otherwise.
Furthermore, you can cost-effectively promote your offerings beyond borders and create a demand for your products or services in previously inaccessible markets, giving your business unlimited growth potential.
The importance of establishing your business on the internet
The internet democratises commerce due to its anti-monopoly nature which gives startups or small businesses the opportunity to create far-reaching impressions and the chance to compete with larger and more resourced corporations on an even playing field. However, to gain competitive advantage online is not a matter of simply just creating a generic web page in hopes that customers will come flocking because if that’s the assumption then you’re unfortunately mistaken.
The Digital Economy Survival Toolkit is a book that highlights why being online is important for startups and small businesses. It gives insight into why any business should invest in having an online presence. It also covers the key elements that make a website effective and how to successfully launch a new product and fund a startup.
Knowing what it takes to be successful business on digital platforms is important and every startups should learn why strategic networking is truly the nexus between entrepreneurs and success. In today’s world of remote working, knowing how to use virtual staffing to better your business has become vital. Communicating with customers via webinars and understanding the importance of branding your webinars is also key to successfully launching a profitable online business.
In terms of growing reach and traffic, entrepreneurs need tools that enable them to ensure their businesses have competitive SEO rankings because without brand visibility there’s no way to drive large volumes of traffic to a website. Other crucial aspects that give online entrepreneurs the edge include knowing how to combine email and social media to maximize the impact of marketing campaigns.
So before you introduce your company to the world of internet users, which according to Internet World Stats is roughly just under half of the total global population and set to significantly increase over the coming years, you need to have a clear strategy outlining your objectives as far as what it is you hope to achieve by establishing your company’s presence online.
Setting up your digital real estate
Having a basic web penetration strategy allows you to have an idea of what to expect and to estimate the rate of return for the resources you will invest in setting up your online presence. Most small businesses and startups do not always have access to large budgets which can be allocated to this however, it should be encouraging to know that the prices for building a decent website are fairly reasonable depending on the scope and you can get started by simply:
- Picking a unique domain name and selecting a hosting service package – you can get free web hosts and portfolio sites online but it’s best to have your own domain name which you can personalise for your business.
- Finding a design that best fits your brand – with almost an unlimited number of website designs available, you want to find one that gives your users the best experience and reflects your aesthetic.
Key elements that make a website effective
There are several actions you would need to take in order to give your startup the edge it needs to successfully compete in an extremely competitive world. A good website should incorporate some, if not all, the elements listed below:
Captivating headlines
Every website should clearly communicate your business offering to potential customers from the start. It is therefore important to have simple but impactful headlines. Your headlines and subheadings should describe what your business does in a straightforward manner. Remember, first impressions are everything and if your content is not engaging from the get-go customers will most likely bounce off your site.
Comprehensible value propositions
Once you have briefly outlined what your business offers, the next step is to show your audiences why what you do matters. Here you should focus on showing the benefits or advantages of your products or services by explaining the main features.
Success indicators
Since the internet is inundated with sites promising consumers all kinds of benefits, it is crucial that you show why customers should choose your products or services over the competition by proving how those who have already chosen your business have benefited. This is also an opportunity to gain the trust of any potential customers.
Resources and content
Customers tend to initially visit websites with the intentions to find out more information and not necessarily to make immediate purchases, which is why most startups or businesses are enhancing their offerings by providing potential customers valuable content relevant to their products and services.
Calls-to-action
Ultimately, the purpose of your website is to convert visitors into customers. To do this effectively, it is imperative that you include a call-to-action on your site. For maximum impact you can have one at the top of the webpage and another at the bottom. Good call-to-actions are designed to inspire an immediate response from your audiences with the most popular ones being “call now” or “visit our store today”. You can also use call-to-actions to generate sales leads by including a “find out more” option where website visitors would be prompted to submit some basic personal information such as email addresses in order to access more comprehensive content.
Optimising your website
Creating a compelling website which functions effectively is the next step towards cementing your company’s presence online. In order to achieve this you need to ensure that your newly created website is optimised. This allows your webpages to be easily discoverable in search engines and rank higher in search results, making it easier for potential customers to find you. Search Engine Optimisation (SEO) involves adding valuable content to your site and using keywords to drive organic traffic to your website.
To make your website search engine friendly and for best performance, there are several areas you could focus on including:
Also Read: Meet The Resilient Black Brothers Saving The Planet One Car At A Time
Keywords
These are essentially topical words or phrases that are used for emphasis. They are also words used by search engines to find relevant pages on the web. Startups or businesses should aim to create content around topics pertaining to their business offering which can help them rank higher in search results so that people looking for information related to those keywords have a greater chance of landing on their webpages. Your choice of keywords should help visitors and potential customers understand the purpose of your page.
Content
For your website to gain prominent visibility online you have to create content that is well-written and error free. Producing great content not only helps your website rank higher in search results but also keeps your audiences engaged and establishes you as an authority in your desired sphere of influence on the internet. Above all, make sure you create quality content that gives readers value.
Responsive Design
With more people accessing web content via mobile devices in comparison with desktop computers, it is crucial that you use a responsive or mobile optimised design for your website. Search engines such as Google also recommend responsive design since it makes it much more convenient for visitors to have a single URL. Setting up your website in this way helps web pages load faster because your website will not have to be redirected to another page for a mobile device.
The secret to success for small businesses and startups
Now that you know why it’s important to set up a presence for your business on the internet and understand the importance of online participation, as well as what it takes to have a functional website, you can rest assured that you’re not lagging behind the competition.
The secret to succeeding in the digital era rests simply on knowing how to utilize the web to your company’s advantage. What’s great is that the internet acts as a great resource for finding techniques to enhance your business and because the developments on how best to thrive online are ever evolving, you too have a fair chance of boosting your business prospects and no one can claim to have the upper hand as long as you stay updated on the developments.
For a comprehensive list of descriptive links to free resources, tools, platforms and apps that you need to set up an income generating business on the internet also check out The Digital Entrepreneur Manual.
Author: Heath Muchena
Press Release
African Guarantee Fund and Clean Cooking Alliance challenge Africa’s Banking Industry to invest in Carbon Markets
The African Guarantee Fund (AGF) and the Clean Cooking Alliance, in partnership with the U.N. Capital Development Fund, have joined forces to empower Africa’s banking industry with knowledge and insights necessary to navigate carbon markets effectively.
Under the Partnership Platform for Clean Cooking Finance, the three institutions hosted over 100 Senior Bankers in Kenya for a “Banking on Carbon Markets” workshop that focused on financing clean cooking projects. Carbon finance business models, the intricacies of financing clean cooking projects and their associated risk-return profiles, were some of the topics discussed. Industry leaders and investors shared global evidence and practical experiences in underwriting risks related to lending to clean cooking carbon projects.
The workshop comes close on the heels of the Africa Climate Summit that brought together global key players in Nairobi. António Guterres, the UN secretary general, told the conference. “Africa is home to 60 per cent of the world’s best solar resources — but only two per cent of global investments in renewable energy over the last two decades. Now is the time to bring together African countries with developed countries, financial institutions and technology companies to create a true African Renewable Energy Alliance.”
The spotlight on green and sustainable finance primarily centers on mitigating climate risk, but the untapped potential for banks to maximize opportunities through climate action is often underestimated. In the face of mounting pressure from customers, shareholders, investors, and regulators, banks are compelled to align their corporate strategies and lending criteria with Environmental, Social, and Governance (ESG) standards.
Speaking at the workshop, Mr Patrick Lumumba, AGF Group Director of Capacity Development, emphasized that “Carbon projects have become instrumental in channeling funds across various sectors of the economy, expediting transitions towards a sustainable future. However, banks frequently lack comprehensive data to assess the risks and returns associated with carbon projects. They also lack information about effective market entry strategies, growth-oriented business models, risk management, and prudent portfolio construction practices.”
“Today’s workshop is a clear example of AGF’s capacity development efforts in action to enable the banking sector venture into carbon markets by way of increasing financing of clean cooking projects. Prioritizing this sector directly impacts on several SDGs such as gender equality, good health and wellbeing and indeed climate action.”
Mr. Feisal Hussain, CCA Senior Director of Innovative Finance, noted that “Banks are essential to realizing the full potential of the carbon markets by helping to fill the financing gap needed to initiate and scale up carbon projects. This is crucial to accelerating the clean energy transition and transforming the lives of people who currently do not have access to clean cooking fuels and technologies.”
“The new Partnership Platform for Clean Cooking Finance is key to this endeavor as it brings together several distinctive capabilities: CCA’s convening ability and technical expertise on clean cooking; African Guarantee Fund focus on Africa and de-risking investments, with a commitment to green finance; and UNCDF’s capital mandate for emerging markets,” he added.
VC4A, the leading startup platform in emerging markets, is proud to announce the 12 African startups that have been selected to participate in the 2023 VC4A Venture Showcase Africa. This annual flagship program brings together the best and brightest startups from across the continent, giving them the opportunity to pitch their ideas to investors and industry experts with the objective of raising their Seed or Series A funding rounds.
The 12 startups selected for the 2023 Venture Showcase Africa are:
Three ventures from Egypt, which are Rology, an AI-assisted tele-radiology platform that helps deliver accurate radiology reports on time; FreshSource, a B2B agri-supply chain platform that uses data and technology to connect producers to businesses, guarantee fair prices, and minimize food loss; and Pharmacy Marts, a B2B marketplace for pharmacies that provides a one-stop shop for products, financing, and logistics.
Four startups from Nigeria namely; Vendy, which helps businesses accept payments from customers without internet access; Treepz, a car-sharing platform for Africa that aims to reduce CO2 emissions; Winich Farms, an application that connects food producers to informal food processors and retailers in Africa; and OmniRetail, a B2B e-commerce platform offering supplier & retail software, to connect the informal retail ecosystem across Africa.
Three startups from Kenya; Duhqa, a digital supply chain platform that uses AI and automation to help SMEs and manufacturers grow their businesses; MPost, which is a digital platform that turns mobile phone numbers into formal postal addresses, and SympliFi, a blockchain-powered credit-as-a-service platform that provides affordable credit to MSMEs in Africa.
To close the top 12 list, one startup each from Uganda and Senegal; Emata is a digital lending platform on a mission to provide loans to millions of farmers in East Africa and Maad, is an e-commerce marketplace connecting manufacturers and retailers in Francophone Africa.
These high-growth ventures were chosen from a pool of hundreds of applicants, and represent a diverse range of industries and sectors in the Seed and Series A tracks. Each startup will receive mentorship, technical assistance and will have the opportunity to showcase their companies to an audience of investors and industry leaders in the VC4A Deal Room.
“We are thrilled to unveil these exceptional startups for our upcoming VC4A Venture Showcase Africa 2023 program. Each is a beacon of innovation and entrepreneurship. These visionary teams have demonstrated remarkable potential and we eagerly anticipate the transformative journey ahead as we accelerate their growth and shape the future together,” said an excited Abu Cassim, Lead of the Acceleration Team at VC4A.
Press Release
Goodwell invests in SOUK Farms to scale sustainable agricultural production across Rwanda
Goodwell Investments, an impact investing firm fostering inclusive growth in emerging markets is pleased to announce their investment in SOUK Farms, a leading grower and exporter of fresh horticultural produce from Rwanda. The funding comes through uMunthu II, the impact investor’s 150 EUR million fund focused on scalable, early-growth stage businesses in Africa. The investment provides SOUK Farms with a solid foundation for scaling their sustainable agricultural business in Rwanda, enabling them to create resilient systems and value chains that benefit local farmers and the surrounding community.
Founded in 2019, SOUK Farms has already carved out a significant niche in Rwanda’s agricultural landscape, building its own farming operations as well as working with a wide network of outgrowers to cultivate and export high-quality exotic horticultural produce while also serving consumers in the Rwanda market. They have achieved this with a unique blend of innovation and a steadfast commitment to strengthening the resilience of local farms against climate change and disruptive rainfall patterns.
Partnering with Goodwell gives SOUK Farms the necessary capital to pursue these ambitions at a wider scale. “The opportunities to create sustainable agricultural practices and improve existing ones in Rwanda are great. Our partnership with Goodwell will drive a huge impact not only for the growth of SOUK Farms but also for the farmers and the communities we work as we continue to offer solutions that improve incomes and create employment while also implementing education and outreach programs for youth and women,” said Seun Rasheed, Founder and CEO at SOUK Farms.
SOUK Farms has been a key player in Rwanda’s socioeconomic transformation, and their ability to create a positive impact in the local agricultural supply chain is well established. Working closely with over 1,200 farmers across Rwanda, they have greatly improved livelihoods, enabling farmers to earn upwards of 300% more than they did prior to being outgrowers for SOUK Farms. Currently, 71% of the company’s workforce are women, aligning with the Rwandan government’s national Agriculture policy which promotes gender equality at all levels of the agricultural value chain.
Their impact efforts and solid business model are an ideal fit for Goodwell’s agricultural investment strategy, which strives to improve value chains, reduce post-harvest losses, and create better livelihoods for smallholder farmers.
“Under the experienced leadership of Seun Rasheed, SOUK Farms has a clear vision for expanding their impact and productivity in a sector with ever-increasing demand. We are proud to support the company in this exciting stage of their business growth, and look forward to seeing how they continue to innovate in the agricultural space. With this investment, we are also pleased to mark our entry into the Rwandan market, further expanding Goodwell’s presence in East Africa,” said Judith Ngonyo, Investment Manager at Goodwell Investments.
This investment comes at a crucial time, enabling SOUK Farms to build on its success, scale operations, and increase the productivity of Rwandan farmers. It also reinforces Goodwell’s commitment to supporting companies that improve livelihoods and deliver affordable, accessible, high-quality goods and services to underserved populations.
