What are the key attributes that you look for in an entrepreneur asking for funding?
Each of TUHF’s projects are individually assessed. When we consider an application for a loan, an in-depth analysis of the entrepreneur is done. It is essential that the entrepreneur has done due diligence. Important attributes an entrepreneur should have include: a good understanding of what they want to achieve, honesty, a hard-working attitude, and a clear vision.
What are red flags?
When the entrepreneur’s facts do not correspond. An entrepreneur approaching TUHF must have market knowledge and research — they must know what they are talking about. Another important factor is whether an entrepreneur can maintain relationships, either personal or business.
As mentioned above, we prefer entrepreneurs that are honest from the start, and if an entrepreneur verifies that they are financially stable and when conducting a background check they are blacklisted or have bad debt, this would be an immediate red flag for the dishonesty of the entrepreneur. Our entrepreneurs are practical and sensible, generally from the building or property sectors, and they do not mind getting their hands dirty.
Can red flag attributes be worked on by the entrepreneur?
When it comes to market knowledge and research, an entrepreneur needs a good sense of business, especially when money is being invested in one of their projects. To distinguish between a person’s ability and level of education is important, as often uneducated people who have experience in the property market and know the value of money make the best entrepreneurs.
What are the qualities that you have seen most often in successful entrepreneurs?
Hard work, patience, determination and creativity. Entrepreneurs who know value for money, and are careful are generally successful. The entrepreneur must take the first step and realise opportunities.
What is a true entrepreneur?
In my experience, good entrepreneurs are usually quiet, thoughtful and reserved. They go about their business, aren’t interested in telling the world about it, but would rather get it done and then show the world.