The Chief Executive Officer (CEO) and co-founder of gourmet chilli brand Black Mamba Foods, Claudia Castellanos, has identified the lack of funding as one of the biggest hurdles entrepreneurs encounter, stressing that before starting a business, individuals must have a solid financial foundation, since support from family and friends is often limited or unavailable.
Castellanos disclosed this at the MTN Eswatini Q2 Business Connect Session, held at Mountain View, last week.
In her presentation, she highlighted many challenges faced by local entrepreneurs and urged them to focus on building sustainable businesses rather than chasing quick financial gains, warning that the latter could harm a business in its early stages.
“Being an entrepreneur is very difficult,” she said. “One of the most important things you can do for yourself as an entrepreneur is research. Having the dream is not enough—you need to be extremely proactive and resilient to succeed.”
She noted that many aspiring entrepreneurs start businesses with a false perception of entrepreneurship.
“It is incorrect to believe that things will be easy. If you are starting a business for quick financial gains, you will struggle and ultimately jeopardize the business. I like to think of a business as a child you must spend years nurturing, providing for, protecting, educating, and clothing before it grows,” she said.
Castellanos added that building a successful business takes years and that entrepreneurs often need support from financial institutions, which typically do not assist businesses lacking the necessary paperwork and financial records.
“In Eswatini, one of the biggest obstacles for local entrepreneurs is a lack of funding,” she reiterated. “I advise anyone planning to become an entrepreneur to ensure they have a strong financial foundation, especially when support from family or friends might not be dependable.”
She also emphasized the importance of having capital for daily operations.
“We need money to start or grow our businesses. When we launched Black Mamba, I exhausted all my savings from previous jobs within a year,” she revealed.
“I had no money left, but luckily, my husband, who is also the co-founder, had a stable job that supported us both.”
If you want to be an entrepreneur, you need to be financially stable. Either you or your spouse must have a steady income because building a business takes time.
It took years of extreme determination to reach where I am today, and I still feel there’s much more to accomplish.”
Castellanos concluded by reflecting on the often-overlooked reality that support from close circles is not always guaranteed.“Unfortunately, family and friends can’t always help because they don’t always believe in the success of your business.
It’s hard to ask them for money to support your venture. In my case, I borrowed money from my husband and in-laws to keep Black Mamba running,” she concluded.