Zimpapers Logo

Oliver Kazunga Senior Business Reporter
UNIVERSAL Canvas Solutions is seeking a technical partner to inject $100,000 working capital to boost the firm’s operations. The Bulawayo-based company manufactures an assorted range of products that include tents, tarpaulins, explosive bags for mines, safari chairs and upholstery products for private and public institutions, among others. Universal Canvas Solutions managing director Mr Sicelo Moyo said his organisation required working capital to penetrate the export market.

“In the short-term, we need about $100,000 working capital to help us implement our marketing plan. We’re looking for technical partners and we don’t mind if we get a local or foreign technical partner who can come in and inject $100,000 into the business,” said Mr Moyo.

“If secured, part of the working capital will be used to develop our workshop into a fully-fledged workshop with state-of-the art heavy duty sewing machines and PVC welding machines. At the moment, we’re improvising. We need a fully-fledged workshop with a fabrication unit to do aluminium tents.”

Universal Canvas Solutions presently employs three machinists and has potential to add seven other specialised skills when operating at full throttle. “At the moment, we’re operating with three machinists but all things being normal, we can add seven others excluding casual workers,” he said.

Mr Moyo said their business was facing a number of challenges that include policy issues by the Government and an influx of cheap imported products mainly from Asia.

“As a small to medium enterprise business, we’re not spared from the influx of cheap imported products mainly from Asia. Our banking sector isn’t supportive of small businesses as they require collateral security which is disproportionate with the amount of money being borrowed. Also the lending rates are very high as a result, this limits the growth of businesses,” said Mr Moyo.

Universal Canvas Solutions is a wholly-owned indigenous company formed in 2012. The company also manufactures household, restaurant and automotive equipment such as folding chairs, stretchers, sleeping bags, parking shades and tyre covers.