SME's - a link between funding and a compliance model
SME's - a link between funding and a compliance model
So what is the solution, if one exists at all? The solution lies in providing a compliance model that mitigates the banks' risk. Until such time as we mitigate bank risk, it is unlikely that banks will free up finance to SME's on a significant level.
The existing compliance models within the market are working well and banks readily fund SME's that are part of compliance models. However, they need to be done on a larger scale in order to create more SME's. Similarly governments must perhaps fund the development of these compliance models by entrepreneurs, and avoid attempting to do so themselves, as this will surely lead to failure. The beauty of compliance models is that they reduce the need for entrepreneurs to drive these new SME's, and allows SME managers to be able to successfuly manage these businesses.
So let us make it easy for banks to fund African SME's, let us reduce the need for aid funding and charity, let us create SME's through compliance models.
Rob Smorfitt
SMEs a link between funding and a compliance model - To learn more about this author, visit Dr. Rob Smorfitt's Website.
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SME's need cash, of that there is no doubt. Similarly, SME's are extremely high risk clients for banks, and it is unlikely that this will ever change.
So what is the solution, if one exists at all? The solution lies in providing a compliance model that mitigates the banks' risk. Until such time as we mitigate bank risk, it is unlikely that banks will free up finance to SME's on a significant level.
The existing compliance models within the market are working well and banks readily fund SME's that are part of compliance models. However, they need to be done on a larger scale in order to create more SME's. Similarly governments must perhaps fund the development of these compliance models by entrepreneurs, and avoid attempting to do so themselves, as this will surely lead to failure. The beauty of compliance models is that they reduce the need for entrepreneurs to drive these new SME's, and allows SME managers to be able to successfuly manage these businesses.
So let us make it easy for banks to fund African SME's, let us reduce the need for aid funding and charity, let us create SME's through compliance models.
Rob Smorfitt
SMEs a link between funding and a compliance model - To learn more about this author, visit Dr. Rob Smorfitt's Website.
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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