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Improving business conditions - Increasing SME Access to Finance: A Four Pronged Approach

Written by: OECD Development Centre

Article Overview: Improving business conditions, boosting the capacity of SMEs, expanding the financial sector and strengthening links between firms will permanently increase SMEs’ access to finance.

Improving business conditions - Increasing SME Access to Finance: A Four Pronged Approach

Improving business conditions, boosting the capacity of
SMEs, expanding the financial sector and strengthening
links between firms will permanently increase SMEs’ access
to finance.

Improving business conditions

Proper information, a key to deciding whether to make a
loan, would be helped by adopting clear accounting
standards, setting up independent, competent and reputable
accounting firms and creating more credit bureaux
supplying data on the solvency of firms.

An impartial legal system that can help settle contract
disputes, commercial law reform and drafting and clarifying
land titles, as well as effective bankruptcy procedures, are
vital for growth of the business sector.

A country’s tax laws can either coax small businesses into
the formal sector of the economy or keep them out of it.
Governments should also make sure that they pay SMEs
promptly, since public contracts are vital to the financial
security of these firms.

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Article Tags: accounting firms, accounting standards, bankruptcy procedures, business conditions, business sector, contract disputes, credit bureaux, economy, financial sector, financial security, formal sector, governments, land titles, public contracts, small businesses, smes, solvency



Related Forum Posts
Re: Finance is the primary requirement of business - [quote="rauljoseph":36x8dadn]Finance is very important in a business. It is all about managing the business' money and other assets. Finance includes the study and analysis of processes, financial institutions, markets and instruments that are involved in the transfer of money or anything that has a monetary value among consumers, businesses and government.[/quote:36x8dadn] Good point. I'll just add that if I was going into business for myself and could only have one skill it would be Sales & Marketing. You need to be able to create customers first and foremost. Finance is more of a support function for entrepreneurs.
Finance is the primary requirement of business - Finance is very important in a business. It is all about managing the business' money and other assets. Finance includes the study and analysis of processes, financial institutions, markets and instruments that are involved in the transfer of money or anything that has a monetary value among consumers, businesses and government.
Which kind of industries are you interested in? - Ecological or E-business or Investment or Finance or Management or Non-Profit or Retailer or others.
For franchisor, which is the most important quality of good - According to a magazine, some examples of most important qualities for franchisees are: 1) Good people skills 2) Ability to be coached 3) General business skills 4) Access to capital What do you think about it?
Re: Finance is the primary requirement of business - Finance is important, but I feel there are so many other factors that are just as important if not more. You can have all the money in the world to run a business, but if you can't produce results your business is better off closing the doors.


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