Many SMEs face challenges accessing growth or working capital and in need of immediate cash flow to meet the needs of their growing business. A lengthy cash conversion cycle often results in companies having their capital tied up and unavailable to capture growth opportunities. This could result in financial difficulties if they are unable to resolve the problems.
Businesses too face challenges in the form of process and manpower constraints. They encounter poor cash management, resource allocation and even serious issues, such as fraud due to lean manpower and limited resources.
furthermore, the inability of SMEs to have access to growth capital because of numerous bottlenecks makes them unable to scale up their businesses and reach the desired level of expansion.
Such challenges can be avoided if businesses actively broaden and diversify their financing options, improve financing capabilities, and put in place a robust financial management plan. These would enable a business to secure sustainable long term financing and maintain sufficient working capital to meet its operating cost and short term liabilities.
stay on this page, you will find out how to leverage new developments in SME financing to:
- Expand your business
- Meet recurrent cash flow needs
- Tap alternative financing solutions
- Improve your credit ratings
- And lots more…