Mauro Libi: Five keys to obtain a financing for your SME

Small and medium-sized enterprises, better known as SMEs, have a challenge: to obtain financing, that will guarantee the durability of the business. If this is not the case, it won’t be an idea without possibility. Entrepreneurs at the forefront of these businesses have to act in a smart way to get the capital to work. Also, at the same time, they have to ensure that organizations will be able to maintain a permanent capital income, since these companies are characterized mainly by their low savings margin and therefore, they can’t work for long time without financing.

     It corresponds before requesting for credits, defining the needs according to the objectives of the business and establishing a severe order in the handling of the finances and the accounting. The global economic crisis is a permanent challenge for SMEs, which are the backbone of the economy of all countries, but this is not enough, you have to ensure the viability of business to attract investment. So, business ideas have to be creative and innovative, viable, structured around good work teams and have an excellent financial and accounting management.

     Here are some keys to obtain a financing for your SME:

1. The objectives of your company should be very clear. It must be transparency in terms of financial for the objectives that the business has planned. You have to know very well what funding is wanted for, how much is required, and for how long. A detailed analysis should be made about the present and future financial status of the organization.

2. The needs of the SME have to match perfectly with the existing financial services. It is necessary to investigate all the alternatives that in the financial market are available. Also, it is necessary to determine which is the best agree according to the company and the products and / or service that will be produced. One aspect that should be taken into account by SMEs when choosing financing alternatives is that the collection periods of invoices are usually long, which will mean important periods of illiquidity.

3. When a decision has already been made about the financing, it is necessary to proceed to put everything in order. Chaos only leads to more chaos, so accounts and all documentation have to be immaculate and available. Nobody invests in an organization that is clearly chaotic, unmanageable, the company must work perfectly in the operational, the fiscal, and in the financial and accounting. Financial institutions and banks require a great deal of care in managing accounts.

4. SMEs should be extremely careful when selecting the financial institution and the type of credit to obtain. In case to resort to a credit company, you have to take into account the time you have in the market, your client portfolio, the speed in the credit approval process and its flexibility.

5. It is essential to prepare a payment plan before acquiring the credit. To do this, adjustments will have to be made in the budget to include payments. This will avoid setbacks and unwanted delays. Your SME is interested in building an excellent credit history.

Visita:

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