Yes, SMEs need loan funding, but that's not all they need
MONEYWEB Yes, SMEs need loan funding, but thatâs not all they need Contrary to common belief, banks like Absa have a robust and growing SME loan book. But small and medium-sized enterprises also need business guidance and stronger networks. 00:01 Letâs be honest: the odds of a new business succeeding are not great. In the US the failure rate is about 50% in the first five years. In SA, the failure rate is reckoned to be 70% in the first year, according to former Trade and Industry Minister Rob Davies. Henry Gachukia, chief credit officer for private banking and SMEs at Absa, s...
Source: moneyweb.co.za