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Training Needs Survey and Challenges Facing SMEs Access to Finance

Objective:
  • To survey the banks training needs
  • To stand on the main challenges facing SMEs access to finance
  • To enhance networking among SME Unit heads at banks
Outcome:
 
During the first round of the SME forum that was initiated by the SME Unit at EBI, a training needs analysis survey was conducted among SME heads to get acquainted with their training needs and topics of interest to include while setting the SME Unit training plan.
 
Also, discussions took place regarding the obstacles and challenges that are faced regarding the SMEs access to finance the banks’ side as well as the entrepreneurs. Among the main obstacles were the lack of reliable data and information on the SME sector in Egypt in addition to the fact that banks often perceive SMEs as unreliable customers as they don't have the capacity and are inexperienced in developing adequate business plan, which is a key for expressing business objective. Also, SMEs were found to be literate with regards to banks' requirements.
 
Based on the outcome of the forum the SME Unit has started to address some of the main obstacles, whereas the following actions were taken:
 
  • Conducting a market research on full census basis on the SME landscape in Egypt in cooperation with Central Bank of Egypt and the Central Agency for Public Mobilization and statistics.
  • Developing a training program for SMEs on how to effectively deal with banks.
  • Conducting consultative roundtables with SME heads at banks and members of different Industrial sectors to create an open dialogue between both sides regarding access to finance.