Small entrepreneurs taught about financial issues at seminar
Dun & Bradstreet India and State Bank of India, in association with SIDBI, GIZ and BSE IPF, on Tuesday organised a workshop, 'financial literacy and education', which was focused on the financial needs of medium and small scale entrepreneurs (SMEs).punjab Updated: Mar 19, 2013 21:18 IST
Dun & Bradstreet India and State Bank of India, in association with SIDBI, GIZ and BSE IPF, on Tuesday organised a workshop, 'financial literacy and education', which was focused on the financial needs of medium and small scale entrepreneurs (SMEs).
The workshop was attended by over 40 SME representatives from across the city.
The speakers deliberated on key financial issues such as policy and regulatory frameworks, schemes and programmes of central/state govt for promoting MSMEs, financing options and modes, accessing bank credit, financial analysis and interpretations, cash/fund flow management and credit rating & information.
The workshop also garnered various inputs from the SMEs, including peculiar financing requirements and suggestions on improving credit flow to the deserving sector.
Preeta Misra, Leader - Learning Solutions, D&B India, said, “It is now well accepted that SMEs are stepping stones of entrepreneurship development and innovation and provide the foundation for long term growth, especially in developing countries such as India.”
SMEs provide employment to around 69 million people, through 26 million units. Moreover, SMEs account for around 45% of the country's manufacturing output.
Spokesperson of State Bank of India, Vinod Singla, said, “State Bank of India is a pioneer in SME financing in India. The Bank has developed a wide range of products and services in order to cater to the evolving needs of the SME sector and has adopted cluster approach as a strategy to improve the credit flow to SME sector through industrial and artisan clusters across the country.”