A common lament in small business circles is that finding sources are too few and far in between. With economic conditions playing as harrowing a role as a lack of funding in MSME management, it is important to understand how small businesses should approach funding – and how they can get access to financing strategically.
This webinar aimed to:
- Explain the current finance scenario for Gulf region MSMEs,
- Explore how corporate governance principles and procedures can help build financial confidence in a small business, and
- Teach MSMEs how they can be strategic about looking for and accessing financing using good governance practices.
In this webinar, we learnt:
- The reasoning behind why COVID-19 had such a tremendous impact on the global economy, and on MSMEs in particular.
- The measures that both financiers and businesses are taking to cope with the economic upheaval.
- The role that liquidity plays in keeping MSMEs afloat, particularly with rents, salaries, utilities, and service providers.
- Why networking is more essential than ever during COVID-19, and why existing relationships should be leveraged to support an MSME.
- How pre-COVID business models are being reinvented and re-evaluated both as a pragmatic and an adaptive measure each.
- Plotting where an MSME stands during the COVID-19 crisis – is it growing, is it temporarily challenged, or is its business model unstable – and plotting the appropriate sources of viable income accordingly.