Universal Merchant Bank (UMB), has engaged Small Medium Enterprises (SMEs) on management of businesses, especially on their cash cycle.
The seminar dubbed, ”SME Clinic Program” was held at the Akroma Plaza in Takoradi on Thursday September 27, 2019.
Principal speaker for the event Mr. Eyram Atsu, Consulting Director, Credit at UMB explained finance models, succession planning, recruiting, corporate governance among other significant topics to help the participants mitigate cash cycle challenges faced in daily business operations.
Speaking to Skyy News. Mr. Atsu explained the essence of the clinic.
”The essence of this program was to bring customers up to speed with credit requirements. When customers apply for credit, the impression is that they should get it simply because they have collateral. But credit is not based on collateral. It is based on account performance, business track record and effectiveness of management and it we have come to expose our customers to these things. We also shared information on succession planning and the engagement of the right people in their business, diversification and how to finance and sustain diversification, how to acquire relevant skill-set and technology to meet the needs of the ever changing taste of the customer” he said.
The seminar also offered a platform for customers to share useful feedback that will further enhance the business relationship with the bank and also for grievances to be presented the bank.