UT Bank has held its first ever SME clinic at the Best Western Hotel in Accra.
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UT Bank holds first ever SME clinic
The clinic ,held under the theme Funding Your Business- Strategies, Options and Considerations, brought together small business owners to discuss strategies towards improving their business.
Opening the clinic,the chief executive officer of the bank ,Mr.Stephen Antwi Asimeng outlined the role of SME’s in the Ghanaian economy .
"Research has proven that 70% of annual GDP is contributed by SME’s.Collectively they contribute the largest share to the economy.UT Bank’s core area is SME.we have come to understand that SME's usually need a lot more than financing and that is why we have assembled the best SME minds to teach us how to unravel some of the problems."
He also revealed that the bank would in the coming months launch new products including an SME rating model that would among other things use multi factor variables to assess credit worthiness and allow the bank to provide added insight to clients on how to improve credit profiles.
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One of the key note speakers at the clinic ,Mr.Sampson Agkligoh from InvestCorp urged SME’s to consider when to spend and when to invest while taking tax planning seriously.
Also speaking at the clinic was the Senior Investment Officer of Oasis Capital, Mr.Richard Siaw outlines alternative sources of funding for SME’s.
UT Bank reinforced its commitment to empowering SME’s by promising to organize more clinics to provide tactical advice for SME’s.
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