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Raising Finance for SME Sector |
Market sentiments may seem gloomy and uncertain due to the currently shifting economic and political policies which invariably affect the financial climate. At such times, most major lenders closely monitor and tighten the flow of funding, restricting it to only selective accounts that reflect credibility. In such cash strapped scenarios, the SME sector gets hit the hardest, mainly due to the liquidity crunches in the market and face the most daunting task of keeping it going.
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Do not underestimate the power of a well constructed audited financial statement which can not only lift your case above the rest, but satisfy the most scrutinizing financial institutions. The dependency on traditional bookkeeping only satisfies to a level one, but an augmented financial statement based on best practices and verified by an auditor takes you to the next level and goes a long way in giving you a real chance at succeeding in getting your desired approvals.
Preparing such augmented financial statements can be very time consuming and challenging for the accounts manager. However adopting a financial software system can not only produce your mandatory financial statements automatically, but also numerous other useful financial facets and reports, which give users greater depth of understanding and insight into the companys potential.
And, even if fund approval is not at stake, audited statements may have other benefits for SME owners, such as helping them establish larger and more favorable lines of credit with suppliers or meeting the management review requirements to attract outside investors.
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Anisha Siddhu 