GB Talks: Understanding SME financing in the UAE

GB Talks: Understanding SME financing in the UAE

Get a strong business plan, and ensure your fundamentals remain soild'. That was the main message that experts from the financial industry had to give to the small businesses that participated in Gulf Business' The SME Breakfast session on December 13 at the One&Only Royal Mirage in Dubai.

The in-person event, held in association with Tradewind Finance, saw 15 small businesses in attendance. Starting off with a panel discussion on SME financing in the current environment, Peter Maerevoet, global CFO of Tradewind Finance and Gavin Kwas, senior manager - Platform Commercialisation at National Bank of Fujairah, elaborated on the liquidity challenges in the current environment and how regional entrepreneurs should approach funding.

"Liquidity is a challenge for everybody in the current environment. While you can still get funding, you have to go through more hurdles to prove substantively that your business is going to be able to repay the debt,“ explained Kwas.

Discussing the importance of diversifying their financing options, Maerevoet said that unlike banks, which have tightened lending procedures and require some complex procedures, trade financing companies are more flexible and can offer bespoke credit solutions to small businesses - while also providing them cash-in-bank without the associated