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Financial Services

Financial Services (FS) functions with in the Business and Sector Development Services (B&SDS) of SMEDA. As the name implies, FS is responsible for all direct and indirect activities that fulfill the objective of providing SMEs with improved access to business development services.

Financial Services not only implements its own initiatives to design and implement programs but also plays a supportive and advisory role to other departments of SMEDA.

Financial Services & Products

Upon analyzing queries received at SMEDA helpdesk facility and our interaction with sector stakeholders, it has been highlighted that SMEs require easy access to finance. Therefore, creating awareness of SME specific products and services being offered by banks among SMEs is considered an important measure by us to enhance SMEs access to finance. 

Financial Services adopts the following mode of reliable information dissemination:

Website
Financial Services  collects and compiles information on a periodic basis from various banks about their products designed for SMEs. This information is then assimilated as per SME understanding and displayed on SMEDA website in a user friendly format as a searchable database and can be accessed through Banking Products-Online Database

Trainings, Seminars & SME Financing Helpdesk.

To increase SME understanding on various ‘finance’ related issues, we conduct awareness seminars and trainings to disseminate information on SME financial services and products available, ways to bridge the gap between SMEs and banks, accounting and bookkeeping issues, etc. These seminars not only increase SMEDA outreach into the sector but also highlight problems faced by SMEs while approaching banks; which are later addressed by SMEDA and discussed on various forums.
 
SMEDA, in collaboration with banks periodically conducts Helpdesk for SME Financing where bank representatives evaluate SME loan requests and SMEDA staff handholds eligible SMEs through loan processing and documentation processes.

1. How to Approach Banks?

'How to Approach Banks' is a guide for Pakistani entrepreneurs; aimed at introducing them to ways and means of obtaining short-term credit from banks, negotiating terms and conditions associated with it, assessing their financial needs and analyzing payment methods. Kindly contact your nearest SMEDA office on how to buy this publication!
 

2. Accounting Hand Book

Accounting Hand Book is a practical guide to improve bookkeeping practices of SMEs. It discusses a typical SME business cycle and accounting transactions related to it in a ‘hands on’ manner using forms, vouchers, case studies and practical examples as sources of assistance and supplementary material. It is a reference tool for SMEs on ways to implement accounting system to manage efficiency and growth of their businesses.

1. Financial Analysis

Financial analysis is an important section of the comprehensive sector studies developed internally by SMEDA. Financial Services is responsible for preparing this section; broad parameters include:

  • Performance: Historical performance of the sector in terms of its financial viability
  • Competitive Analysis: Various cost structures and value addition processes practiced in the sector
  • Sourcing of Financing: Analyze financing modes available and best suited for the sector

2. Financial Modeling

To ascertain financial feasibility of individual SME businesses as per request of clients approaching SMEDA, Financial Services prepares extensive financial projections using comprehensive models. These financial models are “live “models providing flexibility to the user to evaluate viability of a proposed strategy under numerous scenarios.

3. External

Financial Services works very closely with Financial Institutions (FIs) in designing financing schemes for SMEs. Moreover, the department designs programs and services, in line with SMEDA objective, to support FIs by promoting their SME friendly facilities to elevate the capacities of small and medium businesses.

Carrying the core mandate of SME development, other institutions seek recommendations and guidance from SMEDA prior to developing SME facilitating schemes. In this regard, FS provides information related to financial conditions of the industry; prepares reports backed by relevant historical statistical analysis and provides necessary relevant data as needed.

SMAP Features

SMAP accounting software has crossed 5,000 downloads and continues to gain popularity in the SME sector!

Salient features of SMAP accounting software include:

  • Inventory Control
  • Financial Accounting
  • Cash / Bank Management
  • Receivables & Sales
  • Payables & Purchases  etc

For download and more details about the software, please visit http://smap.smeda.org