Our CEO, Matthew Gamser, was interviewed by ICMA Pakistan and shared his opinions on financial challenges faced by small businesses. “Going from cash to digital payment and from paper to digital business contracts and transactions, is the key factor in improving MSME access to finance”, Matthew emphasized.
As for key financial challenges faced by SMEs, Matthew explained: “SMEs in Pakistan and everywhere rank getting access to finance as one of their top challenges. Whether it’s providing working capital credit for short-term opportunities, or long-term finance for innovation, growth, and greater sustainability, the financial sector has struggled with the SME market. However, technological advances, particularly in the digitalization of business and of financing itself, open up many new opportunities. The SME Finance Forum helps the finance industry to accelerate the adoption of these advances, by enabling our members to learn from each other, link to new business/partnership opportunities, and lead the industry voice in policy dialogue to improve the enabling environment for responsible innovation.”
The article also discusses the importance of digital transaction of MSMEs: “The greater the digital footprint an MSME has, the easier its financial demands and risks can be assessed, both by financiers and by entrepreneurs”, Matthew also introduced: “The SME Finance Forum has been on top of all the major digital innovations going on in SME financing: helping global encouraging replication. We also, through our relationship with the G20, APEC, the Basel Institutions, and other global and regional policymaking bodies, have helped encourage governments to improve the common infrastructure of financial markets to promote digital progress in particular improving credit information and movable assets/secured transactions regimes”.
More interview questions and answers to be found here>