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Written by Philip Copeman
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Friday, 22 May 2009 |
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It has long been a contention of mine
that Banks to do not lend money to Small Business. It was thus
encouraging this week to see Derek
Kudsee, Director of SAP SME Africa, say similar statements at
SAP's world road show. Consumer Assist CEO Andre Snyman also came
out this week with the fact that Banks
are Throttling the Economy. They join a line of commentators
from myself to Barack Obama and Tito Mboweni that feel that the
credit crunch can be laid at the feet of the Banks.
Well Hello! Where have these guys been?
Small businesses have known this for the last 5 years. Banks do not
lend money to Small Business. They lend money to house owners. The
house owner, borrows the money and it is then the house owner who
lends money to the business. The idea that you can prepare an Open
Office Impress presentation, pull some data from your TurboCASH
program, extend it in a Spreadsheet, export it to PDF and take it off
to your Bank and get a rational meeting about finance? Buddy you have
obviously never tried it!
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