Barclays urges SMEs to make use of its business toolkit

BARCLAYS Bank Zambia has encouraged upcoming entrepreneurs to utilise the online Small and Medium Enterprises (SMEs) toolkit designed to assist them put up a proper business plan.

The bank’s director - retail and business banking, Regina Mulenga, observed that SMEs lacked assistance in not only finance, but also in terms of putting up business cases.

Ms. Mulenga explained that the SMEs toolkit had everything needed for putting up a proper business case.

She observed at the re-opening of the Barclay Bank branch at Arcades Shopping Mall in Lusaka that most entrepreneurs had good ideas but no clear understanding of the business plan.

“There are some initiatives that we are working on around expansion access to finance responsibly and one thing we do straight from the person to the largest business is to make sure that we work with you as an individual

“For the smaller businesses, you have a look at the SMEs toolkit, an online system that help interrogate them on their plan. This is because you will find that even putting up a business plan together is a challenge,

“So I encourage for those who may be planning smaller business to make sure they get use of the toolkit that will help you to put together a business plan,” Ms. Mulenga said.

She also disclosed that the bank was working on an initiative aimed at expanding access to finance, particularly for small businesses by providing them with direct loans.

Meanwhile, Ms. Mulenga said the re-opening of the prestige banking at Arcades was a clear indication of the bank’s commitment to provide quality services to customers.