The National Chamber of Commerce in association with SME Factors Lanka Ltd. is conducting a Forum on ‘Factoring for SMEs’ (Small and Medium Enterprises) on Thursday, 5 November from 2 p.m. to 5 p.m. at the National Chamber Auditorium 450 DR Wijewardene Mawatha Colombo 10.
The discussion will be based on the benefits of factoring for the SME sector and will be addressed by an eminent panel of speakers who has extensive experience in the financial industry.
SMEs play an integral role in Sri Lanka’s business economy as they amount to 80% of all businesses. Factoring provides small and medium enterprises (SMEs) with working capital financing. Through factoring, SMEs will be able to increase accessibility to various alternatives of financial support and working capital to grow their businesses.
Cash flow problems in an establishment often occur at the early stages of business development or during rapid growth. Getting a bank loan requires collateral and credit worthiness and this is not always possible. But in factoring, cash advances of around 80% can be obtained quickly. Other benefits are:
You can offer credit terms to your customers to increase sales.
Eliminate overheads by utilising the Factoring Company ledger management and payment collection services.
Factoring will allow you to grow your business, as sales increase and more money becomes available to you.
Factoring will benefit the cash cycle management of the SME sector and to seek new business opportunities.
With a healthy cash flow, your business will have the working capital to pay salaries, reduce debt, improve vendor relations and focus on potential areas like operations, sales and growth. Further it will be beneficial and educational to the SME sector with a special emphasis on addressing their working capital shortfalls.
A Question and Answer session will be held where participants will be free to ask any questions and find out more information on factoring and take part in an interesting seminar to start making money.
For registration for the forum kindly contact Chamber TP 4741788 Vindya /Nirmani, email firstname.lastname@example.org.