Small and medium enterprises (SMEs) In Peru they continue to face serious financial difficulties, especially in working capital management and limited access to formal loans. According to data from the Ministry of Production (Produce) 2024, only 55% of growing SMEs currently access formal bank loans.
One of the main challenges for these companies is that they are considered high risk by financial entities, which derives in interest rates that can reach up to 45% per year.
This situation is conditioned with Produce figures, which indicate that 73% of Peruvian emerging companies face difficulties in obtaining credits, limiting their possibilities of growth and stability.
Given this panorama, an UPC administration specialist, he gave known the five key strategies to strengthen financial planning and improve access to financial products of SMEs in Peru:
- Separate personal finances from the business: It is common for entrepreneurs to mix personal income with those of the business, which makes financial management difficult. It is essential to bring adequate accounting records and differentiate personal expenses from business operations.
- Implement digital tools for financial management: Produce studies demonstrate that digitalization improves operational efficiency and reduces accounting errors. Electronic billing, for example, has optimized collection times. Investing in software and trained personnel favors business management.
- Plan long -term finance: Establish clear objectives, have a contingency fund and diversify income sources strengthens financial stability. The Association of Entrepreneurs of Peru emphasizes that businesses with formal financial plans are more likely to exceed five years of operation.
- Explore financing alternatives such as factoring: Since access to bank credit remains limited, tools such as factoring and loans of municipal boxes offer more flexible options. In addition, state programs such as FAE-MYPE have benefited more than 100,000 businesses, giving guarantees of up to 98% of the requested credit.
- Formalize the business: Although formalization is often perceived as an additional expense, it brings benefits such as greater job security and access to better financial services. According to the Ministry of Labor, formalized companies increase their possibilities to access bank loans by 70%.
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