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Indian SMEs look at alternate options of raising funds: Report

IANS  |  New Delhi 

Rising borrowing costs and difficulty in accessing has led India-based (SMEs) to look at alternate options of raising funds to fuel their growth, a global survey report said on Thursday.

According to Global SME Pulse 2018 report, SMEs in are finding it hard to access funds due to high borrowing cost and cumbersome process.

The report showed that 42 per cent of SMEs said that getting access to to grow the is difficult, compared to just a third (33 per cent) in the global average.

"Rising borrowing costs and access to is making SMEs to look at alternate options of raising funds to fuel their ambitious growth," said Saru Kaushal, Vice President and General Manager, Global Commercial Services, Banking Corp.,

"Our research shows that just 46 per cent of Indian SMEs say that they are satisfied with the current financing options available to them, highlighting the time-consuming application process, high interest rates and hidden fees as the top 'pain points'."

As per the survey, the Indian SMEs foresee high revenue growth over the next three years of 7 per cent a year, along with a 6 per cent annual growth in profits.

--IANS

rv/prs

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 29 2018. 23:32 IST
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