She explains the most common mistakes she has seen small and medium enterprise (SMEs) owners make when borrowing money from a bank. This sounds obvious but preparation forms 90 per cent of the problems SMEs face when borrowing. Read MoreWhat you need to do insteadYour business plan has to be solid for you to borrow from the bank. But a lot of SMEs don’t have these. You don’t ask for the right thingOne problem I’ve observed is people don’t understand the language of the bank.

Source: Standard Digital March 09, 2021 21:00 UTC