Not enough

Thinking of putting up your own business?

      

Just make sure you have enough money of your own.

      

Small and medium enterprises (SMEs) are critical drivers of employment and national growth, but a regional study shows that funding opportunities in the sector are quite limited.
      

The majority of SMEs in the Philippines have limited access to finance, according to a joint study by Deloitte and Visa, titled "Digital banking for small and medium-sized enterprises: Improving access to finance for the underserved."
      

SMEs account for 35 percent of the gross domestic product (GDP) and employs 65 percent of the workforce, mainly in the National Capital Region. But the
 country’s total SME loan volume for 2014 was only $9 billion compared with $171 billion in Thailand—the highest in the region.
      

Only 39 percent of SMEs cited bank loans as source of funding, and personal funds continue to be a dominant source. –End-

Image by: www2.deloitte.com