SME asked to keep records of accounts

The Small and Medium Enterprises (SMEs) have been asked to maintain proper books of accounts to access assistance from financing institutions banks and Capital Markets .

While at the breakfast meeting of top 100 middle-sized companies in Kampala, the SME Chairman Twaha Kawaase said that SME should cope up with the modern accounting methods to be trusted for loan and other financial services.

Twaha added that most SMEs have poor or do not have records of accounts that financiers can use as a basis of advancing loans to them.

The small and medium scale entrepreneurs were urged to improve their businesses so that they contribute remarkably to the national income and create more jobs.

By Nabula Baluku

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