2nd ACCA Practice Room: Microcredit and financing tools for SMEs

The Practice room was launched by ACCA to connect the people that make up the small and medium practice community. The primary aim of Practice room is to share insightful information and experiences with the audience and to offer useful advice.  Online sixty-minute sessions are hosted by selected ACCA members who present their own experience, invite experts to share their insights and foster the discussion with other colleagues.

One of these community hosts is Anastasia Chalkidou, the Accounting Director & Co-Founder of Quantum BITS and chair of Greek advisory committee at ACCA.

Anastasia’s second practice room was held on the 4th of June on the topical issue of microcredit and financing tools for SMEs. Anastasia was joined by Marisa Antonopoulou, business development manager at Action Finance Initiative.

The speakers presented the benefits of microcredit and micro-finance and they highlighted the vital role,  accountants can play in the process.

What is micro-finance?

Micro-finance-(also called microcredit) is a way to provide small business owners and entrepreneurs with access to capital. These small, individual businesses often don’t have access to traditional financial resources from major institutions, meaning it is harder to access loans that will help them grow their business.

What is micro-finance providing?

Essentially, microfinance is providing access to loans, usually up to a predetermined maximum amount, to the small business owners and entrepreneurs with less restricting terms or guarantees.

How does micro-finance works?

Micro-finance provides the necessary capital to start a business and work towards financial independence.

What about training?

The most important added value of micro-finance is training as those who receive micro-loans are required to take training courses. These courses, include book- keeping principles, cashflow management and other relevant skills enabling entrepreneurs to develop fundamental skills for the governance and prosperity of their businesses.

What about micro-finance in Greece?

AFI is the first and leading micro-finance organization in Greece founded by the European micro-finance pioneer with more than twenty-five  years of microcredit experience, ADIE and ActionAid Hellas.

AFI has already seven years of field experience in Greece, having funded almost 500 micro and small businesses with five million Euros and having educated or/coached 3.500 entrepreneurs in the country.

The next session of Practice Room hosted by Anastasia Chalkidou is scheduled for Friday, 3 September covering some topical HR related issues for SMEs/SMPs, such as management skills in the digital era, teleworking and motivating staff, digital skills and work/life balance. For more information, follow Quantum on social media and for the registration details, visit:

https://zoom.us/meeting/register/tJcrf-yorToiHtNxiknj-8KpUC3hK1s3jAgo