The Development Bank of Namibia (DBN) Head of Marketing and Corporate Communication Jerome Mutumba, warned that when Small and Medium Enterprise (SME) owners set out to apply for finance with a high degree of confidence and certainty there is great risk that the results of the operation may fall short of expectations.
Mutumba stressed that responsible borrowing takes into account the financing needs of the enterprise, but also considers the level of the expenditure and the cost of financing. He added that SME entrepreneurs should follow the approach of larger enterprises and plan for finance in a conservative manner.
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