At the same time, SME entrepreneurs are not ready for complex financial decisions although they are constantly concerned with the company’s financial records.
SMEs entrepreneurs and managers are cautious in accessing bank loans and prefer counting on their own resources, according to a Visa Europe study on SMEs payment behavior.
Two thirds of SMEs hold only one bank account, while 70% of companies with one or more current accounts prefer working with only one bank. Interaction with the bank is generally limited to cash withdrawal and deposit.
Cash payment remains the most popular form of payment among SMEs in Romania, as 80% of transactions between SMEs are paid with cash.
Visa Europe study was conducted in the first half of the year and was based on the answers of the representatives of 600 SMEs with 0-49 employees, in sectors such as constructions, manufacturing, retail and wholesale trade, HORECA, transports and communications, business services.