Financial Guide for SMEs - SME Corporation Malaysia

Financial Guide for SMEsFinancial Guide for SMEsChapter Twelve – Managing Your BankingRelationshipsGood relationships with your bankers will ensure that theyunderstand your business and are in the best possible position toprovide advice and support when neededTopic Hint TipAnnual ReviewBeing well prepared for the annual reviewwill show the bank that you understand theirrequirements and indicate good managementpracticesDuring the annual review, the bank is likely torequire up-to-date financial data and all otherrelevant information that summarises your businessoperations for the last 12 monthsContinuingRelationshipsKeeping your bank well informed of yourbusiness activities and performance willensure that they are ready to respond toany additional requestBank managers are often working with otherbusinesses in similar industries and can be auseful source of information for your businessManagingDifficultiesIf your business is having problems, suchas difficulty in keeping up with repayments,discuss them with the bank immediately sothat they can work with you to find asolutionBank managers are more ready to provide anyassistance required, such as a negotiation ofrepayments, if they are told about a deterioratingposition rather than having to find out about itthemselves179179chapter 7-13 p79-181 Eng.indd 1798/15/11 5:03:12 PM