CBK launches ‘Small, Medium Enterprises Financing Survey’
In its continued efforts to provide a business-friendly environment that helps companies obtain appropriate financing, the Central Bank of Kuwait (CBK) launched “Small and Medium Enterprises Financing Survey”. This recently launched questionnaire is comprehensive and sheds light on the process of obtaining credit and utilization thereof.
This came in a press release by the CBK Governor Basel A Al-Haroon in which he pointed out the importance of the participation of business owners and entrepreneurs in completing the questionnaire that shall be available on the CBK website throughout the year. The extracted data shall be analyzed every three months, to survey those of small and medium business owners in various sectors and assess their experiences for obtaining financing, with the aim to incentivize and nurture this vital sector of the national economy by providing a healthy and supportive economic environment.
The governor added that the results of the survey will help understand the challenges and opportunities for small and medium enterprises in obtaining finance and managing their financial needs, and underscore the conditions of financing and to which extent it would accommodate their financing needs. This contributes to identifying trends and potential risks in the financing market for this segment, and is necessary to maintain a stable, healthy and supportive environment for entrepreneurs.
The governor further pointed out that the results of this questionnaire will also help policymakers, lenders and stakeholders understand the underlying challenges and opportunities for taking well-informed decisions and developing solutions that support the growth of this sector, noting that the results will not be published and will be solely for the CBK’s internal use. Al-Haroon concluded by thanking all the companies responding to this questionnaire, and appreciating their cooperation for the interest of the national economy.