SME finance functions 'need to evolve to play a more strategic role in business'

Singapore

FINANCE functions in small and medium enterprises (SMEs) need to further evolve to play a more strategic role in the business, according to a report issued by the Association of Chartered Certified Accountants (ACCA), based on eight in-depth case studies of businesses that had experienced over 70 per cent growth during a period of three consecutive years.

Rosana Mirkovic, head of SME policy at ACCA and author of the report, said: "Growth of this rapidity is almost always driven by one of three factors. Strategic internal decisions to enter new markets, ac…